To think this house is worth it and London won't crash?

(465 Posts)
Yazhi Fri 18-Jun-21 19:20:59

After searching for a long time we have found a house in an area that both DH and I like. DH thinks we should wait and see if the prices drop in London. Flats seem to have dropped and he's hoping houses follow. Who do you think is right?

OP’s posts: |
MiloAndEddie Fri 18-Jun-21 19:22:06

Not a hope in hell

MiloAndEddie Fri 18-Jun-21 19:22:20

I mean that they’ll drop

MiloAndEddie Fri 18-Jun-21 19:22:58

Flats have dropped because of everyone being trapped inside during lockdown. No one wants to be stuck in a flat if it happens again

DulseSeaweed Fri 18-Jun-21 19:24:16

I wouldn’t time the market with your home. Find something you like within your budget, ensure you plan well financially (good product, insurance etc) and enjoy.

DulseSeaweed Fri 18-Jun-21 19:24:40

In other words I think you’re right and you should go for it. No one has a crystal ball.

PicsInRed Fri 18-Jun-21 19:25:04

"Don't fight the Fed".

It's been decided that prices won't fall, with helicopter money, new immigration and favourable tax fiddles with further reform on the horizon.

The house doesn't lose and the house is backing "house".

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Ylvamoon Fri 18-Jun-21 19:25:45

If you like the house, location and can afford the mortgage I'd buy... yes you might be able to get it or similar cheaper 6 - 12 months down the line. But the real question you have to ask is are you happy to compromise for a cheaper mortgage?

If there is

Bluntness100 Fri 18-Jun-21 19:28:04

That’s why there are so many forums full of people priced out. They wire and got bitter that it didn’t happen.

You, of course, are right,

SteveBuscemisRheumyEye Fri 18-Jun-21 19:36:20

In our area everything's gone up approx 50K in a year!

Yazhi Fri 18-Jun-21 19:39:23

Roseberry Road, Muswell Hill, London
https://www.rightmove.co.uk/property/109000763

This is the house. Another one that's a bit smaller has just come on for 100k more. I think we should bite while we can.

OP’s posts: |
actiongirl1978 Fri 18-Jun-21 19:43:44

That's gorgeous!

actiongirl1978 Fri 18-Jun-21 19:44:32

DH works for a bank. Property prices factor into his work.

He says they might level off for London Market but won't drop.

Countrylane Fri 18-Jun-21 19:45:02

I think London’s gone as low as it will. People are being summoned back to work, things will open up and people will remember why London is essentially the world’s capital.

MiloAndEddie Fri 18-Jun-21 19:45:11

Well that’s a stealth brag if ever I saw one grin

ThePlantsitter Fri 18-Jun-21 19:45:15

Wow nice (and brave posting it on here for a couple of reasons). If you like it, can afford it, and plan to live in it for a good few years it doesn't matter what the housing market does. If you're planning to sell on in a couple of years, who knows? But then it doesn't matter so much about grabbing a house you love.

WeatherwaxOn Fri 18-Jun-21 19:46:01

Seems about the right sort of price for that area. My Aunt & Uncle used to have a flat in a house like that in the 1970s. We lived further on, just past Crouch End. Houses in both areas some 9 years ago were then selling at around £1m in good condition.

Peoniesandpeaches Fri 18-Jun-21 19:46:39

I really love the lampshade in the child’s room with the birds… so cheers for sending me down a rabbit hole trying to find where it’s from grin

Iwonder08 Fri 18-Jun-21 19:46:42

Prices in London won't crash. There is a zero chance they will drop in Muswell Hill. Lots of green space, good schools, safe. It is very desirable

SandysMam Fri 18-Jun-21 19:49:52

That noose by the kids bunk beds is the most horrifying health and safety concern I have ever seen!!
Other than that, if you like it buy it. Crazy though, my Nan lived in a house like that in similar area and it sold for about 300k 20 years ago!!!

Trevsadick Fri 18-Jun-21 19:50:07

Honestly, I wouldn't worry top much about house prices dropping, if you are planning on being there a long time. Long term, they usually go back up.

As long as you can comfortably afford the mortgage, and get a fixed rate mortgage you should be OK.

I have said I won't move now, unless it's my forever home. I can't find one I like though. If I do find one, assuming it's not hugely over priced for the area, I would definitely jump at it. Its where I will live til i go in a home or die. So wether prices go up or down, won't really impact me.

Stichintime Fri 18-Jun-21 19:50:22

It's the area that makes it so expensive. Loads of lovely places in London cheeper. I'm surprised someone who apparently is considering buying such an expensive property is asking for market advice on mumsnet! Do you not have account or financial advisor to ask?

SandysMam Fri 18-Jun-21 19:51:11

You could live in an actual mansion an hour away though Op. It really blows my mind!!

JesusInTheCabbageVan Fri 18-Jun-21 19:51:25

MiloAndEddie

Well that’s a stealth brag if ever I saw one grin

grin Muswell Hill, darling? Bit rough for my taste, but I suppose someone must live there. Tradesmen, perhaps.

Yazhi Fri 18-Jun-21 19:52:02

This one is 100k more which is my evidence to DH that the one I like is worth it! The second houses photos are nicer but the house itself isn't I don't think.

Rosebery Road, Muswell Hill N10
https://www.rightmove.co.uk/property/108637082

OP’s posts: |

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