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right_freds_dead

Im Putting In An Offer...

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right thats it. i am going to put in an offer on an house i can just about scrape into. granted i have to get another lodger in with me, but the house is big and in the right place.

ive been on this forum for almost a year. bitterly resented the HPI that went on, but the rises are clearly over and my own projections of a long slide down 30% over 1-3 years, i figure im wasting my life for x amount of pounds.

i was looking at renting in the area, but rents are only 1/3 less than a purchase. i give in.

you can try and talk me out of it, but i am just about done.

ive heard all the arguments and im ready to defend them...

....from the dark side.

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Noone on here is better qualified to say what is best for you than yourself.

My take on the HPC is that we have only seen the market BEGIN hurting in the last 12 months so there is plenty more to come.

Edited by DonnieDarker

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i agree. there may be a crash. no make that WILL be a crash. it wont happen in 6 months, 12 or even 2 years. by their nature they are really slow. im 36. i dont have 3 years to wait in flat land. i cants stands no more.

after post crash. as long as i have my job i can still pay. price/inflation will eventually correct it and in 20 years i should be ok. rather than still renting a thrid rate hovel as i do now.

the sun is coming out....

if the economy really tanks. i will just be another pea in a pod. im sure they will defer payments or freeze something for the masses. i cant see half of england being made homeless. we'll still have to live somewhere ?

ive just had my limit of renting. im much too old to rent.

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right thats it. i am going to put in an offer on an house i can just about scrape into. granted i have to get another lodger in with me, but the house is big and in the right place.

ive been on this forum for almost a year. bitterly resented the HPI that went on, but the rises are clearly over and my own projections of a long slide down 30% over 1-3 years, i figure im wasting my life for x amount of pounds.

i was looking at renting in the area, but rents are only 1/3 less than a purchase. i give in.

you can try and talk me out of it, but i am just about done.

ive heard all the arguments and im ready to defend them...

....from the dark side.

You been on the crazy juice again? :unsure:

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ive just had my limit of renting. im much too old to rent.

I can see where your 'pain' is coming from.

Are you able to save a significant amount more by renting?

If so, perhaps you should simply treat yourself to some things (a holiday perhaps). I recently had a moment where I went crazy about saving constantly and had to blow a small amount. Compared to what it would cost me by blowing it on a property at the moment it is nothing though.

So, perhaps you can have some fun with the money you are saving that does not involve buying a house?

When you say you're "too old to rent" I take it you want to buy somewhere so you can start decorating it and furnishing it and all that jazz?

Are there other things you could do with the time you are fretting about this whilst prices adjust further?

Honestly, there are lots of people here (I am one of them) who spend too much of our time on this site waiting for prices to adjust. What we should all do is accept that prices will take at least 1 more year to fall significantly and do something else in the meantime.

Myself? I'm going to start teaching myself about stocks and shares, get extremely fit and plan a few holidays.

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im afraid not shakerbaby. strictly carrot juice and quavers.

its not ideal (that was 2001) but its all there is and there wont be more for at least 2 years. maybe never.

its big, its got land,. its 4x my current monthly rent, but i dont live in a luxury pad. i live in a very run down part of salford and ive been hunkering down for longer than the savings are worth. im sick of broken glass, on street parking, pollution and land'LORDS'. i looked at rents in the new area and they were a thrid less than a mortgage would be. that was the key point.

im tired with being obsessed with house prices. im tired of saving for a rainy day, when i might not live to see it. im joining the masses. sink or swim. if i dont - hey i might save 50k over 3 years. to me right now 50k is not worth 3 more years of living like this. i need an established address and cant flit about in better rental accom. i also have a dog and no one takes dogs.

i just got fed up to death. - though i totally agree a house correction is coming.

recession ? i hope not now.

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You know I could be tempted to make an offer on a house if there was any reasonable houses on the market.

All I see is shit houses on the market in SW London at the moment. Most are still trying it on price-wise and not much is changing apart from a slowing down of turnover. I do expect 25% drops over a period though.

We have found out my wife is pregnant, we are 30, we are tired. No matter whether its psychological or just nuts, we want a bolthole and we wouldnt be stretching ourselves for anything under the 250K mark.

We will wait though as there is only shit about - phew!

:ph34r:

Edited by pdg

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Guest Charlie The Tramp
if the economy really tanks. i will just be another pea in a pod. im sure they will defer payments or freeze something for the masses. i cant see half of england being made homeless. we'll still have to live somewhere ?

That has always been my fear that many borrowers will end up with lifetime mortgages, a bonus for the lenders.

We are entering uncharted territory and IMHO no one knows what will happen in the future, but can only hazard a guess, I`m certain it`s not going to be very pleasant.

