Is this a really risky time to buy?? Coronavirus/Brexit

[Ponyta123]

We've seen a really good opportunity property.

But I'm a bit worried it's a really bad time to buy with Coronavirus potentially hitting economy / job stability / housing market, not least having potentially infectious people trekking round our own house whilst we sell! And then if we get ill whilst doing the massive amount of required renovation work.

And then Brexit at the end of the year, double whammy.

This house would stretch us to the max of our financial budget. But then be our longterm home.

What are your thoughts?

Serious buyers will buy and serious sellers will sell. If you don’t buy it, someone else will. There will always be a reason not to buy, but in a years time, that reason might not exist, but that house will likely be long gone.

Agree with @TDL2016 There's always a reason not to buy.

Round here, the market seems to have really picked up since Christmas. We've had an offer accepted on a house that had been on the market since October and been reduced during that time. Since Christmas other similar houses have been on the market priced higher and sold quickly.

Interest rates are very low at the moment and likely to remain so, possibly go lower if the economy tanks. If you can get a good fixed rate then it could be a good time to buy.

I would say that unless you personally are
nervous about your ability to pay the
mortgage because of possible job loss then it’s an excellent time to buy.