House buying advice...

Originally Posted by Baph

What, no discounts for fellow org members? :P

Some people want jam on it, too

Originally Posted by Ed

Some people want jam on it, too

HEY! hes trying to fix his triumph ya know

[Kylie]

We just bought a house. After offering below the asking price for a variety of houses and losing out we offered the asking price on a place and then negotiated down after getting a survey done. If there's nothin awry with the place you can't do that but if there is some iffy bits to it then it can be better to get the place under offer then re-negotiate afterwards. Of course you might lose the cost of the survey if they still don't budge but it worked ok for us...

[tigersaw]

I've been ringing agents in Southampton last few days.
My instructions have been simple - send details of properties that are detached, double garaged, immaculate condition, and the vendors will be out by mid Feb, no iffs no buts. Also indicate the minimum price they will accept for a cash buyer, as I wont be haggling. (Although I probably will, all the same)
Amazing how many suddenly have a 'guide price' below the asking price.

[timwilky]

I am one of those who subscribe to the belief that the housing market has to crash. Spiraling price depend on new buyers climbing onto the bottom of the ladder and I honest cannot see how first time buyers can afford to jump on board.

Those who have bought houses as investments etc, you deserve to be burnt and I have no sympathy for complaints of negative equity. A house is a home, somewhere to live and raise your family etc. Not a means of making a quick buck at others expense.

If you can afford to "invest" you should be prepared for the occasional loss. I get grief from my brother about where I live but what the hell it is mine and nobody can take it off me. unlike him mortgaged to the hilt and will still be paying it off when he gets his state pension.

I bought what I could afford and 1980's mortgage rates hurt and I was glad I only took a mortgage of twice my salary. I struggled to pay rates of around 11/12% and wonder what people would do now with their 200k mortgages should the rate double over the next year?

I would wait too. You can verify the purchase story here: http://www.nethouseprices.com/index.php?con=sold_prices

I can recommend these guys for conveyancing as well: http://www.movingahead.co.uk/Default.asp - we went back to them as their service was outstanding.

Well thank you gmonsta. Depends if you want a call centre with unqualified staff dealing, who really know very little about land, or whether you want to instruct a solicitor with 20 years experience who deals with your case personally, at an affordable price.

I'd try these guys, I've heard excellent reports . I believe that one of them even rides a motorbike and posts on a well known bike forum :

www.edwardaustin.co.uk

Phew, always exciting buying a house. Especially the first one. If it were me now (with the benefit of hindsight, etc.), I'd take my time over the whole thing. It's not as if you *have* to find a house immediately (I assume) and get it all sorted PDQ to complete a chain. Until the point you have to start shelling out expenses and commit, play it loose. Retract your later offer and offer 'em £300K again, or even lower. So they'll refuse again. Carry on looking at other places. Once a week or so, ring the agent and restate the offer. If the agent won't play ball, ring the vendor direct. If they're not getting other offers, they may come round to your way of thinking. Remember, it's not paper money you're going to be spending, though it does feel like it at times.

[Kylie]

I am one of those who subscribe to the belief that the housing market has to crash

Well yeah, there's always a risk of that, and the argument that paying money to a landlord is wasted money isn't always true, when you take stamp duty, solicitors fees (Apologies Ed), mortgage interest and all that stuff in to account.
But if you find a place you really like, where you are not overstretched and you reckon you are going to be there for a good few years then buying makes sense, crash or no crash. I bought a house in Ireland in a rising market but the market was still strong when I sold 6 years later, I was lucky. Now I've moved back to the UK its meant I can afford to buy an ok place. The market may crash but in the long run property is one of the safest investments you can make. Plus life is short so having a place where you can do what you want to it is important. Be cautious aye, but don't believe all of what the doom sayers say (like this crowd http://www.housepricecrash.co.uk/), you don't want to be paying rent when you retire.

Originally Posted by timwilky

I am one of those who subscribe to the belief that the housing market has to crash. Spiraling price depend on new buyers climbing onto the bottom of the ladder and I honest cannot see how first time buyers can afford to jump on board.

Those who have bought houses as investments etc, you deserve to be burnt and I have no sympathy for complaints of negative equity. A house is a home, somewhere to live and raise your family etc. Not a means of making a quick buck at others expense.

If you can afford to "invest" you should be prepared for the occasional loss. I get grief from my brother about where I live but what the hell it is mine and nobody can take it off me. unlike him mortgaged to the hilt and will still be paying it off when he gets his state pension.

I bought what I could afford and 1980's mortgage rates hurt and I was glad I only took a mortgage of twice my salary. I struggled to pay rates of around 11/12% and wonder what people would do now with their 200k mortgages should the rate double over the next year?

i am in the same thinking timwilky all my friends have got huge mortgages until they die and i'm in a ex coucil house with only 6k left on my life loan at 34 years of age. its my house its paid for in 12 months and no one can take this family home away from me or my family. its taken me 14 years to pay off a 45k mortgage so i dont think i'll be moving again.