Is now a good time to move house?

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KayJay

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Yes
Or would it make sense to wait a little bit?
 
I have a lovely flat for sale in co durham! Haha, I would wait a while, we have spent £600 putting our flat on the market (marketing fees, hip etc) and I really wish we hadnt bothered. It has been on the market 3 months and we have had one viewer. Good time to buy if your leaving home though!!
 
Depends where you're moving to, from what I gather Scottish prices haven't taken as much of a hit as those down south, mind you my neighbour's house has been up for sale for ages and it looks cheap to me :shrug:
 
My sister is going into a rented house and then when the arse really drops out of the market, she is going to buy a bargain. well, so she says.......
 
if you have the money now is a good time, if you are selling, now isnt the time.
 
If you're downsizing, now is the best time to do it.

If you're upsizing, wait for the arse to truly fall out of the market. By that time prices will be at their lowest, inflation and interest rates may be more realistic, and you will know whether you still have a job or not. Probably sometime in mid 2010 earliest.
 
I would urge caution. This government is desperate to get itself out of the recession before the next GE. With talk of quantitative easing it would not be totally unexpected to have relatively high inflation and then the interest rates which go with it. Try and think a year or two ahead and just know they you can afford flexibility in a mortgage agreement (if you are taking one that is).
 
Cheers. Interesting advice. I can't see us moving any time soon but was curious by the massive discounts I'm seeing in new build housing in Scotland.
 
Defiance said:
If you're downsizing, now is the best time to do it.

If you're upsizing, wait for the arse to truly fall out of the market. By that time prices will be at their lowest, inflation and interest rates may be more realistic, and you will know whether you still have a job or not. Probably sometime in mid 2010 earliest.
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That's about the size of it. If you're a house owner now, then consider selling now and moving into rental. Look to buy at the bottom of the market. Incidentally, the market hasn't crashed yet, it's just the churn has slowed. Wait until the repossessions start hitting the market then just like a roller coaster rounding the crest, the market will plummet.
 
KayJay said:
Cheers. Interesting advice. I can't see us moving any time soon but was curious by the massive discounts I'm seeing in new build housing in Scotland.
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I wouldn't buy new builds either, I looked at one last year and thought "WOW", Then looked at the house we are in (after buying it) and I am so glad. I have got much more land and space for my money and it cost me/us around 30k cheap on the sale price which in turn has probally saved me about 70-80k in the future (on the morgage).
 
Flash In The Pan said:
Depends where you're moving to, from what I gather Scottish prices haven't taken as much of a hit as those down south, mind you my neighbour's house has been up for sale for ages and it looks cheap to me :shrug:
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They may not have taken as much of a hit, but little seems to be moving and more keep going up for sale.
 
arclight said:
They may not have taken as much of a hit, but little seems to be moving and more keep going up for sale.
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By "not having taken as much of a hit" I mean the stuff that has sold, but with more and more on the market it looks as if anything that is in a less than ideal location and/or not in top condition will struggle to sell unless it's cheap.
 
Yesterday, 20:57
Is now a good time to move house?
Or would it make sense to wait a little bit?
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I'd say that its getting a little late. Especially if you've not packed yet. :D
 
If you own, then see if you can rent out your house, and then if you have the deposit, buy another one to live in. Your rental income (especially if you got a tracker mortgage) should cover you costs on the house, and then you can seel it when the market is stronger. But you have bought your new home when the market is low.

If only it was that easy...........
 
It's intresting seeing everyone's views on this. We are thinking of moving level this year from edge of town to possibly of the villages nearby, but we won't be in a position to move for at lesat 6 months (we thought about it last year, but wanted to see how the market goes)
 
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