WHEN IS THE BEST TIME TO BUY?

Feb 01
2010

These days this is a question that is coming up more and more frequently. The property market in the UK is currently experiencing a slump that it has not felt in decades. Due to this, a lot of people who may be looking for a new property are unsure whether now is the right time to buy.

The answer to this is that yes, now is the best time to buy a property, house prices are lower than they have been for years, meaning that a property that may have been £200,000 5 years ago, could now be on the market for £100,000. This is no exaggeration, house prices have dropped dramatically which allows people to snap up a bargain. It is also likely that by purchasing a house now you will avoid the position that many who purchased a few years ago are now in. You will not be in negative equity due to the fact that you’re purchasing a house when its price is low.

However, although house prices are low and interest rates on mortgages are low, it has now become a lot more difficult to get a mortgage. Banks and building societies have become more stringent in who they lend to and at what rates due to the economic downturn. This means that you will now have to prove, with regard to your normal spending patterns that you can afford the monthly repayments on a mortgage as well as having a good credit report.

CAN I SELL MY HOME INDEPENDENTLY?

Feb 01
2010

With the housing market in a slump many people are looking at alternative ways to sell their home, with many taking on the sale of their houses themselves. There are many advantages of selling your home privately rather than using an estate agent.

First and foremost, you can be sure that your home is being actively advertised at all times, unlike with an estate agent, where you will be more than likely in the dark about what is happening regarding advertisement of your property. You can get your own external signs, find a website that specialises in private house sales to deal with online advertisement and you can also place the property sale in all local newspapers yourselves, this is the very most an estate agent will do, and you have to pay them for it. You can also shout about the sale on social networking sites for free to make it know that you have a property for sale.

Another great advantage is that by selling your property yourself you do not have to pay a commission fee to an estate agent, which can often be thousands of pounds. This money will be extra in your pocket rather than an estate agent who have probably done very little regarding the sale of your home.

SHOULD I BUY A HOLIDAY HOME?

Feb 01
2010

With the entire country in economic crisis, people are unsure the best way to invest their money in order to gain a profit from their monies and for it to be safe. Property is always seen as a sound investment but with property prices at an all time low and no indication on when they are set to return to their former height, a lot of people are unsure whether buying in the UK is really as sound as it once was.

By purchasing a property abroad, you will more than likely pay a higher price but also the property will have a higher value should you wish to sell it in later years. The purchase of a holiday home is a great investment if you have the cash. You will be able to spend every weekend away if you wish and whisk yourself away at the drop of the hat when the weather here is getting a bit too much to bear.

A holiday home can also earn you money – many people who have a holiday home choose to rent it out to tourists or companies when they are not using it themselves. Rent that is paid for the use of your home will ensure that you continue to make a profit.

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Jun 11
2009

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