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Thinking of Buying

This page is written for people considering buying a home to live in rather than investing.

Contents 1 Advantages of buying now 2 Disadvantages of buying now 3 If you must Buy 4 You should think about:

Advantages of buying now

• You don't have to pay someone else's Mortgage - Why renting is not dead money
• You could make money - Some think prices may go up say 5% - Price Forecasts
• etc.

Disadvantages of buying now

• There could be a house price crash
• Prices will struggle to keep up with Real Inflation. Price Forecasts
• Protection of capital (see investments)
• If you are selling for other reasons, no transaction costs
• Loss of freedom
• During the House Price Crash Stamp Duty was reduced thus saving a significant amount of money.
• etc.

If you must Buy

Please make sure that if you are going to buy now, buy somewhere that you can happily live for up to 5 or even 10 years. In the event there is a House Price Crash, you may have to wait that long before prices recover sufficiently before you are able to sell without making a loss.

• Go for a long term, fixed rate Mortgage

You should think about:

• Whether prices are curently: rising or dropping
• The type of property most at risk in a house price crash
• The possible triggers for a house price crash