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robster

Continuing To Rent

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Hi

I just wanted to thank those who replied to my posts in the week about buying a house. My husband had started to panic about getting into property as he has just turned 40 and we have just had our second child (December). However, I was really having cold feet as we are almost certainly at the top of the market here in Salisbury and the house we had put in an offer for wanted full asking price.

We are renting a lovely house in a good area and have a good size deposit which will have increased in 12 months time when we will review the situation again.

This site and your posts have restored my common sense and sanity!!!!

Cheers

Robster :D

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Hi

I just wanted to thank those who replied to my posts in the week about buying a house. My husband had started to panic about getting into property as he has just turned 40 and we have just had our second child (December). However, I was really having cold feet as we are almost certainly at the top of the market here in Salisbury and the house we had put in an offer for wanted full asking price.

We are renting a lovely house in a good area and have a good size deposit which will have increased in 12 months time when we will review the situation again.

This site and your posts have restored my common sense and sanity!!!!

Cheers

Robster :D

I'm glad to hear that you've happily renting a nice house, but the fact that the vendors of the house in Salisbury wanted full asking price could be indicative of another rally in your area. Are you sure the market has reached a peak? If there is another bull run, will your desposit keep up with HPI?

Until recently posters on this site were saying that summer 2004 was the market top. That claim now appears absurd.

Edited by Europa

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Hi

I just wanted to thank those who replied to my posts in the week about buying a house. My husband had started to panic about getting into property as he has just turned 40 and we have just had our second child (December). However, I was really having cold feet as we are almost certainly at the top of the market here in Salisbury and the house we had put in an offer for wanted full asking price.

We are renting a lovely house in a good area and have a good size deposit which will have increased in 12 months time when we will review the situation again.

This site and your posts have restored my common sense and sanity!!!!

Cheers

Robster :D

Robster, remember, with every thousand pounds saved, is approx 1700 less mortgage (including interest) over 25 years!!!!

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Hi

Thanks. Her reluctance to move below her asking price is more to do with the fact that she needs every penny of the 80k equity she has accumulated in her overpriced house to purchase her next overpriced house.

I have been watching the market here for over 18 months and have done my homework. Prices have remained stagnant, if not slipped here over the last 12 months and many properties remain on the market for many months before selling (and that's from the mouths of EAs). Good properties, in good areas still go but generally for 5-10% below asking.

There is a risk involved in everything. I would rather try and increase my deposit and see what happens over the summer than panic buy and support the overinflated desires of greedy sellers. If we lose, we lose but I don't think we will

R

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Robster, remember, with every thousand pounds saved, is approx 1700 less mortgage (including interest) over 25 years!!!!

I like that: simple, clear and to the point.. I'm going to use that in discussions with my otherwise intelligent colleagues who believe in the "desperate need to get on the housing ladder now before it's too late".

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Guest prudence

I'm glad to hear that you've happily renting a nice house, but the fact that the vendors of the house in Salisbury wanted full asking price could be indicative of another rally in your area. Are you sure the market has reached a peak? If there is another bull run, will your desposit keep up with HPI?

Until recently posters on this site were saying that summer 2004 was the market top. That claim now appears absurd.

the higher the pyramid goes, the bigger the eventual crash................

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Hi

I just wanted to thank those who replied to my posts in the week about buying a house. My husband had started to panic about getting into property as he has just turned 40 and we have just had our second child (December). However, I was really having cold feet as we are almost certainly at the top of the market here in Salisbury and the house we had put in an offer for wanted full asking price.

We are renting a lovely house in a good area and have a good size deposit which will have increased in 12 months time when we will review the situation again.

This site and your posts have restored my common sense and sanity!!!!

Cheers

Robster :D

Welcome to the site and keep us posted with what happens.

frugalista

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Welcome to the site and keep us posted with what happens.

frugalista

Especially when your landlord serves you notice!

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mmmm.... am I stoopid or what....can't have thought of that!!

We work on fixed term leases here lovie....I am a lawyer, so don't worry your little bonnet :D

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Hi

Thanks. Her reluctance to move below her asking price is more to do with the fact that she needs every penny of the 80k equity she has accumulated in her overpriced house to purchase her next overpriced house.

