February 25, 2009
It is a great time to buy!
Story link: It is a great time to buy!
Very good advice throughout this article.
While the market may continue to decline for some time, there are still some mega bargains to be had, which are worth getting hold of now rather than later. Once the crunch in the property market passes, then it will be a struggle to find a property that represents good value for money, as most sellers will hold out to recoup their losses.
Put out the bunting; Northern Rock has £14 billion in its piggy bank, and is ready to lend, lend, lend. If you have the deposit necessary to secure a mortgage, this is good news. It’s an excellent time to buy. What? With all the doom caused by tumbling prices, and the (US) sub-prime catastrophe, oughtn’t it be the reverse?
Shouldn’t buyers shrink away, as if the property monster’s very breath would turn them to stone? I think not. True, the market is still on the way down; but it is better to buy in a declining market than a rising one. Believe me, you won’t be the only one to spot a good deal when prices start to go up. It can be painful if the bargain someone else has snaffled happens to be the place you would really like to live.