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Sell before Brexit?

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2

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  • Satansallsmiles
    Satansallsmiles Posts: 27 Forumite
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    I'm currently selling, and Brexit is one of my considerations - If it does all go sideways as a result I'd rather be stuck in a house that has enough space and I want to be in for the next 10 years, rather than being stuck in my current property which is going to be too small in the next year or so.


    So I was going to move, but the pending brexit uncertainty has definitely moved the timeline up.
  • armchaireconomist
    armchaireconomist Posts: 370 Forumite
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    It's a brilliant idea, obviously post-Brexit we'll be back to living in mud and straw hovels and nobody will need houses anymore.


    In all seriousness, you might see some slight movement in the inflated markets down south where the foreign investor is king, but for the most part it will be negligible - the supply/demand issues facing our housing market will override any post-EU downfall.
  • phill99
    phill99 Posts: 9,093 Forumite
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    Stop looking upon your home as an investment. It is somewhere to live and bring up a family. You still need somewhere to live.


    Locally to me Brexit has had no affect on house prices. The opposite in fact. Demand still outweighs supply so that only results in one thing.


    Remember post Brexit there wont be a mass exit of Eastern Europeans. A lot of them are well settled with kids at school.


    Remember houses are for nesting not investing.
    Eat vegetables and fear no creditors, rather than eat duck and hide.
  • hazyjo
    hazyjo Posts: 15,470 Forumite
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    Will you look to sell every time there is a dip in prices? They don't always go up! I have been through two recessions and didn't feel the need to sell to use it to make money. Who knows how long it will take.


    My friend sold up in the mid-'90s as she wasn't too settled in their home, but prices started rocketing soon after and they couldn't afford to buy again. They have rented ever since (and she's regretted it). Without the aid of a crystal ball, it's a gamble.


    Also, it's just cost me £20k to move. It ain't cheap!


    IMO you'd be far better off overpaying, getting as much equity in it as poss to avoid any negative equity, then moving UP if prices fall drastically and taking the hit on your current cheaper property. What you will afford then in a buyer's market will be far more than you'd ever afford in a rising (seller's) market. Just my opinion...
    2023 wins: *must start comping again!*
  • sevenhills
    sevenhills Posts: 5,887 Forumite
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    I have read about another financial crash recently, or at least a downturn; me selling my shares and re-investing in something else is a non-starter.
    Brexit may well bring a downturn, I have no idea if that means house prices will rise faster or slower than inflation.
  • movilogo
    movilogo Posts: 3,186 Forumite
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    my thinking being that if leave won prices would drop

    It is less depending on leaving EU but more dependent on freedom of movement continuation or not.

    If population keep on increasing, house price will rise else it will fall.
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
  • Grenage
    Grenage Posts: 2,899 Forumite
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    Timing the market is near impossible, and any success will be dumb luck. Maybe prices will spike and you'll be 60k out of pocket, and maybe prices will crash 40%.


    No point speculating, especially when you've only got one house - just get on with your life and take the highs with the lows.
  • Marvel1
    Marvel1 Posts: 7,172 Forumite
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    Bought in 2007, crashed just after, not recovered, so I don't care = roof over my head, mortgage is affordable, lucky on the rates as they dropped and I benefited.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Comms69 wrote: »
    Define substantially...

    Like any major change there is a dip for a short period of time. But Brexit will have no real effect on prices.

    If you think you’re going to grab a bargain, you’ll most likely end up missing out.


    What do you base this thinking on?
  • goodwithsaving
    goodwithsaving Posts: 1,311 Forumite
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    Crashy_Time wrote: »
    What do you base this thinking on?


    I wondered when you'd appear.....
This discussion has been closed.
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