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hanorah

I Have Just Bought

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If it does not fall through. I am not an idiot and I still think prices will go down which is why I have not bought for the last 10 years. Why have I bought now well there are a number of reasons firstly because I have got a bargain a 4 bed with a 130ft garden for £180,000 in a nice area and I intend to live there with my husband and kids for the foreesable future. We offered well below the asking price and it was accepted. We have also been privately renting at a good price for 10 years and need to move out by Aug so my hand was forced or I would have held out a little longer. However I can afford the mortgage which is less than what I would be paying for private rent for an equivalent house in the area we are living in now. I am moving out of London though but we can still commute. The house in question needs very slight renovation in terms of decor but is fine to live in as it is and the one next door went for £220k recently and that is only a 3 bed (ours has had a loft conversion) so we know we are getting a good price in todays market at least. The sellers wanted chain free or cash buyers only which put us in a good position. We have also invested in Turkey over last 5 years and have made some money there so although you may think me mad I need stability for my children and I want this to be the last move until they are grown up. The location is stunning a rural village in a very desirable area so the quality of life will be good. I will probably kick myself later in the year or next but we are not buying a coal hole but a decent family home. We have land and a villa in Turkey and we can sell the land if necessary to cushion any down turns here. When I found the house my gut instinct was to offer on it as it is the kind of place we have always dreamed of living and when we went to see it it was the location that sold it to us. The shock was when they accepted our offer as we had decided that was all we could afford and would not have increased on it. So although I am a bear at heart I have been more than a bit bullish on this occasion. Whether this is a massive mistake only time will tell

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Guest DissipatedYouthIsValuable
If it does not fall through. I am not an idiot and I still think prices will go down which is why I have not bought for the last 10 years. Why have I bought now well there are a number of reasons firstly because I have got a bargain a 4 bed with a 130ft garden for £180,000 in a nice area and I intend to live there with my husband and kids for the foreesable future. We offered well below the asking price and it was accepted. We have also been privately renting at a good price for 10 years and need to move out by Aug so my hand was forced or I would have held out a little longer. However I can afford the mortgage which is less than what I would be paying for private rent for an equivalent house in the area we are living in now. I am moving out of London though but we can still commute. The house in question needs very slight renovation in terms of decor but is fine to live in as it is and the one next door went for £220k recently and that is only a 3 bed (ours has had a loft conversion) so we know we are getting a good price in todays market at least. The sellers wanted chain free or cash buyers only which put us in a good position. We have also invested in Turkey over last 5 years and have made some money there so although you may think me mad I need stability for my children and I want this to be the last move until they are grown up. The location is stunning a rural village in a very desirable area so the quality of life will be good. I will probably kick myself later in the year or next but we are not buying a coal hole but a decent family home. We have land and a villa in Turkey and we can sell the land if necessary to cushion any down turns here. When I found the house my gut instinct was to offer on it as it is the kind of place we have always dreamed of living and when we went to see it it was the location that sold it to us. The shock was when they accepted our offer as we had decided that was all we could afford and would not have increased on it. So although I am a bear at heart I have been more than a bit bullish on this occasion. Whether this is a massive mistake only time will tell

If it's affordable and you like it, great. I also note that the New Turkish Lira carry trade may have done very well for some people.

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If you can afford the mortgage and it is less than you are paying rent, and you get a 20%+ discount on the property then most wont believe you are stupid.

It is the people who lie to get a property who cant afford the house they are buying and hoping to stay afloat by HPI that are probably being stupid. Its the ones who think that if they get into trouble, there house will be worth more anyway, so they can just sell a bank some cash.

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Good luck to you and your family hanorah - I'm amazed you have waited ten years for prices to fall.

Have you really been hoping for a crash since 1997???

I thought I was bad thinking it was going to tank in 2001 :huh:

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I have got a bargain a 4 bed with a 130ft garden for £180,000 in a nice area

That's better than the deal that I'm hoping for after the crash. Well done. You've just saved yourself five years, IMO.

Good luck.

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Just a thought....

If you have just bought a house and are happy with your decision, why have you joined a site called housepricecrash.co.uk and posted looking for reassurance.

It sounds as if you can afford your house and that you will want to live there for a long time so it should all work out well for you. However if there is a drop in house prices (fingers crossed) you are still going to be annoyed that you could have saved a few grand.

In the end money isnt everything, enjoy your house and be happy.

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If it does not fall through. I am not an idiot and I still think prices will go down which is why I have not bought for the last 10 years. Why have I bought now well there are a number of reasons firstly because I have got a bargain a 4 bed with a 130ft garden for £180,000 in a nice area and I intend to live there with my husband and kids for the foreesable future. We offered well below the asking price and it was accepted. We have also been privately renting at a good price for 10 years and need to move out by Aug so my hand was forced or I would have held out a little longer. However I can afford the mortgage which is less than what I would be paying for private rent for an equivalent house in the area we are living in now. I am moving out of London though but we can still commute. The house in question needs very slight renovation in terms of decor but is fine to live in as it is and the one next door went for £220k recently and that is only a 3 bed (ours has had a loft conversion) so we know we are getting a good price in todays market at least. The sellers wanted chain free or cash buyers only which put us in a good position. We have also invested in Turkey over last 5 years and have made some money there so although you may think me mad I need stability for my children and I want this to be the last move until they are grown up. The location is stunning a rural village in a very desirable area so the quality of life will be good. I will probably kick myself later in the year or next but we are not buying a coal hole but a decent family home. We have land and a villa in Turkey and we can sell the land if necessary to cushion any down turns here. When I found the house my gut instinct was to offer on it as it is the kind of place we have always dreamed of living and when we went to see it it was the location that sold it to us. The shock was when they accepted our offer as we had decided that was all we could afford and would not have increased on it. So although I am a bear at heart I have been more than a bit bullish on this occasion. Whether this is a massive mistake only time will tell

If you found a 4-bedroom house with a large garden, in a "stunning" rural area within commuting distance of London, for a mere £180,00 you are either very VERY lucky or having a hallucinative psychotic episode.

