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?

I agree, but I’ve never known there to be so many redundancies as there’s been over the past year or so and I can’t think of how the economy will improve in any significant way. So prices will fall but then so will the number of people who are able to save for a deposit and pay a mortgage. Personally I am really scared of taking on a mortgage alone - if I lose my job I’m pretty much done in.

I hear you, we have younger family with similar worries.

Two things they have done that are very sensible. The first is the determination not to overpay or overstretch when buying - so they are waiting and still saving.
The second is to always keep back a decent emergency reserve savings fund that will enable them to live frugally for 6 months without an income. That seems to have taken the edge off the fear. I wasn't as careful as that with my financial planning at their age but in todays world its a very sensible attitude to have.

@1975wasthebestThat's why its important to stress test your finances aggressively. We bought a house back in 2011 both of us were working full time in high paying jobs. My job pays out very well for sickness so naively thought id be covered. What I didnt bargain for is a neck injury that would change my life and career. I dropped hours to compensate but eventually was pushed out of the job. I freelance but my money is sporadic and low. I cant claim a thing. Obv ive my husband's wage but paying out bills for a hefty home was a massive strain on all the family every month.
So what im saying you have to think if you lost your job or were ill and relying on benefits, could you get by. Do the maths, make it the worst senario as possible. Try to put money away even if its a couple of quid a month. Today you need a buffer. Living hand to mouth is super stressful.
Utilities used to go up about minimally every april but now the gloves are off and they are going up 30-50 quid. Its a hell of a shock. Our council is 1 of the most expensive in wales so thats another thing to factor, our council tax was the same as our monthly mortgage payment, crippling. We are going to slip into a cheaper council.

Thank you 😊 We are in a good position. The house we own at the moment has a year left on it. We have outgrown the house and really need to move, but don't want to sell it we're going to rent this one out. We live within our means now so can afford a bigger mortgage, especially now we only have a year left on this one. But Im definitely thinking with my head and not my heart as anything could happen. It's exhausting

Disappointing viewing this morning. House needed a full renovation but was priced as if it wasn’t. I hadn’t seen pictures as it was off market. It was also unbelievably filthy so I can’t imagine the vendor is motivated and is probably difficult to deal with.

How much do you know of the legalities of being a landlord.
There are many who are getting out of btl now with all the increased regulations and increased tax.
Would you have spare money to cover if the tenant stops paying rent.

Yes we're aware.

I would never buy a new build again. Our builder has gone bust .... sewers not adopted, roads and pavements not finished and the beautiful parkland next door is full of crap.

@GoldTieaw no way. This is what we are seeing, prices of an up-to-date home but no where near the internal quality. There was a 3 bed detached on by us, didnt even have central heating. Prices the same as a house all done up.

@mybiggreenfrogoomg sounds awful, ive seen some under cover programs regarding the quality of new builds, not all developments are equal. There are some reputable developers.

It was sold 5 years ago for £100k less than what they are now asking. I looked at photos of when last sold and thought it was pleasant if a little dated. With the extra £100k lobbed on I thought they must have done improvements in the meantime and was looking forward to the viewing. The house had had ZERO done to it in 5 years, no decoration, no maintenance, let alone new kitchen etc. So there was rotten woodwork externally everywere.

Also looked like he hadn’t cleaned in months if not years, the dust was so thick, washing up piled in sink, sinks in bathroom and kitchen looked like they hadn’t been cleaned in about a year, floor filthy. Ugh. Hilarious the EA asked me to remove my shoes at door.

All of that is fine if priced accordingly and a head up it’s a do-er upper, given there were no photos, before I traipsed over to view it.

@GoldTieAsked you removed shoes ha, id have said its ok ive seen enough and left. Theres messy and theres filth. Absolute piss take.

💯

we went to see yet another new build house, this time on a small development of 18 houses. It is the perfect house for us. Everything about it was ideal, including a much smaller garden than we currently have, but still very spacious - big enough to add a large summerhouse, greenhouse and conservatory without making much of a dent in the garden space.

trouble is, we aren't proceedable yet, will keep fingers crossed,

im sorry it wasn’t what you hoped. They sound bonkers wanting £100k more for nothing.

Obv looking through properties last night and reading around chatgpt says rightmove searches etc intensifies on boxing day. Have to say ive never really looked at christmas. I know last jan lots of properties came on but boxing day. Do people put houses on for boxing day.

I swear this is totally made up by agents to make people come on before spring and spread out their workload. Every year a few punters fall for it so it’s now a thing 😂

Yesterday I was browsing sold prices on Zoopla and Rightmove. A house we just missed out on as we weren’t under offer is now recorded as a sale. Sold 7% below asking in June 26.
zoopla is claiming it’s worth more than the original asking price now. Surely no half competent AI algorithm would come up with such nonsense. Prices have fallen since June and nobody is disputing that so how on earth can it have increased in price since June this year!
another sold for 9% under asking in March 26 and again is now worth more than the former asking price on both Zoopla and Rightmove.
it seems to me these platforms have an agenda. The problem is that vendors may look to these ‘estimates’ when setting the sale price on their house.

@HinzKunzThis is why I dont trust alot of these people who have predictions about houses prices. Facts are facts, they are trying to manipulate the market to stop falling prices but if there is no money about its inevitable. At the end of the day selling houses is a market. Things go up but they also come down. Alot of the bs of house prices booming are from estate agents. ONS figures show different. Yes there are pockets of areas still thriving but on the whole prices have dropped. Sellers who dont want to believe it will be in for a shock. Sitting on the market in denial.
What ive noticed is sold house prices are not being published as frequently. Its been a yr since a house sold by me and there is no info on its sold price. Rightmove says its 6 months behind but still nothing.

Unfortunately sellers, encouraged by estate agents, are in cuckoo land. Similarly, I withdrew from purchase after survey picked up property needing new roof, ceilings, blocked drains, etc. Vendors argument was "I've already dropped by £85k!"..ermm no, you just couldn't sell for years because you overpriced property initially.

Sellers just forgetting that era of low interest rates are over..nevermind CoL crisis.

It can take a while. Try houseprices.io as well. Just in case RM are less up to date.

Zoopla is bonkers.

My son bought in March 2025 and it says +£18k! Its not a bad area as there are a fair few well paying company HQs in the town and sales seem to actually be happening still on his road but theres no way its increased from when he bought.

My late parents house is on at £350k with no offers in over 6 months. Zoopla says its worth £349k.

We have just gone live with our own home (to possibly move into my childhood home above) and Zoopla doesnt have a scooby - it says we will sell on 27th January 2027! Crystal ball time.

@foursquares Ive just pulled out of a house, it needed new roof, boundary walls were shot and they had some dodgy cowboy cavity wall insulation removal. Vendor is pissed with my surveyor and says what has he been saying, venfor is like ive given them a professional invoice 😂. Mate that is just a receipt that you paid, tells me zip about the house. There are some grifters out there.

@Guidanceplease20I didnt rely on zoopla, look at the sold prices in your area for comparable houses. That will show you the true price. EA have and are inflating prices so thats is not helping.

@2longinthetooth sadly it doesnt work so easily here as literally nothing is very comparable as every property is unique.

Within easy sight of ours weve had in past few years 600k, 1.2m, 375k, 395k and 125k!