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iLegallyBlonde

How Long Can You Wait ?

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We've come to the conclusion we can only wait another year at the absolute most.

Rental properties are fine but it's a PIA moving every twelve months which we have now done twice.

I think we've decided where we want to be geographically now so it's a case of praying the EA's round here aren't actually as thick as they look and the prices start dropping.

BTW a house I had my eye on before Christmas and decided I would wait until after spring to make a cheeky offer on has SSTC and one round the corner from it in worse decorative order has come on for £5k more, I dispair.

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We've come to the conclusion we can only wait another year at the absolute most.

Rental properties are fine but it's a PIA moving every twelve months which we have now done twice.

I think we've decided where we want to be geographically now so it's a case of praying the EA's round here aren't actually as thick as they look and the prices start dropping.

BTW a house I had my eye on before Christmas and decided I would wait until after spring to make a cheeky offer on has SSTC and one round the corner from it in worse decorative order has come on for £5k more, I dispair.

I`m sick and tired of waiting as well and I`ve only been looking for 4 months!

People on here are very optimistic, but the truth is it could take years before theres any significant correction.

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I could wait for the next decade or two, i could pack my bags and leave the country tommorow if i wanted to. I have no dependants, no mortgage and a bit of cash. I could wait for ages.

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I could wait for the next decade or two, i could pack my bags and leave the country tommorow if i wanted to. I have no dependants, no mortgage and a bit of cash. I could wait for ages.

I STR (job move) in late 2003 and am renting an upscale "boongalow" as it is called around here, for 750 a month. Market value about 350k. The proceeds of sale are safely tucked away in a savings account paying over 4% which are enough to pay my rent. Not only am I living effectively rent free but I am watching prices around here drop by about 10% last year (West Midlands) with every hope of another 10% this year unless there is a crash in which case there will be bargains galore. I have never been so well off not owning a depreciating house!

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I'll wait as long as is necessary. You'd have to drag me kicking and screaming to the EA's.

By the way, heard the statements, "renting is dead money" and "property prices never go down" again this week from someone who really believed this (hopes to sell on in 2 years for a profit). Surely, the end is nigh!!

Also heard from someone who bought their place in 2004 that they bought it "as an investment" - see, it could be worse. :D

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Hope to buy this year - December 31st if need be but If it goes into next year then so be it.

Im 38 this year so I need to get a mortgage started soon!!

TB

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nerves of steel. I won't bother buying at all if this madness never ends.

and that won't stop me from procreating or enjoying a comfortable retirement, I am confident of that.

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Hope to buy this year - December 31st if need be but If it goes into next year then so be it.

Im 38 this year so I need to get a mortgage started soon!!

TB

Blimey mate..had you down for a bit younger than that :( Jeez this (HPI) is all really messed up :angry:

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Im 38 this year so I need to get a mortgage started soon!!

As long as prices aren't going up, since rents are cheap, just make a point of saving the difference between the cost of renting and buying. Think of it as starting to pay off your mortgage before you buy thse house.

A friend of mine who bought a house with a 100% mortgage in December proudly announced to me that she now owned £700 of her house after her first mortgage payment. Of course, in reality, the way the interest is weighted towards the start of a mortgage means that she actually owns about £70 of her house. Funny how people forget about the interest payments. I think I prefer my method of renting and saving £500 a month in the building society.

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I am 38 also and am prepared to wait up to the age of 42, if there is no crash by then I think I will have to bite the bullet and buy. By the age of 42 I hope to have enough money to buy something more or less outright (that's if HPI has not reared its ugly head again!).

Whatever way I look at it living in council accommodation is both embarrassing and depressing. I can't live this way forever and need to get a place of my own eventually. I would like to say "I'll wait until it crashes, " and if I was younger I definitely would, but age puts a very different slant on things...Those in their 30's and above will know what I am talking about.

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I'm 26 and happy to wait for as long as it takes. If it never sensibly corrects (God knows how but wonders never cease) then in 4 maybe 5 years I will bite the bullet.

