House Buying / Selling Thread

[lostmyhouseski]

sold our place in Manchester in January and bought a house here in Melbourne yesterday. Intended to just look at a dozen places and come away with a better idea but ended up signing a contract for one at 4pm in the afternoon.

Incredibly happy and relieved. Many of our friends spent 9-10 months fannying around whereas we were lucky and only needed a couple of weeks (probably benefited by the fact it is a long weekend and a bit quieter). Terrible process here, alot of properties in the good areas go to auction so the bidding is fierce.

I expected the real estate agents to be absolute morons, however was taken aback by how helpful and genuine the ones we encountered were. Glad to delete the property apps off my phone and not think about it all for a long time! good luck to anyone stuck in the cycle

 

[Manchester33]

He's right though. I'm always baffled by people seeing rising house prices as something positive. Yes, you get more for your property but you also pay more for the new one and have a larger mortgage with more borrowed money to pay interest on.

I appreciate that it's good for some people (i.e. wealthy people and people entering retirement) but it's not good for the majority.

Although I understand the point you're getting at. The fact of the matter is that owning an asset that appreciates in value consistently above the rate of inflation can only be positive.

There are all sorts of problems that incurs, but less so then an economy where house prices stagnate or even fall.

 

[jacko74]

Although I understand the point you're getting at. The fact of the matter is that owning an asset that appreciates in value consistently above the rate of inflation can only be positive.

There are all sorts of problems that incurs, but less so then an economy where house prices stagnate or even fall.

An asset class that rises slightly above inflation may be a positive thing but (putting aside the whole debate over whether property should even be regarded as an "asset class") the fact that hpi has been absolutely rampant and many multiples of average wage inflation certainly isn't beneficial for either the owner occupier of said property or the wider economy in general.

Why do you think consumer spending is so restricted in the current economy? It's mainly because everyone is having to spend such large proportions of their income on rent and mortgage payments.

 

[Manc in London]

He's right though. I'm always baffled by people seeing rising house prices as something positive. Yes, you get more for your property but you also pay more for the new one and have a larger mortgage with more borrowed money to pay interest on.

I appreciate that it's good for some people (i.e. wealthy people and people entering retirement) but it's not good for the majority.

I agree but it has benefits if you are looking to sell up in London and move somewhere else. Something I am not planning on doing in the near future but may consider for retirement so we can downsize, live in the sticks and buy a place for my little un.

 

[mancityvstoke]

Houses should be a home not an investment opportunity

 

[Gareth Barry Conlon]

Bumping this as we are planning on selling our house in a few months. Anyone got any advice on Estate Agents? An online service will come in at £850 where as the high st agents want 1% (circa £1,900). I’m tempted by the high st agent on the basis they have lists of people looking in the area and will do more to arrange / co-ordinate viewings and will do them for us. Online agents want extra for showing people round so that would be more cost or possible time off work etc. Estate agents get dogs abuse so what do I need to know before I sign up.


Anyone in the process of buying / selling – how’s it going?

 

[Hoghead]

high st agents want 1% (circa £1,900)

Plus VAT. Don't forget the VAT! Make sure that you can switch agents easily without costs or knock-on fees.
Be polite to your agent otherwise you'll get a load of carpet walkers and they wont push the boat out to get the best price. A drop of £10k in price is not much on 1% commission (PLUS VAT!) but a lot to you.

 

[TheRemainsOfTheDave]

Bumping this as we are planning on selling our house in a few months. Anyone got any advice on Estate Agents? An online service will come in at £850 where as the high st agents want 1% (circa £1,900). I’m tempted by the high st agent on the basis they have lists of people looking in the area and will do more to arrange / co-ordinate viewings and will do them for us. Online agents want extra for showing people round so that would be more cost or possible time off work etc. Estate agents get dogs abuse so what do I need to know before I sign up.


Anyone in the process of buying / selling – how’s it going?

One guy who came to see my last house I sold, asked to pay a visit to the loo at the end of the viewing.

He took a dump.

Just the weirdest thing, as he had brought his girlfriend, mum and dad to see the house with him and we had to make small talk as it became apparent that he was taking too long for just a number one.

I'll never again show anyone around my house myself when selling. Agents all the way next time.

 

[CityStu]

Bumping this as we are planning on selling our house in a few months. Anyone got any advice on Estate Agents? An online service will come in at £850 where as the high st agents want 1% (circa £1,900). I’m tempted by the high st agent on the basis they have lists of people looking in the area and will do more to arrange / co-ordinate viewings and will do them for us. Online agents want extra for showing people round so that would be more cost or possible time off work etc. Estate agents get dogs abuse so what do I need to know before I sign up.


Anyone in the process of buying / selling – how’s it going?

I bought last July and found the online estate agent the best of the lot we viewed with, if that's any help. Obviously that's very anecdotal evidence though and you probably get many equally good high street agents and some not so good online. He was with purple bricks.

 

[Gareth Barry Conlon]

I bought last July and found the online estate agent the best of the lot we viewed with, if that's any help. Obviously that's very anecdotal evidence though and you probably get many equally good high street agents and some not so good online. He was with purple bricks.

Thanks – we have looked at purple bricks. It is the arranging viewings where is see the value in an agent, they are round the corner so can co-ordinate things much easier. I don’t have time to do it myself and the online option seem a bit vague on how it all works.