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Will house prices drop massively? About to exchange/complete - please help!

51 replies

clong742 · 26/03/2020 08:58

Due to exchange and complete on a house I love which has been in the process for months and I've planned so much for. It's been pushed back a few weeks due to lockdown. My dad is generally quite negative and always looks at the worst and tells me we will lose a heck of a lot of money if we go ahead as house prices will drop massively. For the type of house it is I can't see it dropping that much but I'm definitely no expert. I love the house and would devastate me to pull out, Id been looking for about 6-7 months prior to finding this house and have not seen a single other one that I like. Really need others advice who have more idea on this please! It's got me worried sick. We have signed all paperwork etc only thing left to do is request funds etc, we will be exchanging and completing on the same day.

In from the north east and where I'm looking there is either a ton of run down rentals for sale or there very overpriced or need loads of work done which I don't want. This house is perfect and ticks all of my boxes.

OP posts:
CatAndHisKit · 01/04/2020 01:28

newbie yes we do tend to be attached to the value of our house but I'd say if someomne loves the house and sees it as long term, they'd be willing to lose a little on it (not much, though!) depending of course on their income / security from other sources.
I agree that what you say is very important to those on tight mortgages or insecure income, but OP didnt mention these issues.

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