My girlfriend (of nearly 3 years) is currently in talks with her dad to guarantee a mortgage so she can try and get somewhere (we both rent our own places). She knows my position and knows I will not budge. She spouts the old crap about house not an investment etc. I agree and say neither is my car but it doesn't mean I want to buy it for 200-300% more than it's worth.

Edited by Anti_Claus

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I hope the crash isn't too fast as I would feel under pressure to buy before it goes up again.

I'm only 42 and I havn't decided exactly what I want to do in life (:))so i'd like it to take at least another 5 years to bottom out. I cant even decide if I'd ever want to buy in the UK though.

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Summer 2007.

By then I would have been HPC watching for 3 years. If we are not hurtling downwards toward historic averages by then the HPC soothsayers will have to concede defeat IMO and surrender to the Pinging Sigs.

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Summer 2007.

By then I would have been HPC watching for 3 years. If we are not hurtling downwards toward historic averages by then the HPC soothsayers will have to concede defeat IMO and surrender to the Pinging Sigs.

Sorry, but thats just not true. If you believe in something, stick to it. With your attitude you will lose on the ups and the downs.

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But the very question 'how long can you wait?' presupposes A CHOICE - and that's something that most would-once-have-been FTBs simply don't have. STRs aside, the overwhelming majority of people aren't not buying because they won't, they're not buying because they can't. Let's deal with the reality here.

Edited by North London Rent Girl

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As long as it takes. In fact 'wait' isn't even the right word - I'm perfectly happy renting.

Perhaps I could turn it the other way around: if house prices drop and bottom out I'll buy, and then I'll be *waiting* until they peak before I can STR and get back off the housing ladder again. :)

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Sorry, but thats just not true.

Sorry, but it is.

With your attitude you will lose on the ups and the downs.

You don't know my circumstances so how can you possibly know whether I will 'lose' (whatever that might mean).

Your ignorance is breathtaking.

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I hope the crash isn't too fast as I would feel under pressure to buy before it goes up again.

I'm only 42 and I havn't decided exactly what I want to do in life (:))so i'd like it to take at least another 5 years to bottom out. I cant even decide if I'd ever want to buy in the UK though.

I like this thread - I don't feel so much like the oldest FTB in town any more.

aj (34 1/2) :(

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Sorry, but it is.

You don't know my circumstances so how can you possibly know whether I will 'lose' (whatever that might mean).

Your ignorance is breathtaking.

It is your ignorance that is breathtaking. You cant even understand a simple concept. You appear to have been holding off from buying up until now because you though there would be a HPC. Then because it doesn't happen in your timescale you say there will be no HPC so you will buy. Therefore you lose out by not buying during HPI and then you lose out again when prices actually correct because you buy at the top. I dont need to know your circumstances.

Good luck though.

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I hope the crash isn't too fast as I would feel under pressure to buy before it goes up again.

I'm only 42 and I havn't decided exactly what I want to do in life (:))so i'd like it to take at least another 5 years to bottom out. I cant even decide if I'd ever want to buy in the UK though.

i'm with sine on this one. still haven't decided exactly what to do/where i'm gonna be when i grow up.

when the news gets uber-bearish, i start to panic! :lol:

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Currently living with my partner in his parents house and we're looking to buy in the Spring of 2007, but only if it suits us, if prices haven't dropped we'll probably look to rent at this point. I look at it this way one way or the other we'll have own space again and either money in the bank, or money tied up in our own home. :)

I did get to a point where all of this house business was starting to affect my life. i wouldn't say it was causing depression, but I was spending far too much time thinking about how ufair it is that house prices have increased so much and also being scared of when is the right time to buy.

We've given ourselves a date to aim to and then we'll decide what we're going to do, but I'm now getting on with my life and not getting hung up on house prices ;)

Edited by Patiently Waiting

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probably buy sometime this year or next.

Too soon in the HPC scheme of things probably, but I plan to "engineer" my own crash with some very low-ball offers until I get a bite :rolleyes:

Edited by sign_of_the_times

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  • 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% +
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      • Even
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