Property buying support thread

[HinzKunz]

Anyone interested in a buying support thread? There’s a few selling ones but we’ve sold already but I’m finding the search process no easier than selling.
There’s not much coming to the market despite agents pretending there will be an autumn rush before Xmas. At the same time rates are going up which is scary.
if you’re hoping to buy how is it going?

That sounds very sensible. I hope you find something soon.

I really liked the new build we saw! It was fab but the garden just wouldn’t work for us sadly. Other than that I loved it. Such a shame!

Aw shame, we didnt mind the garden because its smaller than ours, which im finding overwhelming and my dh has zero interest in the garden. It then becomes another chore. Our new builds had them on for 300k but now increased the price by 25k 🤯, im not paying 325k for a 3 bed detached.

How can they justify that in this market? It’ll just price more ppl out who could be potential buyers. I’d just make an offer as if they were still priced £300k and back it up with falling prices locally…

I’m probably going to put my house on the market February /March next year and am looking to downsize from three bed terrace in zone three to two bed flat in zone 2. Financially this does not make sense as my house has grown in value since I bought it in 2021 (when things were flying off the shelf) and fiats are definitely flatlining but I want to release some capital and be closer to the hustle and bustle. I’m in my 60s this may be my last move There are a few I’ve seen on Rightmove I’d consider and it’s not out of the realms of possibility that they may still be on the market in six months. I sold before buying last time due to two purchases failing (sellers pulled out) which ended up with us over six weeks in Airbnbs. Back then renting was minimum six months and we had dogs, we were moving for my daughters sixth form and rent would have been very high (like £3k/month) to make it commutable.
My current area is very family oriented as within walking distance of three good to excellent rated primaries, which keep the prices stable. But London isn’t a typical market, there’s more movement than others areas. I’m still seeing flats with leases below 90 years which I wouldn’t touch. I own a very small flat in Fulham and it has not increased much since 2016, but I let it so have a decent income from it. Another I own in Hastings I couldn’t sell last year for a price I want so withdrew it. Service charges are an issue and some fairly reasonably priced flats have charges over £5k (and saw one at a ridiculous £20k) some with out the amenities (gym, porter) that one would expect from high charges. And those fees never come down.

The government has announced a tax payer funded bailout for the developers to sell new builds. They will probably increase the price a second time once the full details of the scheme are out.

@drysherry cheeky b*stards, well i thought something was off, round here below 300k will sell but not the ones above 300k. Land tax kicks in significantly so puts people off. Plus for us they are built by a major river. It says there has been work put in place to avoid flooding but my fear is with erractic climate change these provisions will fail in time.

Ahh yes I forgot about the government scheme. I despair hearing that. Ppl will buy them and will get stuck in negative equity.

I would rather carrying on renting than get involved with the scheme - too much risk of negative equity and when the government loan repayments begin I wouldn’t be able to cope.