Looking for some impartial advise

I’m looking at selling and upgrading. I have a good deposit and decent savings which are just sat there not earning any interest.

My house appears to be worth more than I expected but in a still booming market that’s only going to impact on the other end.
I know the best thing to do now would be to sell and live with the in-laws until there’s a market crash, but I’d rather shoot myself in the testicle than do that.


My question is, is now a good time to move? Or am
I better just locking in on a fixed term and staying put for another 3 years until economy settles or the nuclear holocaust appears.

I asked my local estate agent this but he was very keen for me to sell, for obvious reasons

Do you only have one testicle ?

winsomeyen wrote: ↑

Thu Feb 24, 2022 6:54 pm

Do you only have one testicle ?

Hmmm he didn't specify left or right so you may be correct

Inchy wrote: ↑

Thu Feb 24, 2022 6:41 pm

Looking for some impartial advise

I’m looking at selling and upgrading. I have a good deposit and decent savings which are just sat there not earning any interest.

My house appears to be worth more than I expected but in a still booming market that’s only going to impact on the other end.
I know the best thing to do now would be to sell and live with the in-laws until there’s a market crash, but I’d rather shoot myself in the testicle than do that.


My question is, is now a good time to move? Or am
I better just locking in on a fixed term and staying put for another 3 years until economy settles or the nuclear holocaust appears.

I asked my local estate agent this but he was very keen for me to sell, for obvious reasons

There's never a "good time" to buy unless you can see house prices falling and you have a big deposit or enough to buy them. It's always expensive and carries an element of risk.

Sounds like you've got decent funds so the balls in your court - decide to move if you want to. Move if you can find somewhere affordable you'd like to move to.

Don't ever bother asking anybody with vested interests again - of course the estate agent will say that!!

Buying a gun your best bet...

do you need to move ? If the answer is yes then move

It's like buying a new tv, there never will be a good time - so it always boils down to necessity

Hi Inchy,

Estate agent here.

Don’t think a post credit crunch crash is coming this time. That was the popping of the 100%/125% mortgage bubble which overinflated prices. I can see a correction coming toward the end of this year / beginning of next year of maybe 5-10%.

You’ll never get an estate agent (whilst working) tell you now isn’t a good time to move. Prices have rocketed because there’s nothing on the market and rates are ridiculously low.

If you need to move, do it now. Chances are you’ll get a great price for yours and have people fighting over it. Buying is the hard part at the moment but I wouldn’t bank on a crash.

My advice would be move if you need too. Otherwise if you like where you live and it fits your needs stay put until it calms down as it’s madness at the moment.

Hope that helps.

The housing market isn’t going to crash so I’d crack on before prices go up even more. I’m in the same boat and am going to move this year.

House prices don't crash.

They've been known to stagnate for long periods.

Tend to agree with Rowls, no point in asking an estate agent. They are experts at polishing turds, whether that be specific property, the housing market or the economy in general.

There have been expectations that the housing market has been going to drop for years. Post Brexit vote and post first wave pandemic have been done of the recent ones. So far it hasn't happened though and those who tried to time the market are looking at ever increasing prices.

I'm sure it will happen at some point but I wouldn't let it put you off.

Inchy wrote: ↑

Thu Feb 24, 2022 6:41 pm

Looking for some impartial advise

I’m looking at selling and upgrading. I have a good deposit and decent savings which are just sat there not earning any interest.

My house appears to be worth more than I expected but in a still booming market that’s only going to impact on the other end.
I know the best thing to do now would be to sell and live with the in-laws until there’s a market crash, but I’d rather shoot myself in the testicle than do that.


My question is, is now a good time to move? Or am
I better just locking in on a fixed term and staying put for another 3 years until economy settles or the nuclear holocaust appears.

I asked my local estate agent this but he was very keen for me to sell, for obvious reasons

The point about locking in on a fixed term is a moot point because most fixed deals can be passported

Inchy wrote: ↑

Thu Feb 24, 2022 6:41 pm

I know the best thing to do now would be to sell and live with the in-laws until there’s a market crash, but I’d rather shoot myself in the testicle than do that.

Otherwise known as 'dropping a bollock'.

Are you happy or unhappy where you are?
Good or bad neighbours?
Found somewhere more suited to your life style or work commitments?
All more important than finances, unless you are looking to leave a more valuable property to kin and then future care costs or inheritance tax come in to play.
Just be happy.

winsomeyen wrote: ↑

Thu Feb 24, 2022 6:54 pm

Do you only have one testicle ?

Your thinking what I'm thinking; it's Hitler.

Houses fly off the market in this part of North Yorks. Most houses go for more than the asking price, usually because within 2 weeks of going on sale, they've received multiple offers. House prices might slow down, but they rarely drop. if you are serious about wanting to move I'd do it sooner rather than later.

If you only have one house, it's fairly pointless treating it as an investment. Its primary value is as a place to live.

I suppose you could move up the market as high as you can until retirement, and then sell it and move back down market and use the change as a retirement pot. If you're doing that, then you would probably want the best house you can get, as soon as you can get it. But like you say, assuming you don't buy in the wrong place, the property market will tend to rise or fall together.

Selling a house now in hopes of buying one cheaper in a year or two? That would be foolish. You don't know what the property market is going to do. But we have a fair idea what inflation is going to do, and in the circumstances liquidating your assets so you can sit on a pile of cash would be a bit, shall we say, courageous.

Crazy prices at present. Sell and live in a caravan, until next year!

Hey matey,

I agree with the posters who think that a price-crash is unlikely.

We bought in Sept 2020, unsure whether COVID would be world ending or not. Sometimes you have to take a little risk and nobody on this board or anywhere else in the world can tell you definitively about house prices, stockmarkets or crypto futures (although many will try).

Totally agree that if you have only one place, it isn’t about whether it makes money, but is about quality of life.

You both have stable careers - if you can afford the new (assume larger) mortgage that enables a move today, then even a collapse in house prices won’t impact that, and over a 25 year view / when you retire and might want to downsize, the likelihood of it being worth less than today is of course pretty low.

Maybe factor in some interest rate rises, but you’re a sensible guy. If you think it’ll be ok, and will be great for your family, then go for it.

Sell, move and get on with your life in your new home.