Is this the best time to invest in a property(house)?

Question

my wife and myself would like to purchase our first home (UK). we are currently renting. is this the right time to buy.

Answer 1

Yes, trust me. Now is the perfect time. You will never regret buying a property. House prices are bound to shoot up sooner or later and delaying it will only decrease your chances of being able to buy a property.

Answer 2

We're waiting for a few more months

Answer 3

It really depends what position you are in and whether you have savings or not as well as where you want to buy and whether you are going to get into negative equity.

Although house prices are falling, and there is a proof that the big banks and building societies are also bringing rates down, they are still not down to where they were last year.

Last year you could a 100% mortgage, which was great for first time buyers with no savings, but now lenders want to see a deposit of 10% at least and then you have to find the cash for stamp duty, solicitors fees and so on.

The Government have now developed and are continuing to develop schemes for affordbale housing, so instead getting a mortgage on the whole house, you 'part buy, part rent' and go in on this with your local housing association.

If Shared Ownership sounds like something you would be interested in then, go to this site, which has lots of useful advice.

https://www.clickngomortgages.co.uk/shar...

The other property investment that I have personally considering, is buying abroad.  Property is cheaper and you are going to get a lot more for your money.  Depending upon where you buy, you can expect a lot more in the way of capital growth from say somewhere like Morocco.  I have been looking at buying abroad and then selling in a few years once the market here has calmed down.

Again, this site has everything that you would need to know about property investment and buying off plan.

http://www.ready2invest.co.uk

Anyway, I hope that this gives you some food for thought if nothing else.

All the best.

Jen

Answer 4

The market is still too volatile to risk your savings just yet.

The cost of mortgages is too high and properties have not fallen to the bottom of the down turn.

Financial institutions have not finished declaring their losses and there are a few more acquisitions to come.

Read the signs again in a year.

Answer 5

its a buyers market at the moment so if you can get a mortgage go for it remember renting is dead money and lots of people will be looking to rent as they cant afford there repayments so rents will go up in price