Wednesday, September 24, 2008
A year and a half too late sheeple
Published in Property Home on 24 September 2008 1 comments Should you cash in on the property slump by selling your home?
Over a few beers at the weekend one of my friends announced that she and her husband had put their house on the market. ‘Oh, have you found somewhere you want to buy?’ I said. ‘Well, we’re not looking at the moment,’ she replied, ‘we’re going to rent for a bit and see what happens.’ The plan, it seems, is to wait for property prices to fall, then either buy a similar-sized property for less money and or buy a bigger place for the same amount they sell their two-up two-down terrace for. Good luck to them, I say, but isn’t it a risky strategy? It’s certainly not an uncommon one at the moment. But like all cunning plans, it has a list of pros and cons.