I have been watching the market here for over 18 months and have done my homework. Prices have remained stagnant, if not slipped here over the last 12 months and many properties remain on the market for many months before selling (and that's from the mouths of EAs). Good properties, in good areas still go but generally for 5-10% below asking.

There is a risk involved in everything. I would rather try and increase my deposit and see what happens over the summer than panic buy and support the overinflated desires of greedy sellers. If we lose, we lose but I don't think we will

R

Well done. Don't listen to the siren voices enticing you into a life of debt.

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Until recently posters on this site were saying that summer 2004 was the market top. That claim now appears absurd.

I think you'll find the peak was late summer '03. You're going by the media

spin and ********. I had the lucky escape of nearly buying in December '04

at an asking price of £425,000 and no offers. I'll repeat that, no offers.

Currently available at £349,995, offers invited. Happy days. Might make

them an offer late summer, if they're lucky. Lovely house, mind you. ;)

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Guest X-QUORK

Until recently posters on this site were saying that summer 2004 was the market top. That claim now appears absurd.

Maybe you should have a read through the Halifax house price figures for Q4 2005:

Halifax House Price Index Q4 2005

Check out where I live, here in Oxfordshire there was a 9% fall. :D

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mmmm.... am I stoopid or what....can't have thought of that!!

We work on fixed term leases here lovie....I am a lawyer, so don't worry your little bonnet :D

"mmmm.... am I stoopid or what"

I've honestly no idea whether you're stoopid or not!

"I am a lawyer, so don't worry your little bonnet "

Worrying about an unknown lawyer's housing problems isn't my bag at all ;)

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No, your helpful comment demonstrates no concern for anyone's position.

It is probably best that you avoid renting though if you are unaware of the legal framework to the extent that you feel a tenant is always unavoidably vulnerable to notice.

Perhaps the question should have been whose stupid?

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No, your helpful comment demonstrates no concern for anyone's position.

It is probably best that you avoid renting though if you are unaware of the legal framework to the extent that you feel a tenant is always unavoidably vulnerable to notice.

Perhaps the question should have been whose stupid?

"No, your helpful comment demonstrates no concern for anyone's position. "

Actually I am quite concerned about the housing market especially for my children and grandchildren and also for those on here who genuinely can't afford to buy. I am not concerned for myself, as my home is mortgage free nor, I have to add, neither am I concerned for a lawyer who, presumably, can afford to buy but gambles not to.

Edited by 737

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Good for you Robster

Also can I suggest that If you are happy, then you are def doing something right.

It would be immoral of you to delve in the market based on the fear factor

Propping up the market and agreeing with absurb asking prices will fuel the current lunacy

I have plenty of money for a deposit but im holding out for the fact that I simply dont earn enough. Two things have to happen either I get a large rise..not possible given the decline in the manufacturing industry or a sharp decline in house prices...I let you guess which is far more realistic :)

oh and interest rates on NOT in decline worldwide

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who believe in the "desperate need to get on the housing ladder now before it's too late".

From the V.I. hypnotized Sheeple,

That's such a Non-comment.

Since when in time has "buying a house" been too late? Buy now or you never will? Miss the boat, etc

If that REALLY is the case, then the house market will collapse, resulting in Lending institution closures v& mass EA redundancies....

:ph34r:

Especially when your landlord serves you notice!

And the Landlord no longer receives an income to "part service" those humongous debts....

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No, your helpful comment demonstrates no concern for anyone's position.

It is probably best that you avoid renting though if you are unaware of the legal framework to the extent that you feel a tenant is always unavoidably vulnerable to notice.

Perhaps the question should have been whose stupid?

bulls - you've got your work cut out to shake this one up

good for you sis! :D

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Hi

Thanks. Her reluctance to move below her asking price is more to do with the fact that she needs every penny of the 80k equity she has accumulated in her overpriced house to purchase her next overpriced house.

I have been watching the market here for over 18 months and have done my homework. Prices have remained stagnant, if not slipped here over the last 12 months and many properties remain on the market for many months before selling (and that's from the mouths of EAs). Good properties, in good areas still go but generally for 5-10% below asking.

There is a risk involved in everything. I would rather try and increase my deposit and see what happens over the summer than panic buy and support the overinflated desires of greedy sellers. If we lose, we lose but I don't think we will

R

Robster - you quote an interesting situation and make a measured judgement (which might be wrong) but on balance I think is the sensible conclusion for your circumstances.

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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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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