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aaroncbcb | I have £225,000 cash in the bank.? |
do you think i should wait for a resession before i buy when the property values crash to buy a big house |
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budding author
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l think house prices will drop even more over the short term, if I was to gamble I would say up to another 5% over the next year, I think that would be a safe bet?
They are down now around 3% from last year.
Whether you question is hypoththetical or not, (and I certainly dont gamble) !
Then for sure 100% I just know house prices will rise again , lets say over the next 5 years, to well above the current value and well above the previous highest value, what is going to stop it? No one is going to build at these prices, so no glut of new houses, more demand than supply.
Opinions ? Here is mine buy now, haggle a bit for sure , get the best price you can, do not gamble!!! In the long term you cant loose. |
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davidlitterick
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I think you should use the money to finance properties in America. The dollar exchange rate is so favorable right now, that you can buy far more dollars than you used to be able to, and consequently will already have made a substantial discount on your investments.
The market has turned in the US already. I am Scottish and now live in the US whereI invest heavily. it depends on how much of a return you are looking for.
Inexperienced investors are always saying this is horrible and wait till the market bottoms out. An experienced investor knows that if the market is hot...good; if the market is cold....good. Investors do not speculate and do not rely on appreciation
I specialize in short sales, where we negotiate large discounts on properties that are in foreclosure. I am always looking for money partners who are looking for a high return on their investment secured by real estate.
email me and we can chat.
davidlitterick@yahoo.com
www.ShortSaleServicesForAgents.com |
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Jojo
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Darling! Will you marry me? :)
Ha ha ha |
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the hood
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don't buy now, there is a strong chance that house prices will drop, there is no chance that house prices will rise, hold on to your cash. |
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Badwolf
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if you're hoping to pick up a big mansion that has been reduced from a million to the 225.000 you have in the bank I'm afraid your going to be disappointed.
Yes the property market has slowed down some what, but its not as most tabloids say going to be to the stage where no-one buys any houses, in fact properties in the top end of the market which cost over £1 million are stilling as quick as ever.
I think even with £225.000 you will still be able to pick up a decent sized house depending on where in the country you want to live, and if you put that towards a mortgage you could get a considerably big property. |
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LondonGuy
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With that much money, it would be best to use a financial planner to help.
Diversification is good to get, so if you only buy one property you are at risk. You could get several mortgages for several propeties to spread the risk.
As property is usually a longer term investment, it's very difficult to time the market. |
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Rainbow Girl
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I think you should take me shopping
lol |
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Can anyone
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You won't get much with that amount (not if you live in London anyway).... keep saving |
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percy
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Depends where you live. House prices are still going up in Scotland.
If you are going to stay in your new house for a number of years then any short term fluctuation will be irrelevant.
If you are buying in england then you can afford to be a bit more choosy and probably get a better deal as you don't need a huge mortgage. So make sure that if you like a house you make your financial position clear.
I would not wait too long as even in a recession a really desirable house will still sell. and when they do start to go up again it can happen very quickly and you could miss the boat. |
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jetsetter
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you should wait u will get more for your money |
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T K
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Yes I think that would be a good idea If you are happy with the place you are living in currently, wait a few more months and see how the property prices fair. |
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Ding Dong
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So what you're actually asking is whether you should buy something when it costs £225,000 or wait until it costs £150,000? Did you not do numbers at school?
I don't believe you have the money anyway. |
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