Jump to content
House Price Crash Forum
Sign in to follow this  
Waiting Patiently

For Those In The Process Of Buying A House.......

Recommended Posts

If you are currently in the process of buying a house you are almost certainly paying far too much for it IMO.

Massive debt has been building up, serious problems in the economy are coming to a head, and public sentiment towards the house market is now turning fast.

House prices look like they are on the verge of diving (anyone remember late 89/90 ? Prices fell rapidly as the crash took hold and it seems increasingly clear to me that we are close to a similiar point today)

You could save yourself thousands by waiting just 6 months, more by waiting 12 months and even more (or buy a far better house) by waiting longer.

Based on historical precedence, the dire state of the economy, debt etc my view is that we will be seeing some reductions in some areas of 20 to 30% at least within 12 months. It may be several years before we reach the bottom though the biggest drops will come in the first couple of years.

So wait or buy now ? Its your choice.

All IMO of course though it seems others may agree to some extent.................

1336673.jpg

Share this post


Link to post
Share on other sites

I have just bought, 34% off original asking price! sold mine in april at 5% off asking price.

There are some good deals to be made now, more so over next 12m I am sure.

Share this post


Link to post
Share on other sites
I have just bought, 34% off original asking price!

Of course, if the original asking price was ridiculously high (ie kite-flying: advertising a property at an asking price way over it's market value, in the hopes that some chump will come along and gift you an early retirement) then the actual discount will be much lower; however any reduction is encouraging.

Share this post


Link to post
Share on other sites
I have just bought, 34% off original asking price! sold mine in april at 5% off asking price.

There are some good deals to be made now, more so over next 12m I am sure.

Well done digby!

And a reminder to those of you out there who for one reason or another are looking to buy now, for heavens sake haggle like an extremely obstinate donkey! (if donkeys could participate in property transactions).

If you're not embarrassed by your offer, you're offering too much!

frugalista

Edited by frugalista

Share this post


Link to post
Share on other sites
Of course, if the original asking price was ridiculously high (ie kite-flying: advertising a property at an asking price way over it's market value, in the hopes that some chump will come along and gift you an early retirement) then the actual discount will be much lower; however any reduction is encouraging.

Really !

Houses are valued of what they are worth in the Current market ! Not ridiculously high but the current market - simple. Yes house prices are higher than a few years ago however there are very good bargains out there to be had like it or not.The property i have just bought , which i bought at a very good price will never be lower than my purchase price.The reason for this is work needs doing to it.The work is cosmetic however all the way through due to dirty renters.The renters have done me a huge favour as i have bought for 50k under asking price.Now i am not gulible like you bears seem to think home buyers are! We all check land registry before we buy.We all know what other similiar properties have sold for! So with the huge profit i made from the sale of my old house ( which i sold last month full asking price) I have now got a huge house for a damn good price with a profit it on it all ready.

No doubt you will leave pedantic comments etc but the end of the day - i have my own property , in the best location in my town.I dont put others down for buying nor am i bitter because i missed the boat like ooh so many renters.

Share this post


Link to post
Share on other sites
Really !

Houses are valued of what they are worth in the Current market ! Not ridiculously high but the current market - simple. Yes house prices are higher than a few years ago however there are very good bargains out there to be had like it or not.The property i have just bought , which i bought at a very good price will never be lower than my purchase price.The reason for this is work needs doing to it.The work is cosmetic however all the way through due to dirty renters.The renters have done me a huge favour as i have bought for 50k under asking price.Now i am not gulible like you bears seem to think home buyers are! We all check land registry before we buy.We all know what other similiar properties have sold for! So with the huge profit i made from the sale of my old house ( which i sold last month full asking price) I have now got a huge house for a damn good price with a profit it on it all ready.

No doubt you will leave pedantic comments etc but the end of the day - i have my own property , in the best location in my town.I dont put others down for buying nor am i bitter because i missed the boat like ooh so many renters.

Why do you visit this site then?

Share this post


Link to post
Share on other sites
I have now got a huge house for a damn good price with a profit it on it all ready.

No, you haven't made a profit on it already. You might make a profit after transaction costs if you sold now, but unless that money is in the bank you haven't made a profit. If you want to be taken seriously here you shouldn't make this sort of elementary error. Call me pedantic if you like, [ Removed by Moderator ]

Share this post


Link to post
Share on other sites
No doubt you will leave pedantic comments etc but the end of the day - i have my own property , in the best location in my town.I dont put others down for buying nor am i bitter because i missed the boat like ooh so many renters.

Is this "PropertyGuru" back from his cruise. I'm sure Jesus loves you but....

.

.

.

.

.

.

.

.

.

.

.

.

.

.

[ Removed by Moderator ]

Share this post


Link to post
Share on other sites
No, you haven't made a profit on it already. You might make a profit after transaction costs if you sold now, but unless that money is in the bank you haven't made a profit. If you want to be taken seriously here you shouldn't make this sort of elementary error. Call me pedantic if you like, [ Removed by Moderator ]

Face it , like i said if i sold now i would make a huge profit!Transactions costs taken from it i would still make a huge profit!.This is a much saught after location properties rarely come on the market in this location.You do not know the location nor the area so cannot comment.There are bargains to be had out there just because you cant find one nor have the inclination dont think everyone is looser like yourself.

Share this post


Link to post
Share on other sites
Face it , like i said if i sold now i would make a huge profit!Transactions costs taken from it i would still make a huge profit!.

You have not made a profit until you have sold and the money is in the bank. You have not even realised the "profit" from your previous property, because you have reinvested the money in the same asset class. If house prices fall seriously, you lose not only your "profit" on this property but also your previous "profit".

.The property i have just bought , which i bought at a very good price will never be lower than my purchase price.

There is no way you can know that. If there is a crash, the price of your house WILL go lower than your purchase price plus what you have spent on refurbishment.

Share this post


Link to post
Share on other sites
You have not made a profit until you have sold and the money is in the bank. You have not even realised the "profit" from your previous property, because you have reinvested the money in the same asset class. If house prices fall seriously, you lose not only your "profit" on this property but also your previous "profit".

There is no way you can know that. If there is a crash, the price of your house WILL go lower than your purchase price plus what you have spent on refurbishment.

I do have a profit i have sold.I have reinvested in another property yes.If house prices fall seriously which is all "ifs" , it will NOT go lower than the price i have "actually" paid.I do know this i invest money wisely.Very very few of these properties ever come on the market.If i were to market which i have no intention of selling, though i have had an offer.

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.