To Buy Or Not To Buy? Options

[michellien]

So, the situation on the property market is difficult and unstable. House prices keep falling. But there is a good point to all this. It might seem like now is just the right time to invest into property. But is it really so? On the one hand, it's a good chance to save on interest and get property cheaper. But the instability on the job market is pretty frightening. You can't be sure in keeping your job. There's also another point - maybe it's worth waiting for the prices to drop down deeper? According to the experts' opinions the prices will keep falling down dramatically. Please, share your thoughts. I would appreciate that.

This post has been edited by michellien: 1.6.2009, 10:39

[Solomon51]

Michellien,
I do understand your point about the property prices and "just the right time to buy". I believe that cash buyers have a great opportunity to invest their money, but those who were counting on mortgage deals might find themselves in a complicated situation: on the one hand, mortgage rates have decreased significantly, yet on the hand lenders have toughened the lending criteria and much less people now qualify for a mortgage they hoped for

[Milashka23]

Dear Michellien,

Frankly speaking if you have money in cash it is a good investment, to predict how long the house prices will fall is impossible. That is why you should be prepared to conserve your money in property for a substantial period of time. Property investment at the moment is a long-term investment, so it is up to you to decide. By the way the level of mortgage approvals slightly increased in March.

with best wishes Milashka

This post has been edited by Milashka23: 13.6.2009, 8:21

[bigbird]

In my opinion, if you money's tied up elsewhere, it might be best to leave it there for now even if you are renting at the moment. Housing prices will keep falling, rent seems to be reasonable too. I bet in a year or so, you may be able to get a right bargain of a property. But, of course, any type of investment is a kind of gamble and its up to the individual to make that choice!

[bradley]

In my opinion, if you money's tied up elsewhere, it might be best to leave it there for now even if you are renting at the moment. Housing prices will keep falling, rent seems to be reasonable too. I bet in a year or so, you may be able to get a right bargain of a property. But, of course, any type of investment is a kind of gamble and its up to the individual to make that choice!

They want to scare us into banking terms and what not but the fact is that these down turns happen and waiting them out until it returns to normal is important. Instead of clinging to your money invest in property.

[elrigby]

Now I'm even more confused! Am still in the process of weighing pro-s and con-s and deciding whether to buy now or to sit on the fence for a bit longer. It'll be my first purchase and am already concerned about the deposit and worry that if i wait around for too long, i'd need even more cash.

[judithscott]

Dear Michellien,

Frankly speaking if you have money in cash it is a good investment, to predict how long the house prices will fall is impossible. That is why you should be prepared to conserve your money in property for a substantial period of time. Property investment at the moment is a long-term investment, so it decides up to you. By the way the level of mortgage approvals slightly increased in March.

with best wishes Milashka

"Property investment at the moment is a long-term investment." I am agree with you.

[Konek]

So, the situation on the property market is difficult and unstable. House prices keep falling. But there is a good point to all this. It might seem like now is just the right time to invest into property. But is it really so? On the one hand, it's a good chance to save on interest and get property cheaper. But the instability on the job market is pretty frightening. You can't be sure in keeping your job. There's also another point - maybe it's worth waiting for the prices to drop down deeper? According to the experts' opinions the prices will keep falling down dramatically. Please, share your thoughts. I would appreciate that.

Many estate agents are reporting increased interest of property buyers and that probably tells us that property prices are stabilising. It is good to be able to buy a house at the rock bottom price, but I suppose it is like buying a pair of shoes: you can pay full price or wait for sale, but you may not get the right size. Follow your own feeling. If you were selling your own house, will you reduce price even further or will you take it off the market? Many property investors think that it is good time to buy, but no one can guaranty one way or another.

[judithscott]

If you are looking for a long term investment, Real Estate is the best one because it returns you a guaranteed income. Real Estate is the most stable investment.

[cat]

Property investment was always considered to be a long term investment. During last 10 years or so, property prices were constantly growing and people thought that it will last forever. In any case if we will study property prices, in many places they have doubled over ten years period, so if they have gone down a bit this year, they are still substantially higher in comparison to 1999 or 2000. In my opinion market will recover, may be not as fast as we want, but it definitely will pick up.

[tellmemore...]

I personally will need a mortgage to buy a property and quite happily prepared to wait for a bit longer. Not necessarily because i'm waiting for the prices to go down even more (although i'd be quite happy if they do ), but because the banks are still too cautious. So, i'll just sit on a fence for a bit longer for all the financial things ( rates, approvals, etc) to settle down. Will i regret it?