Scared about the future

[Stellaris22]

We have been saving for a house for over ten years, and only able to afford a deposit thanks to family help.

We found a flat and had an offer accepted and agreement in principle. It's a flat so not a dream property, but good enough for our budget to get out of renting.

DH is primary earner and relying on shares payout in 3 years (from company he works for) to help in the future. Always thought his job was essential (energy industry) but if economy goes bust then company could go out of business.

I know we're lucky to have savings, but these are hard earned.

Should we pull out of buying a flat? It's not a dream property, more of a step onto the housing ladder as we hate renting.

Why pull out? Everything is better than renting. And at least ur hard earned money is saved in the flat.
my share price value dropped by 40%!! I wish i took out before that.

Can't get shares for 3 years

Considering pulling out because it's all our savings and future is so uncertain

It depends on which market will save your money... leaving them in their non-tangible form (i.e. in the bank or as shares) is very scary to me... my colleague a year ago was advising me to go and get gold coins and hide them... cuz the price of the gold doesn't fluctuate too bad... he must be the only guy laughing at all of us right now haha!!
So whether the price of the properties will withstand the situation, is not for me to answer, I wish I knew... but I can't imagine the price of the pound will stay levelled..., I suspect it will most likely drop to its knees!

Now is the time to buy shares (if you know what you’re doing). Property isn’t a good investment unless (again) you know what you are doing but of course property has a utility value. How suitable and reliable is your current living situation? How much would it cost vs servicing a mortgage, ground rent etc? Are you willing to learn how to invest your money in order to grow wealth or do you just want to put your savings somewhere in the hopes they retain their value?