Jump to content
House Price Crash Forum

Have I Done The Rught Thing?


Recommended Posts

0
HOLA441

Hi all

1st ever post sorry but couldnt be bothered with the newbie posting thingy.

I've just accepted an offer on my house for completion mid August. No chain cash buyers. I'm going to rent for a while with a nice tidy sum of equity sat in the bank.

AM I MAKING THE RIGHT DECISION ?????

Link to comment
Share on other sites

1
HOLA442
2
HOLA443
3
HOLA444
Hi all

1st ever post sorry but couldnt be bothered with the newbie posting thingy.

I've just accepted an offer on my house for completion mid August. No chain cash buyers. I'm going to rent for a while with a nice tidy sum of equity sat in the bank.

AM I MAKING THE RIGHT DECISION ?????

I try not to ever advise, but you have done it, and I personally think that if you relax, and be patient and rent for a few years at least, then I think that you will be glad that you have sold before considerable further falls.

The people who will say the opposite will, imo, be VIs (or dupes of VIs).

Edited by Fly by Night
Link to comment
Share on other sites

4
HOLA445

We str in March 08, happy days, locked in at 6%plus and no worries Just over a year later the interest rate has halved , but the return from our equity still exceeds the rental for a decent house.Didn't have the courage to lock in longer.

So the maths is still a no brainer, and of course, we can buy a house for at least 15% off last years price.

For us the plus side is that we can consider all options, move area, upsize or downsize, very easily and not face major costs (stamp, conveyancing, etc) and of course we pay no unforseen maintenance bills.

The downside is that having owned family homes for yonks you miss the home/castle thing, feeling of security and it effects some family members more than others.

Would I do it again? In a moment, but I still think we will buy eventually, although I am not sure why!

Link to comment
Share on other sites

5
HOLA446
The downside is that having owned family homes for yonks you miss the home/castle thing

Man I wish I owned a castle. With real cannons.

Edited by Nikelodeon
Link to comment
Share on other sites

6
HOLA447
Hi all

1st ever post sorry but couldnt be bothered with the newbie posting thingy.

I've just accepted an offer on my house for completion mid August. No chain cash buyers. I'm going to rent for a while with a nice tidy sum of equity sat in the bank.

AM I MAKING THE RIGHT DECISION ?????

Selling: Probably yes.

Asking for validation on the internet: Definitely no.

Typing all caps with 5 question marks: priceless.

Link to comment
Share on other sites

7
HOLA448
8
HOLA449
Hi all

1st ever post sorry but couldnt be bothered with the newbie posting thingy.

I've just accepted an offer on my house for completion mid August. No chain cash buyers. I'm going to rent for a while with a nice tidy sum of equity sat in the bank.

AM I MAKING THE RIGHT DECISION ?????

Hey, any time you sell something for a profit it's kudos.

Just make sure that you are doing this from an objective viewpoint, that's my 2p.

Link to comment
Share on other sites

9
HOLA4410

Dunno.... it's like those programmes on the telly where you "bank" the money ... and then there's an excruciating wait as other numpties get to play before you can have another go.

I STR'd at peak (mid 07). There are many ways to calculate if it's right or wrong .... but you won't know until you buy your next one and look back in 10 years' time really.

Good luck... at least your weekends are free now of DIY and improvements, buying stuff etc etc.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information