Jump to content
House Price Crash Forum
Sign in to follow this  
toombs

Str But Should I Buy?

Recommended Posts

I sold to rent earlier this year with a view to reentering the market after prices came back to a more sensible level. (say 30-40% decreases)

I have been monitoring new builds in the North notts area ever since and have tried (and succeeded) in getting decent sized discounts.

Things are very quiet on the new build scene around my area and the builders seem to be pulling out all the stops to tempt the punters back.

I sold my 3 bed detached house not 2 miles from where the below house is for £160k (1000sq/ft)

The house type I am interested in was selling for £195k in mar/apr this year. Then it went very quiet. I have now got the same house for £149950 included with this is

full floor covering (any combo)

burglar alarm

integrated appliances (washer,dishwasher,dryer)

upgraded s/s double oven etc.

removals

stamp duty paid

legals paid

All of the above add up to approx £10k

There were 8 of these released and 6 have already been snapped up.

This property is 1427sq/ft in size thats 42% bigger for £10k less or £20k less if u dont take the extras)

Should we wait for further decreases or should we snap this up?

I know what we are going to do I was curious as to what the regular posters on here would do??

Share this post


Link to post
Share on other sites
I just want to live in the house have no plans in renting it out, sorry should have said in original post.

Yes we know that, but as Dr B said the rental yeild will be a good measure of whether the property is good value or not. So do you know what it would cost to rent this house?

Share this post


Link to post
Share on other sites
Similar properties are getting approx £600-650/mth

£650 a month so £7500 a year.

£7500 on £150,000 is a 5% yield which is ok in the current (insane) market but crap if prices revert to normal. So personally I'd expect the house to fall to about £110,000 or so but its your bet.

Share this post


Link to post
Share on other sites

Is this a mainstream builder or a small local one?

Just wanted to get an idea of who is doing the price slashing so we can gauge it against the others in the weeks to come.

Share this post


Link to post
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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.