Any advice would be great. My dh and myself are sat in a pool of indecision over what to do next.
Currently we are selling our house and have had an offer accepted on another very lovely house nearby. The only downside is this house has broken through the price bracket in that street quite considerably (offer accepted at £380000, similar house sold last year for £310000, but needing alot of work doing).
Now we are not in this move to make any money and may be there for sometime (but may also have to move in three-four years time due to work). The expense of the house is making me feel quite uneasy particularly given falling house prices predicted between 15-30% which has the potential to wipe out our entire deposit of £135000.
People use arguments that as your house price falls others will too, but surely if we have no equity/ deposit left we wouldn't be ablwe to raise a mortgage in the future.
We have a number of options which I would be very interested to hear your views on:
plan a (favoured by dh) known as the 'f**k it, you're a long time dead' approach and just go ahead and hope for the best
plan b (favoured by myself) pull out of the buying altogether and rent for a while and see
plan c try and negotiate the price down. we're a bit rubbish at that sort of thing and have no idea how to handle that without really pissing people off
any advice would be greatly appreciated!