Hi,
We were renting and we bought the house we live in at present just to get onto the property ladder. But now we want to move house because our house is no longer suitable for us, we want to buy a larger house, but we have noticed there are a large number of houses around us that have been on the market a long time. Could this mean that the market has gone flat and if we buy a more expenive house we will end up with negative equity. Basically is it a good time to buy and sell now. I am totally ignorant with regard to buying and selling, and my partner will go asleep at the first sign of a financial discussion, so if anyone can help, thanks but please responses in plain english!
We were renting and we bought the house we live in at present just to get onto the property ladder. But now we want to move house because our house is no longer suitable for us, we want to buy a larger house, but we have noticed there are a large number of houses around us that have been on the market a long time. Could this mean that the market has gone flat and if we buy a more expenive house we will end up with negative equity. Basically is it a good time to buy and sell now. I am totally ignorant with regard to buying and selling, and my partner will go asleep at the first sign of a financial discussion, so if anyone can help, thanks but please responses in plain english!