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........i just got fed up to death. - though i totally agree a house correction is coming........

Why buy now when price falls have only just got going ?

They've got a lot further to go. You could save yourself thousands just by waiting another year.

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im tired of saving for a rainy day, when i might not live to see it. im joining the masses. sink or swim. if i dont - hey i might save 50k over 3 years. to me right now 50k is not worth 3 more years of living like this. i need an established address and cant flit about in better rental accom. i also have a dog and no one takes dogs.

OK. Now I see where you are coming from.

1/3 less to rent in the same area is still a fair saving.

To put things in perspective I and my GF are about to move into a flat where we will be paying only 15% less in rent than what we would be paying in mortage repayments. Perhaps I am the one who is mistaken?!

Why don't you try renting somewhere nice of 6 months...see how it goes. You've saved for this long, you deserve to live somewhere nice.

Edited by DonnieDarker

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That has always been my fear that many borrowers will end up with lifetime mortgages, a bonus for the lenders.

We are entering uncharted territory and IMHO no one knows what will happen in the future, but can only hazard a guess, I`m certain it`s not going to be very pleasant.

first dopstick, now RFD.... what is it with you pussies ?

talk about no staying power !

:lol::lol::lol:

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Ooh Fred I don't want to think my recent purchase has pushed you over the edge.

I know where you are coming from. I have animals and finding somewhere to rent has been a nightmare. I think I mentioned in other posts that I've even had to sleep in the car a few times. The trouble is that if you are trying to rent with animals you tend to have to take what you are offered and be grateful for it rather than going out and getting yourself a nice place to sit it out.

I know I've bought but for me ALL the signals were right. Not stretching myself financially, a small place, the environmentally friendly stuff.

I know that being in rented you don't like and can't function in is like being in a straight jacket, but being beholden to a building society for the rest of your life is far more restrictive in the long term.

I'm not trying to put you off. Just want you to have clear thinking time.

Coincidentally my sister is buying this week. Her circumstances are different. She is getting tied into a mortgage and is buying a property that potentially may need money spending on it. Yes she did get a good discount (20%) and even the surveyor said that at the original price it was a good deal, but I am still worrying for her.

Both of us are older than you: Me 10 years, her 5. We both know the feeling that our lives have been in limbo.

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right thats it. i am going to put in an offer on an house i can just about scrape into. granted i have to get another lodger in with me, but the house is big and in the right place.

right_freds_dead - this is surprising to me, I never thought you'd give in, especially as you've been one of the more vehement posters here.

Still I didn't know your age, and you must be feeling somewhat uncertain.

I take it you will have a 25 year mortgage.

Have you done a calculation to decide whether over this period you will be better off buying now (with the purchase price + interest + maintenance over the 25 years) or whether it's cheaper to rent for just a few more years and pick up a cheaper house with a cheaper mortgage later on that will more than offset the extra rent you will be paying ?

Edited by Warwickshire Lad

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right thats it. i am going to put in an offer on an house i can just about scrape into. granted i have to get another lodger in with me, but the house is big and in the right place.

ive been on this forum for almost a year. bitterly resented the HPI that went on, but the rises are clearly over and my own projections of a long slide down 30% over 1-3 years, i figure im wasting my life for x amount of pounds.

i was looking at renting in the area, but rents are only 1/3 less than a purchase. i give in.

you can try and talk me out of it, but i am just about done.

ive heard all the arguments and im ready to defend them...

....from the dark side.

There comes a time when a mans gotta do what a mans gotta do....although another year or two could make a huge difference. Best of luck :)

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What's going on on this site?

When I joined this forum a few months ago and said I was thinking of buying (given that I had inherited enough cash to buy somewhere outright without a mortgage) everyone shot me down and told me I was crazy.

Sure enough, over the last few months, I've seen asking prices in the West Kent area fall pretty dramatically, and have now just signed a new lease on another rental property for a further year, because I have been persuaded that the market will fall further.

I simply don't understand why everyone is now turning their backs on their own sound advice.

Given that I, too, am in my early thirties and have a three-year-old kid to boot, surely I should be the one caving in sooner? What on earth is so great about owning somewhere that you can't hang on at least another year, just to see what happens?

Surely if prices are falling in the South East, they soon will in the rest of the UK? I fail to see how it can be otherwise.

Wouldn't you be devastated to buy somewhere now and then see you could have bought somewhere much larger for the same money in 18 months' time? How will you feel if you can't upgrade within the next ten years because you've totally overstretched yourself?

I agree with you that it's probably going to take 4-5 years for the HPC to reach its lowest ebb, but you could probably pick somewhere up in 18 months' time for much less, couldn't you?

No one knows your situation better than you, Fred, but it sounds as though you're just having a bad day...

