I think I’d wait and see how the job market pans out. I guess it depends what your job security is like but I’m not sure I’d be rushing out to buy property just now. I’m not that keen on risk though.  |
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By (user no longer on site)
over a year ago
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"Thinking of moving and buying our own property, seen some great houses and agents are mixed re the property market, would you wait to see how the market pans out or strike now?"
I've bought 47 houses and 3 hotels so far during lockdown.
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"Thinking of moving and buying our own property, seen some great houses and agents are mixed re the property market, would you wait to see how the market pans out or strike now?
I've bought 47 houses and 3 hotels so far during lockdown.
"
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I'd prefer to buy when there's no tragedy and possibly hardship involved. If it was important to buy, I'd be doing it as a longer term investment and I'd go ahead.
If seller and buyer are both selling simultaneously, any national trend may be in unison. As interest rates are about the lowest possible, it's reasonable to pay extra off, reducing the long term cost. |
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"Thinking of moving and buying our own property, seen some great houses and agents are mixed re the property market, would you wait to see how the market pans out or strike now?
I've bought 47 houses and 3 hotels so far during lockdown.
"
You've been playing a lot of monopoly  |
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Regardless of Covid this question is such unanswerable question “ is it right time to buy a house “. Just look at the housing boom in London over the last 30 years then compare capital gain to someone who bought a house In some places in the north east. The question is to vague and it’s the in-depth details that give answers.
Personally I don’t buy property to live in , if that’s what you plan to do And live in that city/town Atless for near future. Then there ain’t really a bad time to buy property. unless the market you getting into is like Dubai ongoing bear market. What doubt Uk “outside of London “ is expecting anytime soon
But if you buying property to make money. Then you need a plan , is it income or capital growth you looking for? Answer that question leads to bunch more questions. Investing in property ain’t hard , but requires a plan and then research in that plan.
There plenty of good opportunities out there I believe for capital growth and/or income. But there one tatic to use for all property buying and that is buy at a discount , if you find a seller willing to sell at 15% of the market value. then I think It will cover you for any expected downturn from Covid. Befor anyone who don’t have a clue say anything. Yes there is people willing to sell at discount for many reasons sometimes greater than 15% |
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By (user no longer on site)
over a year ago
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"yea but bear in mind banks are asking for larger percentage loan to value on lending and are not honouring offers made pre covid. "
They honoured the offer they made me before covid and I had the keys last week.
The right time to buy for me was when I saw what I wanted where I wanted it to be.
I don't know if its a good thing or a bad thing to buy right now, but I wanted to get out of the dump that I live in and and I had to do it sooner or later. |
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