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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 8
    • Yalpsmol
    • By Yalpsmol 19th Sep 19, 2:06 PM
    • 204 Posts
    • 228 Thanks
    Yalpsmol
    Im confused now. You said you were a FTB and wanted to hear from other FTBs. But you aren't a FTB.
  • archived user
    No. I've never said I am a FTB. I'm a third time buyer to be precise.
    • Yalpsmol
    • By Yalpsmol 19th Sep 19, 5:47 PM
    • 204 Posts
    • 228 Thanks
    Yalpsmol
    Your previous post referencing "other cash, first time buyers" (rather than cash OR FTBs) confused me.

  • archived user
    I just figure that many of the issues cash buyers face are similar to FTB issues, essentially buyers with nothing to sell, in the estate agent lingo.
    • Slithery
    • By Slithery 19th Sep 19, 9:04 PM
    • 2,059 Posts
    • 3,432 Thanks
    Slithery
    I just figure that many of the issues cash buyers face are similar to FTB issues, essentially buyers with nothing to sell, in the estate agent lingo.
    Originally posted by Diocletian II
    What a ridiculous concept.

    The majority of potential FTB's are only still FTB's because they haven't saved up enough cash for a deposit yet. There are practically zero FTB's that can afford to buy that are holding out trying to guess the market - they tend to buy as soon as possible.
  • archived user
    Both are classed as 'nothing to sell', in estate agent lingo.
    • rash.m2k
    • By rash.m2k 20th Sep 19, 11:22 AM
    • 944 Posts
    • 257 Thanks
    rash.m2k
    Why don't you just mortgage the unencumbered property?
    Originally posted by Glover1862
    Easy saying that now, wasn't thinking back then pal!
    • rash.m2k
    • By rash.m2k 20th Sep 19, 11:26 AM
    • 944 Posts
    • 257 Thanks
    rash.m2k
    Would another great financial crisis starting to get underway give you more pause for thought? The talk is of central banks losing control this time round. The Bank of England cannot cut interest rates sufficiently to fight off a recession and rescue the markets. Historically, it takes a 4-5% cut to bring about a recovery. It's already on only 0.75%, so it does not have room for much more cutting.
    Originally posted by Diocletian II
    Very valid point, hadn't really given it much thought. You are right another recession and they have no more room to cut interest rates.

    With respect to buying or waiting - it's simple, if you're renting then buy right now why would you pay someone elses mortgage? But i'd buy something cheap, that isn't going to lose much.

    If not then wait unless the right property comes along.
  • archived user
    Very valid point, hadn't really given it much thought. You are right another recession and they have no more room to cut interest rates.

    With respect to buying or waiting - it's simple, if you're renting then buy right now why would you pay someone elses mortgage? But i'd buy something cheap, that isn't going to lose much.

    If not then wait unless the right property comes along.
    Originally posted by rash.m2k
    Yeh, I've thought about buying somewhere cheap in the meantime. But the problem with doing that is the 3% stamp duty surcharge on buying the second (and more expensive) place, if the first place won't sell without making a loss.
    • george4064
    • By george4064 20th Sep 19, 10:27 PM
    • 1,351 Posts
    • 1,348 Thanks
    george4064
    OP, first time cash buyer here and I think you’re deluded from what I’ve read.

    I really think you need to reconsider your viewpoint and try to comprehend what others are saying. You don’t seem to have a clear objective in mind, nor can you accept that other people have their own opinions, that god forbid, disagrees with yours.
    "If you arenít willing to own a stock for ten years, donít even think about owning it for ten minutesĒ Warren Buffett

    Save £12k in 2017 - #003 £12,427.51 (104%)
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  • archived user
    I'm afraid there is nothing on the market I want to buy. I'm not about to be persuaded by strangers here, advising me to hand over hundreds of thousands of pounds for properties that make me want to vomit - I've never heard more ridiculous advice. I'll be holding on to my money for the moment, thanks.
    • babyblade41
    • By babyblade41 21st Sep 19, 6:01 AM
    • 1,409 Posts
    • 2,601 Thanks
    babyblade41
    I'm afraid there is nothing on the market I want to buy. I'm not about to be persuaded by strangers here, advising me to hand over hundreds of thousands of pounds for properties that make me want to vomit - I've never heard more ridiculous advice. I'll be holding on to my money for the moment, thanks.
    Originally posted by Diocletian II
    ..Then hopefully you will take your deluded ramblings elsewhere if it's all ridiculous advice.

    I'm not sure why, apart from attention seeking , you posted in the first place
  • archived user
    ..Then hopefully you will take your deluded ramblings elsewhere if it's all ridiculous advice.

    I'm not sure why, apart from attention seeking , you posted in the first place
    Originally posted by babyblade41
    Afraid not.
    • MobileSaver
    • By MobileSaver 21st Sep 19, 12:39 PM
    • 1,965 Posts
    • 2,991 Thanks
    MobileSaver
    I'm not sure why, apart from attention seeking , you posted in the first place
    Originally posted by babyblade41
    The OP got taken in hook, line and sinker by the HPC hype and sold to rent a couple of years ago.

    Several years on they've wasted tens of thousands of pounds on unnecessary rent and are now looking for someone, anyone, to tell them they didn't make the biggest financial mistake of their life.
    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
  • archived user
    The OP got taken in hook, line and sinker by the HPC hype and sold to rent a couple of years ago.

    Several years on they've wasted tens of thousands of pounds on unnecessary rent and are now looking for someone, anyone, to tell them they didn't make the biggest financial mistake of their life.
    Originally posted by MobileSaver
    I pay rent to friend, about £7-8k so far. If I had held on to my Fulham pad, I would now be a couple of hundred grand down. Do the maths.
    • MobileSaver
    • By MobileSaver 21st Sep 19, 12:47 PM
    • 1,965 Posts
    • 2,991 Thanks
    MobileSaver
    I pay rent to friend, about £7-8k so far.
    Originally posted by Diocletian II
    Of course you do.

    If I had held on to my Fulham pad, I would now be a couple of hundred grand down.
    Originally posted by Diocletian II
    Of course you would!
    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
  • archived user
    Provide proof that I am lying if you are so sure. Youre just like that Short Crust on the other thread 'Did I offer too much'.
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