...or perhaps not buying a house after all

[ciphergoth]

...at least for a while.

Met up with babysimon at BU last night. He made a *very* persuasive case that now is not a good time to buy. Various folk made the opposite case, but his was backed up with detailed quantative historical data. I'm sore about it, but I'm convinced. It's sad but at least it means I'll be able to get a rather better property for the same money when the crash comes.

Just spoke to an investment advisor, who said if I was only investing for a year or so and then hoping to buy property, I should put my deposit in bonds. I'll also of course put the maximum I can into an ISA. It'll keep 'till I need it.

So I guess I'm looking to rent once again... but we're not in a hurry.

Comments

[purplerabbits.livejournal.com]

Is your flat mortgaged up to its current sale value, though?

And landlords have other expenses, in theory (though lots try to minimise them), and even the singiest will have months when the property is empty and generating nothing.

[ergotia.livejournal.com]

Nope, not mortgaged up to current value, prob worth twice the mortgage.

Yes landlords have other expenses but I think buying to let probably does cover your mortgage depending on equity in mortgaged property and other variables.