Meant to sign missives on a house tomorrow.

[BuyingaHome]

I'm meant to sign missives on our house tomorrow.

Sil rang and told my hubby not to. We've been looking forward to this for months.

She said there's going to be economic turmoil and we should wait.

I don't know what to do! We've waited forever for this house!

Sounds like you love the house, the monthly cost is half your rent, and it could last you 10 years. I'd sign!

I'd be unimpressed with SIL saying to ask for a discount. It seems underhand.

You're always financially better off buying vs renting. Yes a bargain may come up in the future but if the house prices fall we and many others simply won't sell our houses.

We are in a similar quandary but with the mortgage being half your rent I would definitely go for it!

We desperately need a house and our mortgage will be HALF the cost of what we pay to rent

That is all you need to keep in mind. Ignore her.

If you’re happy with the house, if it’s substantially cheaper than what you’re renting now, you’d be MAD to jeopardise it.

SIL May have her own nefarious motives for putting the spanner in the works

What’s she like usually?

Does your SIL secretly want to buy the house?

Unless your SIL has special clairvoyant properties her opinion is no more relevant than anyone else's. The only reason to pull out would be iff you thought you couldnt afford the payments which if the mortgage is less than your rent wont happen. People predicted house crashes after Brexit and they didnt happen. If you love the house and can afford it there is no reason not to move. If prices do go down the housing market is so oversubscribed that lots of other people will then be able to join the market and prices will start going up again.

@honeylulu that's what I thought 😂

It seems very nosy and I just want to say it's none of your business. Don't want to upset my DH though! He thinks she's just looking out for us... it's none of her business I feel. She's a nurse!

Missives being signed tomorrow now! All good! I'm excited!

There is a danger in looking at a home purchase as an investment. Primarily, you are buying somewhere to live not an asset. Provided you are comfortable staying there for several years to ride out any house price dips then base your decision on i) can you afford it and ii) do you want to live there.

I hope it all works out OP!! If we are in lock down what happens to all the removal vans? I guess that moving dates are 'frozen' until the lock down is lifted. Sorry OP didn't mean to worry you but once you have the paperwork done at least you know you have the house.

You should definitely go ahead! Economies have down turns and then they recover. If it's a long term house I don't see any issue!

Glad you are going ahead .
None of that woman’s business, she doesn’t know what she’s talking about