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Piper
Newbie
Joined: 20 Jul 2006
Posts: 15
Cash Points ££ 331.42
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 Posted: Sat Sep 16, 2006 11:40 pm Post subject: First time buyer - should I or not ? |
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Hi all
I am a First time buyer and wondering whether I should wait or boy now ? What are other first time buyers thinking ?
As far as i can see there are 3 options for us first time buyers
1. Wait for the crash to come and then buy
2. Wait a few months, till say December and then see if a further interest rate has caused it to crash or not
3. Just find and buy a property now, regardless of what the housign market or interest rates do
I'm leaning towards waiting to see what the next rise in interest rates does.
So where do other first time buyers stand ? |
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housebuyer
Money Saver
Joined: 02 May 2005
Posts: 81
Cash Points ££ 2815.22
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| Posted: Sat Sep 16, 2006 11:55 pm Post subject: |
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I'm waiting to buy too, been waiting too long !!! over 2 years
Yeh at times Ive come close to buying but once I did some study into the housign market, i can see clearly how overvalued they are !
Believe me they are heading for a big fall, there is no way 193k is sustaimable when average salaries are about £30k ! |
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twofnine
Stranger
Joined: 18 Sep 2006
Posts: 11
Location: Hampshire
Cash Points ££ 317.94
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| Posted: Mon Sep 18, 2006 8:54 pm Post subject: |
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| housebuyer wrote: | I'm waiting to buy too, been waiting too long !!! over 2 years
Yeh at times Ive come close to buying but once I did some study into the housign market, i can see clearly how overvalued they are !
Believe me they are heading for a big fall, there is no way 193k is sustaimable when average salaries are about £30k ! |
Yes I totally agree with you, thats the advice Ive been giving to my Son. IMF havent ruled out a "Housing Correction" either, but are we wrong. Im thinking also people with mortgages are falling behind with there repayments. Another 0.25% rate increas surely will just about kill it off IMHO! |
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Duckie
Newbie
Joined: 16 Mar 2005
Posts: 23
Cash Points ££ 443.06
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| Posted: Mon Oct 02, 2006 7:24 pm Post subject: |
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| People buying at these prices WILL regret it ! |
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Phillipa
Veteran Investor
Joined: 05 Feb 2005
Posts: 419
Cash Points ££ 3383.78
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| Posted: Sat Oct 07, 2006 3:09 am Post subject: |
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Interest rates are low, historically low, but watching the commodities bull market, its only a matter of time before price inflation grips the world economies which means much, much higher interest rates.
For most peopel with mortgages it is very difficult to imagine interest rates of 6% plus, but it could happen ! |
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housebuyer
Money Saver
Joined: 02 May 2005
Posts: 81
Cash Points ££ 2815.22
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| Posted: Mon Oct 30, 2006 8:10 am Post subject: |
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To tell u the truth, ive given up on buying , what s the point, these prices are crazy ! Bonkers !
and idiots still pile into them ?????
Are they MAD !!! How the hell can they afford a house at £200k as a first time buyer ???? |
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