How long would you wait to start looking to purchase a house?

[Gieennorg]

... as a first time buyer?

Looking for advice really, currently living with family with my partner and we have now got together a decent size deposit for a house , a few houses have gone back on the market but I believe there has been a lot of people wanting to view! (50 people were interested in wanting to see a house that was advertised last week!)

Were not sure whether it would be a poor financial decision to buy when there is a likelihood that the market may dip and wondered how long you would wait to start looking and viewing a house?

We are not desperate to move but having lived here a while we are SO ready to buy and have a place of our own!

To those that would like to put their houses on the market for sale, has the current market put you off advertising your house? Are you going to wait?

(We dont live in London- North west eng)

We had this dilemma in 2008, just before the credit crunch. We decided to go for it;

1. we were looking for a home, not an investment property so we knew we were going to be there for a couple of years.

2. unless desperate to move, people will sit tight rather than lower their price.

It took us a couple of months to find somewhere we liked (could afford), so there is no harm in looking.

Thank you =)

We have been looking for about a year but unfortunately we havent found the right property (we have offered but unfortunately the sale fell through) and we are now getting impatient!

At the same time we dont want our impatience to get the better of us and make a poor financial decision!

No one knows yet what the housing market will do. If there are 50 people wanting to view a house it shows demand is still there. The property market will recover if it does crash. Plus there is no harm in looking to see if there is anything you do like.