In This Guide

Apply for a mortgage

Buying at auction

Buying in Scotland

Conveyancing

Find and view

Negotiate

Plan your purchase

Success and failure

Surveys and valuations

To buy or not to buy

   1. It begs the question

   2. The financial arguments

   3. Economic factors

   4. Stay where you are!

   5. With your partner

   6. With your friends

Country Guides

• All Guides

All Countries:

• Brazil
• Bulgaria
• Cyprus
• France
• Italy
• Panama
• Poland
• Portugal
• Spain
• Turkey
• USA

To buy or not to buy

Stay where you are!

Print Contents Prev Page Next Page

Whatever your reason for wanting to buy a new home, it is unlikely to be the only option available to you. Four of the most common reasons for moving can all be countered with rational and sane options that it may be worth considering before you decide that a move is definitely for you:

I am moving to a new area with my work.
Rushing in and buying somewhere immediately could be a bit rash. You may be committed to the job in the beginning but soon find that you hate your work, haven't settled in the new area and don't really want to. Renting for a few months first can be a wise idea, especially if you can't be certain that your work won't relocate again in the near future.

My current home is too small for us.
We need to move somewhere bigger. Ah, but do you really need to move to do this? As long as you can get planning permission, there are all sorts of things that can be done to increase the living space of your existing home:

• Extend. Though this doesn't always add value to your house, it may just give you the extra space that you need. A new bathroom, bedroom or study could make the urge to move a little less strong.
• Convert. Usually a cheaper and easier option than extending and one which can actually add more to the value of your home than the cost of the work. You may have a loft that you can make into a room, or a basement that can be fitted out properly. There are a lot of houses out there with the potential for this sort of work.
• Save an opposition Mp (conserve a tory...). Adding a conservatory may seem like a radical right wing solution to some people, but the benefits are quite appealing. You get extra space, an all-weather way of sitting outside and it should boost the value of your property.

This house is horrid. I want to live somewhere nicer.
If it really isn't that nice, you may have difficulty selling it. A vast range of home improvements are possible that probably won't add to the value of your home, but may make it a little more attractive and therefore easier to sell. Painting and decorating, a fitted kitchen, a modern or antique bathroom, double-glazing, plush carpets and new doors can all drastically improve the look and feel of a home. You may well find that once you've done the work your whole opinion of the place changes and you don't want to move after all.

I want to start moving up the housing ladder.
You may actually be helping yourself to do this by staying where you are. You could be sitting on a goldmine if your house is lucky enough to ride a wave of price rises. Delaying moving by a couple of years or even only months could make a significant difference to the size of the deposit you have to play with next time round. The effect of this is negated if you are looking to buy in an area that is experiencing the same effect.

Prev Page Next Page