I own a 2 bed terrace (no mortgage on, just me on the deeds) valued at just shy of 140k (offer accepted on my house). We've had an offer accepted at just over 260k on a house which is right at the top of our budget.
Lack of parking is the main issue currently.
I'm concerned about going to the top of our budget (nearly are) when an offer we've put in on a house has been accepted at just over 260k and the market could collapse.
The thing with the house we like is that it needs very little work doing to it as it has been refurbished in the last two years (property developer) and this person bought it just under 170k 2 years ago.
You're now thinking why don't I just look for a do'er upper? I'd love to but I'm due to start a full time uni course with work next week and will be working full time (shift work days & nights) as well as being a dad etc so I will have very little time to develop a property for the next year.
Should we just take the plunge on a house that we like?
Or should we sell and move into rented for a short period to see what happens with property prices and interest rates?
I very much doubt property prices will go up. More likely stay the same or potentially collapse!
The MSE said on tv tonight "It's cheap to borrow money on a mortgage at nearly all time lows at the minute" Is that just enticing us to borrow a lot more money on a product (house in this case) that could potentially devalue rapidly come Brexit day?
Read more: Should we buy a family house at the top of our budget before Brexit or look at a do'er upper? Or rent for a while after selling my home?
