Looking for some advice as a first time buyer.. and whether now would be a bad time to start looking to purchase our first home? (In the current climate/ covid19 pandemic)
We are currently living with family with my partner and we have now got together a decent size deposit for a house (20%), 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 now when there is a likelihood that the market may dip and wondered how long you would wait to start looking and viewing a house? On the contrary I know interest rates are low, so it is a good time to borrow money - are the interest rates likely to increase if the house prices dip?
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? If so how long? (We dont live in London- North west eng)
I know it's difficult to predict the market and perhaps I am asking how long is a piece of string?
We havent yet seen a house but there is one we are interested in perhaps viewing when we can, albeit; the price is around 30k over our budget so I might see whether it gets reduced at all 🤔🤔 looks like there is still a chain so the seller may not be desperate to sell to consider a price reduction!
Views / experiences greatly welcomed!