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Buying a flat now
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 Rudi Hedman  Caterham 20 May 20 2.31pm |
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Originally posted by Rubin
I think you have done the right thing, and I'm relieved for you to see the decision you have made after reading your original post back when you started the thread. As a first time buyer, there's no doubt you will get a better deal by waiting. Even if the worst happens regarding you ending up losing your job etc., meaning that you are left unable to get a mortgage, that is a better position to be in than having a mortgage and no job. I'd imagine the estate agent said what he said in order to get you to panic and reverse your decision. Yes the estate agent isn’t going to admit the real situation in his office to a potential buyer. I’d keep refreshing their website to see if it or other similar properties are for sale at lower prices.
COYP |
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| Tom-the-eagle Croydon 20 May 20 3.07pm |
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Originally posted by leejaneagles
So it’s done. Pulled out today and within a second the Estate Agent said doesn’t matter they have another offer and that was that. Expected a much longer conversation so that shocked me but just shows they were continuing on despite us agreed anyway. Firstly I’d like to thank everyone that has taken the time to give advice on here. It all really helped. You can’t get non-bias advice from friends and family, no matter how well meaning they are so I’m glad I had the brainwave of asking my Palace family! However, not being footie related I expected 1 or 2 replies max so thank you all very much for the pages of help. Moving onwards. I figured I’ll wait and see what happens with Covid, my job and the market and all things being well, was thinking of looking again in December. I know there won’t be a vaccine by then but does that sound about right for the market falling? It’s around 6 months. I don’t know how quickly these things happen. Could it be they drop in the next week or should I be waiting 12 months+ to see a difference?
Wait a bit, I guarantee this will all work out in your favour. Us Palace fans need to stick together brother
"It feels much better than it ever did, much more sensitive." John Wayne Bobbit |
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PalazioVecchio  south pole 20 May 20 7.36pm |
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If your heart is yearning to own property, I would do this.... ....wait 24 months from now and then bid generous when u find the right flat. If the seller shows any reluctance to do the paperwork quickly , pull out of the deal.
Kayla did Anfield & Old Trafford |
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| OneMax Maidstone 27 May 20 7.43pm |
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Best advice I ever got was if you are buying a home buy live in not to invest in.
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| Tom-the-eagle Croydon 27 May 20 8.37pm |
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Originally posted by OneMax
Best advice I ever got was if you are buying a home buy live in not to invest in. And that’s the best advice you have ever received?
"It feels much better than it ever did, much more sensitive." John Wayne Bobbit |
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cryrst  The garden of England 27 May 20 8.48pm |
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Originally posted by Tom-the-eagle
And that’s the best advice you have ever received? You scallywag.
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| Tim Gypsy Hill '64 Stoke sub normal 11 Mar 21 2.06am |
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It seems you took the wrong advice. Oh well, missed opportunity. I hope you still have your deposit (maybe added to it), and at least mum still irons your socks. But you never know, this quarter may see a dramatic drop?????
Systematically dragged down by the lawmakers |
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| Goal Machine The Cronx 11 Mar 21 7.50am |
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Originally posted by OneMax
Best advice I ever got was if you are buying a home buy live in not to invest in. I would agree with this. Historically you can get far better long term returns in the stock market. Unless... you have the motivation to buy a run down property, develop it and sell at a big profit.
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| silvertop Portishead 12 Mar 21 10.33am |
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A colleague of mine told me the market would not drop (when I thought it would) and he was correct. Bristol market went bonkers. We are now buying a gaff and genuinely think it has gained £30k from our handshake a couple of months ago. Hardly anything available to buy save the odd White Elephant. Hindsight time. Had you bought a year ago, you may already be a year's salary richer. Err, you didn't want someone to tell you that, did you?
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| Badger11 Beckenham 12 Mar 21 10.39am |
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Originally posted by OneMax
Best advice I ever got was if you are buying a home buy live in not to invest in. Back in the 1980's people were buying homes in Docklands with money they didn't have because they were going to flip the place in 6 months and make an enormous profit. Well most didn't and many had to sell at a loss or give the keys back to the lender. So yes your home should not be seen as an investment, if you do make money out of it fantastic but you should not risk your home.
One more point |
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 SW19 CPFC Addiscombe West 12 Mar 21 10.43am |
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Originally posted by silvertop
A colleague of mine told me the market would not drop (when I thought it would) and he was correct. Bristol market went bonkers. We are now buying a gaff and genuinely think it has gained £30k from our handshake a couple of months ago. Hardly anything available to buy save the odd White Elephant. Hindsight time. Had you bought a year ago, you may already be a year's salary richer. Err, you didn't want someone to tell you that, did you? Fair But as he's said, job security is a worry so it's not much use having a years salary locked away in equity when you have no earnings coming in
Did you know? 98.0000001% of people are morons. |
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| silvertop Portishead 12 Mar 21 10.51am |
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Originally posted by SW19 CPFC
Fair But as he's said, job security is a worry so it's not much use having a years salary locked away in equity when you have no earnings coming in Equally fair. Memo to self. Read whole thread.
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