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Original poster

Would you buy in our position?

33 replies

zamphire · 13/10/2023 15:05

Live and work in London. Early 20s. Combined income of £120k but likely to go up to c£300k in 2-3 years time (law & finance), possibly more.
Able to get a 10% deposit from parents. No plans on starting a family until late 30s.

Would you tie yourself down and buy a 1 bed somewhere nice/fun, maybe Clapham or a 2 bed further out?

OP posts:

Wolvesart · 14/10/2023 14:35

Janieforever · 14/10/2023 11:12

Um, are you ok, you seem angry to be challenged.

as for recession, reports differ , Bank of England is saying no, nesr is saying mid chance by end of next year, yes waiting might get it cheaper, it might not, and she’s not looking to flip

rentals are littered with folks waiting for the crash and getting priced out.

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I’m fine my response is a list of questions you are finding stuff that isn’t there.

Flipping is selling after a very short time and that is not the same as moving on in 4 or 5 years and finding your property is worth less.

Re recessions: it’s always a matter of opinion.

Wolvesart · 14/10/2023 14:38

Janieforever · 14/10/2023 08:38

Hugely unlikely unless she’s about to flip it. It’s much much more likely when they sell at some point in the future they make a profit.

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It’s not unlikely at all.

smartiesneberhadtheanswer · 14/10/2023 14:53

pizzaHeart · 13/10/2023 15:13

Are you married? If yes I would, if not I wouldn’t.

Weird response. You're better off NOT being married if you're buying as then you can ring fence your share.

smartiesneberhadtheanswer · 14/10/2023 14:55

OP would be mad to marry as a high earning women.

CrashyTime · 16/10/2023 15:16

Twiglets1 · 13/10/2023 22:26

Rent cheaply in London, Crashy? You must be joking.

@zamphire you’re only in your early 20s. I would buy a 1 bed in a fun area at that age - time enough to move further out when you have babies.

I believe I said move OUT of London and rent cheaply.

CrashyTime · 16/10/2023 15:20

pilates · 14/10/2023 11:48

If I remember correctly they said we would have a crash in the market after Brexit 🤔

Thats right, because they know that most people dont understand how the property market works and they wanted us to vote Remain, the fact that people ignored the "warning" though is quite funny, obviously house prices are not as important as many seem to think? Do you remember what level interest rates were at around Brexit time though, can you tell us? That is the key to the puzzle of why they didn`t drop back then.

Twiglets1 · 16/10/2023 15:49

CrashyTime · 16/10/2023 15:16

I believe I said move OUT of London and rent cheaply.

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Apologies Crashy.

Not sure how easy it is to rent cheaply anywhere tbh but you're right I did mistakenly think you were referring to London when you weren't.

CrashyTime · 16/10/2023 16:01

Twiglets1 · 16/10/2023 15:49

Apologies Crashy.

Not sure how easy it is to rent cheaply anywhere tbh but you're right I did mistakenly think you were referring to London when you weren't.

Show quote history

Well if you want to be diligent and explore a lot of the rental options out there (there are a LOT now because so many people bought BTL/2nd Homes etc. or cant sell a house or cant pay the mortgage etc.) you can do better than jumping into a Super Bubble as it self destructs with jumbo mortgage debt, that is my point. You have to explore the world of private landlords, sometimes it is word of mouth even and never appears on Rightmove.

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