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How many times do you plan on moving? Due to 'flat' prices and rising costs I am hearing more and more that only one purchase move is possible, and expectations are being adjusted. Losing faith in the ladder?

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How many times do you plan on moving? Due to 'flat' prices and rising costs I am hearing more and more that only one purchase move is possible, and expectations are being adjusted. Losing faith in the ladder?

I know people that are not moving due to property prices and the associated taxes fees, they have shed loads of equity, speficially not becuase the prices are flat becuase they are so high.

When people move they make significant purchases for homewares, decorations, carpets, furniture etc. The current situation is a killer for those involved in flogging such goods.

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How many times do you plan on moving? Due to 'flat' prices and rising costs I am hearing more and more that only one purchase move is possible, and expectations are being adjusted. Losing faith in the ladder?

HPI makes moving up the 'ladder' harder. In theory falling prices mean you can do it cheaper and therefore more often.

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I now plan on moving exactly zero times. When we bought in the last crash I remember saying to my then fiancée "let's buy something we'd be happy spending the next 10 years in". So we skipped the flats and starter homes and got a 3-bed which we have extended into a 4-bed as kids came along. Not the biggest house by any means, but don't need any more. Been here 15 years now. I smile every time I think of the stamp duty I've saved (why do have a mental picture of Gordon Brown waving hist fists at me?) as many of our friends have moved at least a couple of times since we bought. This is why I recommend people to hold on and skip the bottom rung/s of the ladder.

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When we moved into our flat we had no plans to shoot up the ladder so we got a big 2 bed flat to stay in for at least 10 years. 6 years on to just get a very small increase in floor area and a garden your looking at +120-140k really. Now the place is over half paid off the idea of sacrificing that much of the salary again seems insane.

So I got an allotment for £25 instead, if I let it go to wilderness at least I don't have to look at it.

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I know people that are not moving due to property prices and the associated taxes fees, they have shed loads of equity, speficially not becuase the prices are flat becuase they are so high.

When people move they make significant purchases for homewares, decorations, carpets, furniture etc. The current situation is a killer for those involved in flogging such goods.

...agreed, you almost need a second mortgage to pay the moving and associated costs that come with buying a place, it can run up to a hefty sum. The last thing you want to do if you can help it is start living in a new home with too big a debt that can make life stressful to you and others around you......cut up the credit cards if money is tight and live with secondhand, borrowed or gifted household items, many of them you may find you begin to grow and love, often they can be better quality than new stuff anyway.....newer a better stuff can be bought gradually over time, that is the fun of it. ;)

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...agreed, you almost need a second mortgage to pay the moving and associated costs that come with buying a place, it can run up to a hefty sum. The last thing you want to do if you can help it is start living in a new home with too big a debt that can make life stressful to you and others around you......cut up the credit cards if money is tight and live with secondhand, borrowed or gifted household items, many of them you may find you begin to grow and love, often they can be better quality than new stuff anyway.....newer a better stuff can be bought gradually over time, that is the fun of it. ;)

Yip. There's a lot of DIY / Spring Cleaning type weekends coming up. We furnished half our place for free with some really good quality stuff we picked up this time last year through Freecycle.

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I keep having friends and EAs tell me to buy any house as it will be just one of many I buy in the coming years.

I disagree and am looking for a house as a base for the next 20 or 30 years - until I buy a retirement place or go into a home or die.

I think the OP is right. The costs of moving home are just too prohibitive now. Get it right first time people.

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Just bought a final house, suitable to extend with the kids, also have a single-storey annexe to fix up in the garden to move into when old and grey and then rent the house out as an income, or hand it over to the kids.

Stamp duty paid was best part of £10K, will never do that again. Stamp duty on my first house in 1997 was less than £2k, pretty similar to the current house.

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HPI makes moving up the 'ladder' harder. In theory falling prices mean you can do it cheaper and therefore more often.

I agree with this in terms of logic but in reality when prices go up there is a clamour of people desperate to get on the market before it 'get's out of reach'

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I am moving more frequently but thankfully renting is far cheaper to move but you do no decorating/improvements/expensive whit egoods.

Maybe they'll introduce a renters' "stamp duty" to prop up the market.

Edited by daiking

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HPI makes moving up the 'ladder' harder. In theory falling prices mean you can do it cheaper and therefore more often.

You are undoubtedly right, but in one way hpi can help : hpi can increase your capital in the home, and you have a bigger

percentage to put on the next house ... true the mortgage is higher , but expectation of wage rises matches (well it did when

we sold our first home). Our tale is : bought in lboro in 71 , 1k deposit 3k mtge , 4k price. sold in 74 for 7k5 (new houses like

ours were 8k) , bought next house for 12k5 , with 8k4 mtge and 4k1 deposit . With that inflation, could expect salaries to rise

fast , plus at start of career, would expect rises anyway.... we were in the right place at the right time (more the right time).

and in terms of the op , we have moved once (sold and bought a house to live in) and *may* do once more but as others

have said the moving costs will be a big factor.

cheers,

rockhopper

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I agree with this in terms of logic but in reality when prices go up there is a clamour of people desperate to get on the market before it 'get's out of reach'

only if money is available.

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We'd love to move, but the money it would cost us would pay for a new kitchen, bathroom, a whacking great conservatory and probably enough change for a small car. Can I justify moving? No chance.

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  • 284 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%



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