New builds near me a paying 250 towards rent for the first year. Which is fine for the uncertainty perspective but house prices are predicted to fall 8%, that’s a potential 23k reduction in house price after I buy it. Which I could save waiting. So as much as I want the new build I’m looking at I’m waiting. And if buyer sentiment is the same as me, we will see a price drop.
@@ln5747 we have a new tax year in April, that we can put towards affordability. At the moment we are waiting for that and working on even more deposit. The houses went up 38% i think during covid. Which was crazy, at the very least it would be nice to see them drop to pre covid levels. everyone was moving for work / low interest. I wish in hindsight we had brought then but we just weren't in the position we are now. but then the goalposts moved again. we are home buyers this isn't to buy to let or anything.
@@Eagle6Airsoft i understand you can use another financial year for earnings/affordability. But "it would be nice" is of course wishful thinking. Prices went up due to inflation from money printing, they aren't permanently resetting aside from a severe financial crash. You cant time the market, just buy, especially for a home to live in. The one time I tried to time the market was in March 2020 as lockdowns were kicking off and I pulled out of a buy to let purchase at the advice of someone else, against my own judgement. As an economics graduate I could see the massive start of money printing was only going to do one thing to asset prices and I also went against my notion of never trying to time the market; in 20 years you will have on the right side. That property would be up 20-30% now, rent up the same, on a 5 year fix at less than 3%.
@@ln5747 i haven't seen any 5-year fixed less than 5, it needs to come down or house prices do. it's not an option for most to buy currently. just a fact. I'm not willing to downsize which was the agent's advice, everything is normal you just get less for your money. The amount of listing in our area has gone from 3 to about 50 post liz budget, i havent seen houses sit on right move this long for 2+ years of looking. It's not cooling off, it's dead. The new build near us is 250 homes, of which 1 has a deposit on. And if no ones buying, prices will come down if they want a sale. Nothings change about the number of people who want homes, the demand is still there, but affordability... i lost 700 off my affordability in one day thanks to liz. there is nothing to do but wait.
Couple of weeks back offered 15% less than listed price on a new build. After Couple of negotiations my offer has been accepted, Iam going ahead with it as the completion date is Aug 23, hoping interest rates will fall down a bit by then, hence choosing tracker rate
![DON'T MISS OUT! Why 2024 could be the BEST TIME to buy Real Estate in Australia [Property Strategy]](/img/1.gif)
Thanks for creating this informative video, an interesting niche people shy away from, but an untapped area for sure!
New builds near me a paying 250 towards rent for the first year. Which is fine for the uncertainty perspective but house prices are predicted to fall 8%, that’s a potential 23k reduction in house price after I buy it. Which I could save waiting. So as much as I want the new build I’m looking at I’m waiting. And if buyer sentiment is the same as me, we will see a price drop.
Someone else trying to time the market and yet to learn that lesson.
@@ln5747 we have a new tax year in April, that we can put towards affordability. At the moment we are waiting for that and working on even more deposit. The houses went up 38% i think during covid. Which was crazy, at the very least it would be nice to see them drop to pre covid levels. everyone was moving for work / low interest. I wish in hindsight we had brought then but we just weren't in the position we are now. but then the goalposts moved again. we are home buyers this isn't to buy to let or anything.
@@Eagle6Airsoft i understand you can use another financial year for earnings/affordability. But "it would be nice" is of course wishful thinking. Prices went up due to inflation from money printing, they aren't permanently resetting aside from a severe financial crash. You cant time the market, just buy, especially for a home to live in. The one time I tried to time the market was in March 2020 as lockdowns were kicking off and I pulled out of a buy to let purchase at the advice of someone else, against my own judgement. As an economics graduate I could see the massive start of money printing was only going to do one thing to asset prices and I also went against my notion of never trying to time the market; in 20 years you will have on the right side. That property would be up 20-30% now, rent up the same, on a 5 year fix at less than 3%.
@@ln5747 i haven't seen any 5-year fixed less than 5, it needs to come down or house prices do. it's not an option for most to buy currently. just a fact. I'm not willing to downsize which was the agent's advice, everything is normal you just get less for your money.
The amount of listing in our area has gone from 3 to about 50 post liz budget, i havent seen houses sit on right move this long for 2+ years of looking. It's not cooling off, it's dead. The new build near us is 250 homes, of which 1 has a deposit on. And if no ones buying, prices will come down if they want a sale. Nothings change about the number of people who want homes, the demand is still there, but affordability... i lost 700 off my affordability in one day thanks to liz.
there is nothing to do but wait.
Couple of weeks back offered 15% less than listed price on a new build. After Couple of negotiations my offer has been accepted, Iam going ahead with it as the completion date is Aug 23, hoping interest rates will fall down a bit by then, hence choosing tracker rate
Where is that if you don't mind me asking?
Nice! Congrats.
Great video! Recently just reserved a new build with a March completion for BTL. Managed to negotiate a 7% discount plus extras.
Got my cash parked for an absolute motivated bargain. Can you get any stock up in Scotland?