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  • FIRST POST
    archived user
    I am a cash buyer. Buy now or buy later??
    • #1
    • 17th Sep 19, 8:32 PM
    I am a cash buyer. Buy now or buy later?? 17th Sep 19 at 8:32 PM
    With the Office of National Statistics reporting that property price falls have now rippled out of London and into all three areas of southern England, from Land's End to Dover, and up to Milton Keynes, why would I buy now, when in 6 months, or a year's time, I will either get more property for my money, or the same property for a cheaper price? Patience is a virtue, and in the current market it could well be profitable, too.
    Last edited by Diocletian II; 17-09-2019 at 8:35 PM.
Page 4
    • MobileSaver
    • By MobileSaver 18th Sep 19, 12:42 PM
    • 1,967 Posts
    • 2,993 Thanks
    MobileSaver
    I am currently living very comfortably, thank you.
    Originally posted by Diocletian II
    I am renting a place that is quite adequate.
    Originally posted by Diocletian II
    So in less than 24 hours your living standards have gone from "very comfortably" to "quite adequate." I find that quite revealing.

    I suspect your vehemence against property owners is down to not being able to afford the home you want because of a "deluded seller" who would rather leave their property on the market than sell at a cut-down price to you.
    Respect to 3 of the greatest actors of all time; amazing people who are totally believable as the characters they play & almost single-handedly make the shows they starred in:

    Peter Dinklage as Tyrion Lannister in Game of Thrones
    Daniel J. Travanti as Frank Furillo in Hill Street Blues
    Claire Danes as Carrie Mathison in Homeland
    • RelievedSheff
    • By RelievedSheff 18th Sep 19, 12:56 PM
    • 688 Posts
    • 692 Thanks
    RelievedSheff
    I am a cash third time buyer. But many of the issues I am facing also apply to first time buyers, although they are not identical. Lots of buyers will also be living in quite adequate rented accommodation or with parents, so I think the argument that bought accommodation is always better than rented is not accurate. In London it is quite possible to rent something better than people can afford to buy.
    Originally posted by Diocletian II
    How much have you spent on rent in the last 12 months?

    I would hazard a guess that it is a damn sight more than the average house price has fallen.

    You make the mistake of looking at asking prices and assuming that house prices are falling on the basis of a handful of reduced asking prices. You really need to look at sold house prices and completed transactions to get your property price trend data. This is the accurate data based on actual sales not pie in the sky asking prices.
  • archived user
    Are there any other cash buyers here, apart from me and Pastures New? There are oodles of abusive owner-shills on this forum, trying to pump the market, but hardly any cash buyers. Would be great to talk to any others, if they exist here. Getting first time buyers' views would also be useful.
    • hazyjo
    • By hazyjo 18th Sep 19, 1:35 PM
    • 12,459 Posts
    • 17,055 Thanks
    hazyjo
    What you're asking for is an investor who will tell you now isn't a good time to buy.


    Like I said, I have nearly 100% cash in mine. I do NOT want prices to increase. I am not trying to 'pump the market'. Absolutely not.


    If you want to chat to cash buyers re the market, try the Debate House Prices & the Economy board.
    2019 wins: Bottle of Prosecco; Popcorn Shed popcorn; Moisturising 'M&S Time Capsules'; Case of Boost Sport + 30 Just Eat voucher; Battle Proms tickets and hotel; under-eye serum...

    "Should know better." Apparently.
  • archived user
    I'm looking to see what other cash buyers and first time buyers are thinking, since we are in a similar situation. However, it seems we are very thin on ground, which is very useful to know in itself. It's not useful to know what owner-shills are saying, because they have a different agenda.
    • RelievedSheff
    • By RelievedSheff 18th Sep 19, 1:42 PM
    • 688 Posts
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    RelievedSheff
    I'm looking to see what other cash buyers and first time buyers are thinking, since we are in a similar situation. However, it seems we are very thin on ground, which is very useful to know in itself. It's not useful to know what owner-shills are saying, because they have a different agenda.
    Originally posted by Diocletian II
    Clearly not the same as you or you wouldn't have to keep banging on about it.

    Change the record.

    No one agrees with your Crashy
    • caprikid1
    • By caprikid1 18th Sep 19, 1:43 PM
    • 902 Posts
    • 972 Thanks
    caprikid1
    I am not sure what the relevance of Cash vs Mortgage is in terms of the buying decision.


    I could have been a cash buyer but I felt at current interest rate levels I would be a mug to use my cash when others were offering theirs so cheap, why should I tie all my money up in an asset and take that risk when I could keep the cash ?

    Cash buyers are not seen these days as attractive, they are often as deluded and uncertain as the OP, they are viewed as flighty and unreliable, liable to gazunder and all manner of despicable practices so often viewed as a negative not a positive. Often cash buyers are not committing much early on to the process, IE no Surveys or Mortgage application fee's , I have heard it said that many times to avoid cash buyers all together.
    • MovingForwards
    • By MovingForwards 18th Sep 19, 1:43 PM
    • 2,526 Posts
    • 2,993 Thanks
    MovingForwards
    I'm a FTB, 'dropping prices' don't phase me as I'm looking for a home not an investment.
    • hazyjo
    • By hazyjo 18th Sep 19, 1:44 PM
    • 12,459 Posts
    • 17,055 Thanks
    hazyjo
    It's not useful to know what owner-shills are saying, because they have a different agenda.
    Originally posted by Diocletian II
    So now I'm a liar
    2019 wins: Bottle of Prosecco; Popcorn Shed popcorn; Moisturising 'M&S Time Capsules'; Case of Boost Sport + 30 Just Eat voucher; Battle Proms tickets and hotel; under-eye serum...

