To wait for this crazy market to calm down or buy ASAP?

[featherfence]

Me and dh can't agree on if to buy ASAP at the premium prices that are currently happening in our area or wait until prices (might) calm down and continue to rent in the mean time.

We have effectively been priced out of the original type of properties we were looking at but I'm worried that prices will continue rising and we'll never buy anywhere and also the SD saving is definitely appealing to me but dh thinks we'll be better off waiting until that's over.

We sold end of 2019 and moved in with family with a healthy budget but pandemic hit and we were out priced on the areas and outbid on numerous properties. We have ended up changing the location as something had to change and we were getting so down about it. Not as nice an area which is hard but think prices will keep rising. I just changed my mind set to “nothing is forever “

So we sat down together and decided that if we don't find anywhere and prices keep rising we have a few options:

Uproot the dc come what may and move to somewhere we can afford not what we want but needs must.

Get a cheaper rental and save as much as we can and just bite the bullet and buy. Round where we are cheaper rentals are really not nice but again, have to do what we have to do.

Or try to get a genuine ft remote wfh job and buy a small place as a base in U.K. with our deposit and piss off to live in a sunny desert island. This one is winning atm.

@featherfence I'm loving the sunny island idea! We're just going to plod on with selling / buying and get the best place we can no matter when that is. BUT - we have decided to move to a much cheaper area, so could technically afford to pay over asking price (through gritted teeth) if the house were somewhere we could stay for a long time. But we own our current house so not as tricky a situation... it's just bonkers at the moment, places are being snapped up. You can't even view houses unless you're under offer on the place you're selling!