UK Landlord Forum / Life

This could be the time to take the plunge – if you do your research and drive a hard bargain

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Rebecca Page is aching to buy her first home. Her parents, Lynda and David, are happy to give her a 10% deposit, but think she should sit tight and watch the housing market. "My mum has seen what is happening in America, where there has been a huge property crash, and thinks the same thing is going to happen here," says Page, 25, a staff nurse in Notting-ham. "She wants me to hold off until after Christmas, in the belief prices are going to fall."

Like many of her peers far too young to remember the previous big property crash, in the early 1990s, Page cannot imagine prices falling, and fears she will miss out if she waits too long. "All the friends I graduated with have managed to make money by owning their own home. Paying rent is a waste of money."

Source: http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article2923705.ece

What do you guys think about that, "Page cannot imagine prices falling, and fears she will miss out if she waits too long"

Do you think people are running that risk by holding out? I mean, some people have been waiting for years for a HPC, hence why they haven't purchased a property. Do you think the opportunity for a bargain is slowly creeping away, or do you think everything will eventually fall back into line, allowing the opportunities to be wider?

Odv her parents want to pay the least possible , which is fair enough , and are hoping for a crash .. but really they should be looking at saving by other means , like buying somewhere that needs modernising.

Page odviously wants to just buy a house now that she can kind of afford one , and will make money no matter what if she gets a bargain.

I think if its just a house for living in and not about making a profit , then you could end up being frustrated that you have waited and theres been no crash , or she could end up kidding herself her 'bargain' of a house is down to waiting like her parents said .

Ok Im rabbiting now .

Yeah, I agree.

I think it depends on what the purpose of the property is. If it's purely for living, and not for investment reasons, I wouldn't wait for a crash forever, because that could be increasingly frustrating.