The Judder Posted September 5, 2013 Author Share Posted September 5, 2013 Well, after 7 years of waiting and lurking on this very informative website, I have put in an offer of £175K which has been accepted. Early days yet but hopefully I have made the right decision. Only time will tell if the the timing was right..... Cheers I still lurk on this website on a regular basis. Anyway 18 months on since I took the plunge to buy a house, things seem ok. Interest rates continue to stay at a record low, nominal house prices appear to have levelled off and who knows what the future holds. I hope I made the right decision by not overstretching myself on my first home, although it appears that the establishment will literally do anything to keep prices stable and thus it begs the question... should I have bought bigger in 2011?? Ta da for now. Quote Link to comment Share on other sites More sharing options...
winkie Posted September 5, 2013 Share Posted September 5, 2013 http://www.youtube.com/watch?v=coPB3GLpx98 Quote Link to comment Share on other sites More sharing options...
The Judder Posted September 5, 2013 Author Share Posted September 5, 2013 http://www.youtube.com/watch?v=coPB3GLpx98 Good shout. I see we joined in the early days! So much informative stuff on here, some a bit dodgy mind.... Quote Link to comment Share on other sites More sharing options...
dryrot Posted September 5, 2013 Share Posted September 5, 2013 Good shout. I see we joined in the early days! So much informative stuff on here, some a bit dodgy mind.... My only advice - relevant to you possibly? - is "Don't worry about making the last 5%" Only the truly expert and lucky hit the bullseye. But being in the top 25% is fine, and you seem to have caught that bracket (if that makes sense). Only wish I took my own advice... Quote Link to comment Share on other sites More sharing options...
65243 Posted September 5, 2013 Share Posted September 5, 2013 Hi the Judder, interesting thread. It would be even more interesting to have a guess at what you saved by not buying in the heady days of 2007, when the thread started, and you first took the decision to sit it out. Did any similar houses on your street change hands back then? Quote Link to comment Share on other sites More sharing options...
The Judder Posted September 6, 2013 Author Share Posted September 6, 2013 Hi the Judder, interesting thread. It would be even more interesting to have a guess at what you saved by not buying in the heady days of 2007, when the thread started, and you first took the decision to sit it out. Did any similar houses on your street change hands back then? No worries, house were exchanging in my street in 2006 and early 2007 for around £189 - £240K, the £240 K one must have been in very good nick or the buyer was really desperate!!! The house I purchased sold for £189K in Oct 2006. I paid £174.5K in 2012, so over a £15K nominal house price drop. With the benefit of hindsight, I could have stretched myself further but I am not a risk taker. I waited out for roughly 8 years or so, I personally think we have reached another trough/levelling out period, but what do I know???? Cheers Quote Link to comment Share on other sites More sharing options...
The Judder Posted September 6, 2013 Author Share Posted September 6, 2013 My only advice - relevant to you possibly? - is "Don't worry about making the last 5%" Only the truly expert and lucky hit the bullseye. But being in the top 25% is fine, and you seem to have caught that bracket (if that makes sense). Only wish I took my own advice... Thanks. I really wanted the property at £172.5K, but when you have family and it was in the nice location you have to make a compromise. It's a bit scary to see the Halifax 3 month annualised rate at 5.4% this morning. I don't want the price to rise as the bigger properties will become far too expensive for me to jump to the 2nd rung. The capitalist society that we live in I suppose...... Quote Link to comment Share on other sites More sharing options...
The Judder Posted October 24, 2016 Author Share Posted October 24, 2016 On 06/09/2013 at 11:34 AM, The Judder said: Thanks. I really wanted the property at £172.5K, but when you have family and it was in the nice location you have to make a compromise. It's a bit scary to see the Halifax 3 month annualised rate at 5.4% this morning. I don't want the price to rise as the bigger properties will become far too expensive for me to jump to the 2nd rung. The capitalist society that we live in I suppose...... Hello there. I still lurk on this forum now and again and here are my thoughts 3 years on since my last post. I bought my house and exchanged contracts in Mar 2012 (the recent bottom as it turns out to be) after waiting over 8 years for prices to drop. The same type of house are easily selling in my street for between £220-£230K now, so that is a roughly £50K more in just 4 years. With the benefit of hindsight I think I have should have gone for a bigger house and overpaid the mortgage with these ultra low interest rates. However...... I still want a price re-adjustment so I can buy up the next rung but... will it happen??? who knows? Discuss. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted October 24, 2016 Share Posted October 24, 2016 1 hour ago, The Judder said: The same type of house are easily selling in my street for between £220-£230K now, so that is a roughly £50K more in just 4 years. It's not profit until you sell. And the market doesn't appear as liquid as you suggest. Quote Link to comment Share on other sites More sharing options...
The Judder Posted October 25, 2016 Author Share Posted October 25, 2016 22 hours ago, darkmarket said: It's not profit until you sell. And the market doesn't appear as liquid as you suggest. Understood, fair point, but my point is that the next step up is becoming out of reach. Don't get me wrong, I want a correction and was one of the early browsers of this great website. Quote Link to comment Share on other sites More sharing options...
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