| Comment | Yip it is a wild market out there. I stay in Ayrshire and things are flying off the shelf within days. Ex local authority houses selling for 10-20% over home reports. You only overpaid if you need to sell it and want equity. As if you sell it when the market is low, you are also buying when it is low so it more impacts FTB or people who need equity as deposit.
My advice to anyone buying right now is if you plan to stay in it for years then there is no issue. The problem is if you go to sell and end up in negative equity (I saw that alot as a mortgage advisor back late 2000s).
Congratulations on the new place.
Ps for all the BTL haters out there, trust me they are not buying right now, it's the opposite they are selling their properties while the market is high |
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