Buy or stay with mum

[Mokoblack]

Hi,
Just after a bit of advice really, my dp and I currently live with my mum and pay her £450 rent. We have enough saved up for a deposit for our own place, I am keen to start looking now but dp thinks we should continue saving and wait till after brexit. We would also like to start ttc in May, so my question do we buy now and ttc in our own home or stay with my Mum and ttc here. Also if we were to buy after baby would we end up being able to borrow less as childcare cost would be a factor?

Buy now if you can afford it.

It's much easier to go house hunting and do something up, fur example living without a functional kitchen, without a baby.

It is so much harder to get on the ladder after you have a child. If something comes up now they you can afford I would go for it, of course there are uncertainties but brexit could go on for ages yet. If your in the SE it looks unlikely that prices will drop much, if at all anyways.
We bought last year with a toddler, we had to make many more compromises than we were expecting as the bank wouldn't lend us anywhere near what we needed. That was without childcare costs, but me on a part time wage

Depends on where you live. If you think prices will drop over the next year or so then it would be worth hanging on. But you could look round and get an idea of what you want even though you don't buy yet. And I agree if you do buy something that needs work doing on it then it will be easier without a baby.

Thanks, we’re in London so highly doubt prices will move much. That was my main worry having to make bigger compromises due to how much we could borrow, never thought about buying fixer upper. Definitely makes more sense to buy first!

I've spotted lots of headlines predicting an interest rate rise in May.

Buy now. Try and get a good deal on a mortgage before interest rises. Far more difficult viewing/buying/moving/decorating a house with a baby on the way/here.

Doing it now will mean you will be focussed, have time to plan/decorate/do the garden and enjoy it before baby arrives and £450 per month would be better paid towards a mortgage.

If it was me, I would buy now and if the figures added up, rent it out for a year with the aim of building up savings

Buy now. Prices are rock bottom in London ATM

How many here saying buy now looking to sell themselves? And London being rock bottom is a hilarious statement. OP I'm in a similar position to you and the more I view (zone 6) the more I'm convinced I should wait. Gone from 2 bed mid terraced being top of our budget to 3 beds without us looking to pay any more. Think when the tax demands start to filter through to those with BTL's there will be quite an influx of starter sized properties coming on - I reckon another years saving and waiting would definitely pay off.

@cheeseislife good to Years a difference in opinion

*hear even