will the house prices drop
2007-02-04 20:25:32 · 6 answers · asked by zak786999 1 in Business & Finance ➔ Renting & Real Estate
I would say buy now, i'm not an expert but in my experience house prices have been rising for the last couple of decades so buy now before you can't afford.
2007-02-04 21:15:16 · answer #1 · answered by martin_ross88 2 · 0⤊ 0⤋
Sorry if this answer seems a little flip - it's not meant to be...
You should buy a house when you're ready and need a house. There were many people who purchased in the past couple years - when it appeared a good time to buy - who were not really ready. Hence, we now have a higher foreclosure rate.
First a foremost, you are puchasing your home. Yes, it will appreciate over time and you should consider investment aspects of the purchase, but your major concern should be whether now is the right time for YOU to purchase a HOME.
Over the years, here's the advice I've heard -
> Buy when interest rates are high. You'll pay less for the house and can refinance when rates are low.
> Buy when interest rates are low and you'll get more house for a lower monthly payment.
> Buy when housing prices have stalled - people are willing to deal.
> Don't buy when housing prices have stalled - they'll probably go down lower and you will have overpaid.
> Buy when prices are going up - you will have instant equity.
I could go on, but you get the point. Buy when it is right for you and you won't go wrong.
Best of luck!
2007-02-04 22:47:01 · answer #2 · answered by CJKatl 4 · 0⤊ 0⤋
As house prices are not predicted to drop
try to get on the property ladder as soon as possible
lets face it even if you have to rent out part of it
you will have an investment
search out house auctions etc
if you really cant afford the property you want
there is even a company that arranges house buy sharing
all options are open to you
peace and happy house hunting to you
2007-02-05 07:00:32 · answer #3 · answered by de-light1 2 · 0⤊ 0⤋
The way i see it the property prices aren't going to fall back to the prices of the good old days. So if you are thinking about buying i suggest you do it sooner rather than later. Also as a note i suggest when getting a mortgage you should look for a fixed rate one.
2007-02-04 20:33:07 · answer #4 · answered by boomer 2 · 0⤊ 0⤋
If your not sure dont invest. Try somewhere in europe where you have more confidance.
You wouldnt buy £1000 of shares because somone on the internet told you it was a good time, why buy £1/4m property on that baisis?
2007-02-08 08:42:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Is there ever going to be a good time. They keep saying interest rates are going to rise at least twice more during the year.
2007-02-04 20:32:17 · answer #6 · answered by richard_beckham2001 7 · 0⤊ 0⤋