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If it does not fall through. I am not an idiot and I still think prices will go down which is why I have not bought for the last 10 years. Why have I bought now well there are a number of reasons firstly because I have got a bargain a 4 bed with a 130ft garden for £180,000 in a nice area and I intend to live there with my husband and kids for the foreesable future. We offered well below the asking price and it was accepted. We have also been privately renting at a good price for 10 years and need to move out by Aug so my hand was forced or I would have held out a little longer. However I can afford the mortgage which is less than what I would be paying for private rent for an equivalent house in the area we are living in now. I am moving out of London though but we can still commute. The house in question needs very slight renovation in terms of decor but is fine to live in as it is and the one next door went for £220k recently and that is only a 3 bed (ours has had a loft conversion) so we know we are getting a good price in todays market at least. The sellers wanted chain free or cash buyers only which put us in a good position. We have also invested in Turkey over last 5 years and have made some money there so although you may think me mad I need stability for my children and I want this to be the last move until they are grown up. The location is stunning a rural village in a very desirable area so the quality of life will be good. I will probably kick myself later in the year or next but we are not buying a coal hole but a decent family home. We have land and a villa in Turkey and we can sell the land if necessary to cushion any down turns here. When I found the house my gut instinct was to offer on it as it is the kind of place we have always dreamed of living and when we went to see it it was the location that sold it to us. The shock was when they accepted our offer as we had decided that was all we could afford and would not have increased on it. So although I am a bear at heart I have been more than a bit bullish on this occasion. Whether this is a massive mistake only time will tell

A-bleedin'-wooga

zzzzzzzzzz

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Good luck to you and your family hanorah - I'm amazed you have waited ten years for prices to fall.

Have you really been hoping for a crash since 1997???

Its not so much that I have been waiting for a crash rather I was not prepared to pay the price being asked for crappy properties. We missed the boat in 1997 as by 1999 prices had almost doubled in our area Beckenham and I was not prepared to pay £100k more than someone 2 years ago for the same property. I also had 2 children during this time so started working part time. I was gutted missing out on property but me and my husband could not afford those prices at that time so bought in Turkey. I bought a 2 bed villa by the sea for £17k and land with permission for 2 4 bed 3 bath villas in the same place for £13K. They are now worth £60k and £40k respectively. We do hope to hold onto the land but think if we sell now it might be the way to go. We took 2 loans out to finance these purchases which effectively meant we could not buy here for the duration. One has finished and one we will pay off early which means out outgoings even with the new mortgage will go down. We also rent the villa so get a rental income on this in the summer months. Even if house prices go down we will be living in a place we want to live for the long term. My gut instinct told me to go for this property although I think the prices will probably go down. The house has room to extend to the side as well and a neighbour has done this so in time we hope to improve it and in years to come trade down to a flat and retire to Turkey hopefully with a tidy sum in our pocket. Even if prices do drop we have got it at a good price and it is a 4 bed so we will not need to trade up.

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When it completes I will let you know where it is but don't want to be gazumped so will keep it under my hat for the moment. The commute is long probably too long for most an hour and half but I only work 2 days a week so is viable for me time to catch up on some good books.

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Just a thought....

If you have just bought a house and are happy with your decision, why have you joined a site called housepricecrash.co.uk and posted looking for reassurance.

It sounds as if you can afford your house and that you will want to live there for a long time so it should all work out well for you. However if there is a drop in house prices (fingers crossed) you are still going to be annoyed that you could have saved a few grand.

In the end money isnt everything, enjoy your house and be happy.

I second this post. Why are you here? Oh and good luck.

next door to orbital :lol:

:lol:

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When it completes I will let you know where it is but don't want to be gazumped so will keep it under my hat for the moment. The commute is long probably too long for most an hour and half but I only work 2 days a week so is viable for me time to catch up on some good books.

You could commute from half of europe to london in that time.

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If you have just bought a house and are happy with your decision, why have you joined a site called housepricecrash.co.uk and posted looking for reassurance.

I have always known that when I actually bit the bullet and bought then the house price crash would be sure to follow!!!! Of course I am nervous , and not sure if we have done the right thing and I would not have bought now unless losing the house we are living in August was beckoning. I think in all honesty I am trying to convince myself we have made the right decision.

Edited by hanorah

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I have always known that when I actually bit the bullet and bought then the house price crash would be sure to follow!!!!

Thanks for the heads-up.

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If you have just bought a house and are happy with your decision, why have you joined a site called housepricecrash.co.uk and posted looking for reassurance.

I have always known that when I actually bit the bullet and bought then the house price crash would be sure to follow!!!! Of course I am nervous , and not sure if we have done the right thing and I would not have bought now unless losing the house we are living in August was beckoning. I think in all honesty I am trying to convince myself we have made the right decision.

Fair enough. I admire your honesty.

Good luck.

:)

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'We missed the boat in 1997 as by 1999 prices had almost doubled in our area Beckenham and I was not prepared to pay £100k more than someone 2 years ago for the same property'

But now you're prepared to pay 4 or 5 x? I guess you have to take the plunge sometime.

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You could commute from half of europe to london in that time.

Include check in and checkout times etc that "commute" time doubles, and that's only airport to airport

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Having waited ten years you must have saved 150k like most of the other posters here who have held off or STR.

Are you using these savings from renting for 10years and paying cash for the property, or investing the savings and using a mortgage ?

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