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best time to buy?
i am thinking of buying a house for the first time do you think that i should wait to see if they come down now that gorden brown has made all these promises to make it easier for first time buyers?
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promises promises!! he's still a politician ;)
i've actually heard (from various sources) that the interest rates are going to rise, therefore, as always, there will be a panic with owners to 'sell up' and go into rental - which is a mistake (just sit it out). as a buyer, that does put you in a good position, but the property market is so stuipidly unpredictable...who knows??
theres no harm in looking at property now and seeing what your money will get you, and theres no reason why you can't ask the agent how long each property you're interested in has been on the market for. Anything longer than around 6 months suggests you can be extra cheeky and offer less than you would for a property new to the market. Buying property is all a game anyway (a very serious one!)...put it this way, have you ever seen phil and kirsty suggesting to over the full asking price? Never! knowledge is power - know your area, your budget, and stick to it and no matter what time you buy you'll be a winner. There will be dips and jumps in the market forever, but at the end of it, you'll have equity, and a step on the ladder
A fab websites such as Our Property (free to register) gives updates on market rumours (as thats all they really are) and also will give you the actual SOLD prices for the postcode you're looking at, which is what you really want to know. An "asking" price is simply that.
Oo essay, sorry!! Anywho, enjoy the whole experience, its awesome...then use me to furnish it!! *lol*
*kind of joking*
EmEd x
i've actually heard (from various sources) that the interest rates are going to rise, therefore, as always, there will be a panic with owners to 'sell up' and go into rental - which is a mistake (just sit it out). as a buyer, that does put you in a good position, but the property market is so stuipidly unpredictable...who knows??
theres no harm in looking at property now and seeing what your money will get you, and theres no reason why you can't ask the agent how long each property you're interested in has been on the market for. Anything longer than around 6 months suggests you can be extra cheeky and offer less than you would for a property new to the market. Buying property is all a game anyway (a very serious one!)...put it this way, have you ever seen phil and kirsty suggesting to over the full asking price? Never! knowledge is power - know your area, your budget, and stick to it and no matter what time you buy you'll be a winner. There will be dips and jumps in the market forever, but at the end of it, you'll have equity, and a step on the ladder
A fab websites such as Our Property (free to register) gives updates on market rumours (as thats all they really are) and also will give you the actual SOLD prices for the postcode you're looking at, which is what you really want to know. An "asking" price is simply that.
Oo essay, sorry!! Anywho, enjoy the whole experience, its awesome...then use me to furnish it!! *lol*
*kind of joking*
EmEd x
People have been predicting a price crash for years and they still keep rising - I think in my first conversation on here over 2 years ago someone was trying to convince people a price crash was imminent. If you'd hung around then waiting for the crash you'd be pretty sick now.
Despite all the interest rate rises prices went up by 1% last month alone so I'd probably not hold my breath waiting for prices to come down!
However if you're having trouble raising the mortgage amount you might find that there are more initiatives coming out, 100 year mortgages, part buy, part rent solutions, things like that.
Ironically this sort of thing will probably help push prices up as more people find that they actually can get on the housing ladder after all.
So I'd say if you can buy now do
Despite all the interest rate rises prices went up by 1% last month alone so I'd probably not hold my breath waiting for prices to come down!
However if you're having trouble raising the mortgage amount you might find that there are more initiatives coming out, 100 year mortgages, part buy, part rent solutions, things like that.
Ironically this sort of thing will probably help push prices up as more people find that they actually can get on the housing ladder after all.
So I'd say if you can buy now do
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