Should we postpone buying a house till Brexit is settled?

Grandma Moira you are right. I've only had one person after my house and he's getting a very good deal buying my house. Like you say, a year ago, I would have got a lot more. Real problems in the London area with prices dropping.

I'm moving. Not getting as much as I should for my house and buying an apartment which I'm probably paying too much for. However, I need to move to cut down on living expenses and live somewhere smaller. Do what you want to do now, as I'm moving as a widow, and I wish I'd moved when my lovely husband was still with me. Life is short . . . do it now!

Ours is in the market and what will be will be just go ahead and try that's what we,re doing.market very slow.

If you are concerned about Brexit, I think it is better to move sooner rather than later. Prices have dropped quite a lot in the last year and could crash completely after Brexit.
I'm selling and getting much less than I would have last year but it's taken nearly a year to find a buyer, which would never have happened before the Brexit decision.
For those of us with a big house (or a London house) and small pension, the price drop is an issue.

jocork Precisely! It does matter whichever way you are going, up or down has an effect on how much you can afford to pay for the next property. Not to be taken lightly when you consider the cost of moving, stamp duty, legal fees etc.

Brexit? Yes of course it is relevant, just look at how much the pound has dropped against the dollar since the vote and that is only because the rest of the world thinks our economy will plummet. Who knows what the reality will be.

So very true, Blinko. ??

We are the same streaky been up nearly a month and got our first viewing tomorrow,I have had enough already cleaning, cleaning and more cleaning I think everyone should move every five years not 38 years like us the gear we have gathered is unbelievable don’t know where to start,have cleared the garage ,loft next even if we don’t move the house has never looked so tidy ha!ha! Good luck.x

It only matters if you are planning to move to a much cheaper or much more expensive property. The value of mine has fallen in the last year and as I'm planning to downsize and possibly move to a cheaper area when I retire so I'll be worse off if prices fall as the differential will also fall. I don't really have a choice though as I can't retire any sooner and can't sell without major decluttering so what will be will be.

Well said Jalima and Pixie
House prices are all about supply and demand, if you have one to sell and one to buy it doesn’t make any difference really.Good luck.?

Interesting reading. We are seriously thinking of buying a little flat by the sea in my home country, Scotland, but are also waiting to see how things pan out before deciding how to finance it, i.e. do we use savings or downsize where we are. It’s not a rash decision in any way so I think holding fire right now is the right thing. Houses are not selling that quickly here, Hertfordshire, and, if we are to believe Zoopla, our house is worth £55k less than a year ago! The flat we hope to buy is worth around that..

Common sense needed. If house prices go down you will get less for yours - if they go up you will have to pay for more your next house. Swings and roundabouts - nothing to do with Brexit. Why, oh why, does everyone want to think " Brexit" all the time. The sooner we are OUT the better.

It's a big decision, not for others to decide. You either do or you don't, it's as simple as that.
We all live in different areas and countries so our input would be of no consequence as our housing market might be very different to yours, buoyant or in a slump.

Someone mentioned to you that house prices 'could' drop after Brexit? I daresay. However, you've simply not encountered or conversed with the person who would equally mention that house prices 'could' increase after that same Brexit. It's all complete and utter speculation so go with your own instincts and Good Luck!

Sassenach512 don't worry, Mabon1 is noted for her sympathy and understanding...

Willow I liked the ‘Brixit’ error...reminded me of that expression ‘bri**ing it’

If you have one to sell then any fluctuation in house prices should cancel out any price differences in selling and buying.
You don't know what tomorrow will bring - just go ahead and move if that is what you intend to do anyway.

You could wait for years otherwise

This is all the same as the scaremongering of the 'Millenium Bug' which was going to cause all sorts of problems but, of course, never did. Just get on with your life.

How long is a piece of string? If the doom and gloomers prediction that the world will end on 'B' day then stay put.

If you are planning to spend more than you get for your current home it might be worth waiting as any price drop is likely to be a percentage so the drop on the new house would be more than on the old.

I suggest you keep a close eye on Rightmove for potential new properties. Knowledge is an important factor when negotiating a price. If you have already sold yours and don't need a mortgage you will be in a good position to get a good deal on your new home. I am sure that is why we got such a good deal for our last home.

Too many "what ifs" in my opinion just go ahead and do what you need to do regardless.

If prices drop you will be no worse off if buying and selling. Too much scaremongering is going on. Carpe diem!

It is difficult to guess the market. If prices drop the supply dries up because some people get trapped in negative equity, others decide to wait until it rises. Such supply as there is often gets picked up by the speculators who know the agents.
You could wait and find that the house that you might choose now is not then available or you could get the bargain of the century.
As you are only looking at buying one house, I presume, and the one that you want to live in, I think you need to start looking now or be ready to pounce at precisely the right moment when they start to drop but before they have dropped to a point where ordinary buyers get squeezed out.
You will not be buying at the top of the market if you buy now so I would start looking if I were in your place but it is one of those toss a coin situations. It depends if you like a gamble or not. Otherwise just think of it as buying a home rather than an investment.

Thank you lovely people for answering, I guess you're saying we should just go for it and get on with our lives despite what Brexit brings. That's probably good advice, my DH seems to think that way but I always take my time before making big decisions.

Mabon that was an unnecessarily barbed comment no, we're not 'skint' but like many GNs we do worry about what money we have and how best to make it stretch through retirement

We have our house on the market, have earmarked a new much smaller house to move into, things are slow, but what will be will be and as time goes on I am finding more and more things to get rid of and doing it gradually is quite theraputic. Hopefully when the time does come to move it won’t be so arduous, and at least now the house is always clean and ready for anyone who wants to visit.
Now which cupboard shall I do next

I'm with GeorgieKay. Go ahead with your plans. Waiting about to see "what happens" can be paralysing. DH & I moved into a new home this year; the move was hard work but we're so glad we did it. I'm firmly convinced that after the age of 60 (though I appreciate that you, sassenach512, may be younger!) it becomes harder and harder to make the decision and then to go ahead with the sheer practicalities of moving. Do whatever you really want to do - and be happy!