Nice of Hora to lower the tone, thanks for that.
Why, as a first time buyer is he that desperate to get onto the property ladder? If he can’t find a decent place to live in for the next few years (lets face it he’ll be wiped out savings-wise and other expenses so wont be moving anytime soon) he should continue to rent.
When he comes to buying his next property he’ll have a problem. He’ll have a chain and a undesirable house in that chain that he needs to attract attention for in the face of competition. He’ll be the weak link in the chain wont he?
IF hes worried about the ‘best deals’ being pulled now due to the bubble approaching then he should pause and reflect. I bet hes stretching himself just to get into this undesirable house already?
Why do people buy houses next to Pylons, petrol stations or motorways?
The same people who buy basement level Skoda’s and say its a VW underneath? They aint bargains, just next to grim locations.
Personally I don’t think now is the right time to buy. Its just before the burst (Jan/Feb 2015), property prices correction.