Would you buy now or wait it out?

[toastandtea42]

Prices predicted to drop 10 - 15 per cent next year.

We're in the process of selling our flat.

Do we rent and see what happens next year to try to secure a 'deal' or buy and potentially see the house value fall within a few months which takes years to recover?

What would you do?

Have a toddler and hoping to TTC towards end of summer next year.

It really seems to be more worth waiting if your a first time buyer, if you wait, yes you might get a cheaper deal but you’ll lose on rent or if you don’t sell the flat now you’ll lose on your sale too. I’d not wait if I saw a house I loved. It’s all swings and roundabouts long term.

In your shoes I'd value stability more than money. Find a house you can afford and that you like and buy it. The amount of stress involved in moving to a rental then moving again with a toddler and potentially a baby - I'd pay quite a lot not to go through that.

Plus - how old is your toddler? If 3 or thereabouts, you will be doing school applications before too long (just done mine for May born 3yo, going to school next year). Worth bearing in mind.

Have you seen rents in London? They are through the roof! Anything you may save will be gone - three beds terraces near me rent for £3500/month - and I'm zone 3! That's a whopping £42k plus council tax and bills, not to mention cost of moving twice.
And for everyone predicting a 10% fall - there's another saying flatline. If you can find a house you like, make an offer. I wouldn't wait. And good point about schools @Dogtooth.