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ive just had my limit of renting. im much too old to rent.

Fred this reminds me of that Wayne Slob line .....I'm to old to be a wineo and to young to be a rent boy.

Fred tell me your just doing one of your wind ups again

My Daughter just sold her house and gone into rented with 2 rabbits, a cat a dog and a 5 year old, on her own, nice two bed bungalow with fantastic views.

You quit now and all the hassle you have put up with has been wasted. Twelve months from now will be so different. You don't have to wait for "the" bottom, but for christ sake give it twelve more months. You could end up kicking yourself.

I'll come round and give you a slap if it helps :ph34r:

Edit: goldfish I forgot the goldfish 3 of em

Edited by Catch22

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RFD I think you are winding us up anyway.

I will buy in a couple of years to get the same house for a lot less, and overpay my mortgage and pay it off in less that 25 years. I will have saved a lot more deposit by then and will have less debt. My Mrs might decide to get a job by then as well.

How is your life on hold??

Why not try to rent privately, don't you have a free ads in your paper to advertise yourself a place with your pets.

Or just don't tell the landlord and take the dog for a walk when they come to look around(and make sure its unfurnished!).

Haven't been to Salford for a few years, ahem a lot of my familly come from there...its ermm charming. I don't blame you for being despondent. I would prefer to take a train in from one of the small towns in the peaks.

Good luck whatever you do and I hope you keep on posting here!

C.P.

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loads of responses. thanks for all the support.

i know it doesnt make sense financially.

-and i know ill lose at least 40k by my own sums initially.

but im losing life. this is more important to me at my age and under my circumstances.

no staying power ? true. but im no spring chicken and recent sad circumstances put on too much pressure.

had i been 25, single and dogless and without family pressure id have saved myself a packet.

if i continue to save by renting life will simply pass me by and not all lifes rewards are financial.

i need a stable family home. and you cant rent such a thing,.not for 40 years.

note also. the circumstances changed end of aug. i have tried to manage, but it doesnt cut it.

im sad to go, and despite my own money loss i have the understanding that my loss will be your gain.

have a happy crash.

war is hell etc...

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recent sad circumstances put on too much pressure.

:huh: Are we talking bereavement in the family, something like that? Why would that force you to buy a house?

had i been 25, single and dogless and without family pressure

So basically you're buying because your missus and parents are putting pressure on you to buy?

By the way, refusing to rent you a property because you have a pet is illegal.

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What we call the secret of happiness is no more a secret than our willingness to choose life.

Leo Buscaglia

I think you’re being sincere, but then I don’t know you as well as others here. I’m responding, because I think you don’t need anyone else to validate your decision. Personally, I like it when people make choices for the right reasons, and normally it is their reasoning. If after spending a year reading all that has been said on HPC and more, and you still want to buy, then I trust you’ve made the right decision. Life isn’t about houses (and wonky hats!) as I think you recognize.

What’s odd is the response that I see where people perceive you to have failed. Failed in what exactly? Living up to their expectations? Your decision only seems to inspire some insecurity in them about how they live. Is it in your or their interests for you to live like them? I wish I had the verve to say fuc -em, but those days are past me.

Anyway, I also enjoyed your signature which for the sake of those who missed it here it is in normal print.

"very soon, and sooner than you think we will look back at the likes of B&Q, TK Max and Matalan and see them as simply ships for the passage of time. haunted by the ghosts of shoppers long since past and goods that faded into dust with each passing christmas season. one day we will return to those empty, desolate sites. defunct and backwatered and windblown. and we will cry for our regrets and for the people we can still hear in the echos of the last abandoned trolley wheels, turning to rust in the wind of the spirits, in the ditch, on the crumbling car park boundary. we can only turn to god and hope that he who made these golden moments past, has stored them for us to share again. for this my friends, is love and life itself."

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yes a death in the family has left me with two unruly teens, so i can either walk away and leave them to drugs, social services and the like or take over the job and live with it.

a possible 40k loss is a small price to pay.

+ i was really tired of it all. but thats the main reason.

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the circumstances changed end of aug.

sorry mate, only you know what you got to do.

But hang on there is no need to just disappear, talk us through it all tell us how you now feel making the decision to "free" yourself. Tell us how you feel that night you lock your own door for the first time and collapse into that chair.

Lets not all be in denial, owning your own place does give you a sense of well being [ if you can keep up the payments] And RFD is right there is more to life than money, but I must say going against all you believe will happen, and then it happens .......well it will live with you for along time. Such decisions will be made by many as this correction unfolds, are we going to banish them in case they contanimate the rest of us?

Edit: just noticed your new post, really feel for you mate

Edited by Catch22

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  • 334 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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