Jump to content
House Price Crash Forum

I Am Soo Tempted To Buy...


Recommended Posts

My first baby Badger is due in just under 2 weeks. We're renting and loving it, having just decorated the 'nursery' and nesting big time.

I know just how you feel, but focus on parenthood and beware of envy and regret - that green grass on the other side is only astroturf.. Good luck!

Well said that man!

To the OP, if you can afford it, go for it. Only you can do the sums. FWIW, I think amatuer landlords are not going to be as fickle about decorations etc as they have been in the past 10 years as it's no longer about capital appreciation anymore, its going to be more focussed on keeping a decent tenant that pays the monthly rent on time.

Link to comment
Share on other sites

I can't see clearly at the moment... we have a baby on the way and I keep dreaming of doing up a baby bedroom.

Also, a couple turned up earlier to view the property next door to us, with a newborn baby! It just looked so right and I was wishing I was in their shoes :unsure:

Am I losing my marbles? If so please talk me out of it :)

DON'T!

Link to comment
Share on other sites

When you can wallpaper an ABC border into the nursery, negative equity and rising interest rates fade into insignificance, apparently.

abc-border.jpg

But you can't do up a room in rented accommodation ... it's a cardinal sin! ... I mean what a waste of £100 the landlord gets to profit from you hard work :o

</sarcasm>

I would say BUY if the repayment mortgage + maintenance costs is less than the rent on a 10 year fixed rate mortgage. Run that test!

Also if your carry on renting make sure you have a PROFESSIONAL landlord, one who will have you there for a few years and does decent repairs and is responsive and has a large equity stake.

Link to comment
Share on other sites

Well, if I could see into the future then yes, I might not buy. Then again, if I could see into the future I would probably have bought 16 months ago when everyone on here was saying much the same thing.

Try looking at the past and the present.

In the past we've had massive price increases that have turned out to be bubbles and which resulted in massive price decreases.

In the present we've got massive price increases followed by massive price falls followed by more huge increases.

It might be that property is fairly valued, but the chances are that it isn't. And if it isn't then the logical next step is down.

Link to comment
Share on other sites

Unless you are buying in cash then remember it's still the banks house and you are in fact not the owner.

Just a thought as I suspect the gubmint will NOT be paying unemployed people's mortgages at 6.08% for much longer.

Big deposit, cheapish price then the peace of mind for you might be best - if you have enough money to ride through any rough seas.

Good luck.

Link to comment
Share on other sites

Don't do it. I'm assuming this is your first baby, and if so - trust me. You dont know what your letting yourself in for. Babies are far, far more work than you can possibly imagine. The responsibility, the sleepless nights, the colicky days, the constant crying for no reason. You'll get no cup of tea in peace in the morning, no peaceful evening meal, no popping out for a drink anymore. I've been there & done it. Of course you wouldnt' be without the baby, but definitely rent for a while once baby is here. That will at least take the financial pressure off. Good luck and whatever house prices are doing, they're not going up, so there is no rush!

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...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • 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.