I'm about to get married to my lovely partner after an 18 month engagement and it can't come soon enough! We're really interested in buying a house to start a family but now we're looking around, everywhere is so expensive.
I'm lucky to be in a well paid job, and have stashed away £100k. We're hoping to get a 4 bed house (or 3 bed with potential to convert the loft) in the Walthamstow/Highams Park area. Initially we were looking to spend around £450k, as that was the sold prices in the area 9-12 months ago, but asking prices have shot up to £500k+ (as have some of the sold prices).
I know we're lucky to be in a position to save this kind of deposit, but I'm really nervous about this purchase. It seems like we're on the tipping point, similar to 2007. I know a couple of economists in high-level banking roles, and privately they're expecting a major economic meltdown in the Far East soon.
Part of me doesn't want to get ripped off, but the other part of me wants a nest for my family.
I absolutely hate the idea that I've had to work really long tough hours, and given up so much for this deposit, just to give it along with the next 25 years of my earnings to a pensioner who's had a cushy 9 to 5 public sector job with a final salary pension.
Could really do with some emotional support!
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Is now the worst time to buy a house in London?
34 replies
adriennewillfly · 18/10/2015 20:13
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