    "Should know better." Apparently.
  • archived user
    Any other cash buyers here to give their views, over the noisy swarm of property-shills on here?

    It's amazing there are no cash buyers on a property buying forum.
    • hazyjo
    • By hazyjo 18th Sep 19, 1:49 PM
    • 12,459 Posts
    • 17,055 Thanks
    hazyjo
    Lots of FTBs. Just search for 'first time buyer' or 'FTB'. Those on here are usually in the process of buying. Not debating the market.


    The others clearly don't want to talk to you.
    2019 wins: Bottle of Prosecco; Popcorn Shed popcorn; Moisturising 'M&S Time Capsules'; Case of Boost Sport + 30 Just Eat voucher; Battle Proms tickets and hotel; under-eye serum...

    "Should know better." Apparently.
  • archived user
    Cash buyers are an extremely rare breed here, perhaps because noisy property shills chase them away with their abuse and insults. However, it is more likely they have gone AWOL from the market in general, not just from moneysavingexpert.com. Patures New and I seem to be the only ones on a mammoth national property buying forum.
    • bouicca21
    • By bouicca21 18th Sep 19, 1:54 PM
    • 4,707 Posts
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    bouicca21
    I had to rent for nearly 2 years after my marriage broke up. It cost me well over 20k and I resent every penny. I ended up as a cash buyer. Once upon a time I was a FTB.

    The point is that your first purchase costs real money but it insulates you from the market, and thereafter moving up or down the property ladder is little more than Monopoly money. If the price of your property is up, then what you want to buy is also up. If the price of your property has gone down, then so has the property you want to buy.

    My first house cost 25k, it would sell now for 400k. Buying and thinking long term is a no brainer.
    • caprikid1
    • By caprikid1 18th Sep 19, 1:57 PM
    • 902 Posts
    • 972 Thanks
    caprikid1
    Any other cash buyers here to give their views, over the noisy swarm of property-shills on here?

    It's amazing there are no cash buyers on a property buying forum.
    Originally posted by Diocletian II


    I think you are missing the point and misunderstanding stats yet again.


    MAYBE SOMEONE CLEVER ENOUGH TO SAVE / GENERATE ENOUGH WEALTH TO BUY PROPERTY DOES NOT WASTE TIME ON A FORUM SHOUTING ABOUT IT !.


    By hey you are the great statistician CRASHY.
  • archived user
    You are not a cash buyer in the current market. I'm looking for current cash buyers to see what they are currently thinking. They seem to be non-existent in the marketplace. It's very revealing when a whole class of buyers has gone AWOL from the market. Astonishing in fact.
    • caprikid1
    • By caprikid1 18th Sep 19, 2:04 PM
    • 902 Posts
    • 972 Thanks
    caprikid1
    You are not a cash buyer in the current market. I'm looking for current cash buyers to see what they are currently thinking. They seem to be non-existent in the marketplace. It's very revealing when a whole class of buyers has gone AWOL from the market. Astonishing in fact.
    Originally posted by Diocletian II


    Can you explain the relevance of "Cash Buyer".


    You are either a buyer or not.


    I guess your cash is inherited as you are clearly not smart enough to have generated it yourself.
  • archived user
    A cash buyer is someone who currently has cash to spend, and is browsing the marketplace. They are the most independent and liquid around, and will be aware that they are cash buyers, because they have cash on deposit or in liquid assets.

    The disappearance of an entire class of buyer from the market is really quite phenomenal. I wonder if/when it has happened previously.
    Last edited by Diocletian II; 18-09-2019 at 2:14 PM.
    • caprikid1
    • By caprikid1 18th Sep 19, 2:20 PM
    • 902 Posts
    • 972 Thanks
    caprikid1
    "The disappearance of an entire class of buyer from the market is really quite phenomenal. I wonder if/when it has happened previously."


    Can you please point us to some empirical evidence or is just something else you have made up on the spot ???


    Is there published figures out there you are relying on ? Previous forays into the market ?


    You have come into a wedge of cash you were not smart enough to generate and are so scared of losing a bit you will sit on the fence for ever.
  • archived user
    Cash buyers, apart from Pastures New and me, seem to be AWOL or in hiding on a property buying forum, which presumably reflects the marketplace.

    The noise on this forum is coming from the many many noisy property owner-shills, who are shouting their abuse and insults very loudly. But as they say, empty vessels make the most noise.
    • ReadingTim
    • By ReadingTim 18th Sep 19, 2:29 PM
    • 3,468 Posts
    • 5,194 Thanks
    ReadingTim
    A cash buyer is someone who currently has cash to spend, and is browsing the marketplace. They are the most independent and liquid around, and will be aware that they are cash buyers, because they have cash on deposit or in liquid assets.

    The disappearance of an entire class of buyer from the market is really quite phenomenal. I wonder if/when it has happened previously.
    Originally posted by Diocletian II
    However, the vast majority of buyers are not cash buyers - they require a mortgage. Therefore, the disappearance of a small and relatively insignificant class of buyer from the market is really quite small and insignificant. It has happened previously. However, the upward trend in prices continues.
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