No good can come of the increasing house prices. When I bought my house in 1990, prices were quite high. Then came the slump in the mid to late 90's and thousands of people ended up in negative equity, unable to sell or move anywhere else because they couldn't afford the financial loss. Many people stretch their finances to the limit in order to buy a house and it only takes the interest rate to increase and they find themselves in trouble.
I've seen this happen, typically to young couples who want a nice new housing estate home and two cars on the driveway. They both work to pay for the house, cars and holiday in the sun, then the woman becomes pregnant!! She can't take extended maternity leave, because they can't afford it. She goes back to work full time when the baby is 3-4months old and ends up with postnatal depression. It's a classic scenario that most midwives see week in week out. People are way too materialistic sometimes. My advice would be to rent until the prices start to fall or level out, then go for a well built older terraced or semi..
__________________
Never put off until tomorrow what you can avoid altogether.
The views expressed here are my own and not necessarily those of my family, friends, employer, this site, my neighbours, hairdresser, dentist, GP, next door's dog or anyone else who knows me..
