What is it they say, the day you become a buyer is the day you become a seller.
I always thought that increases in the value of your house (duck) are irrelevant as when you decide to sell it and buy another one, it's the difference between the two house prices that matters, and that will remain reletively constant.
e.g. "my house as increased by €200k" So what! If you decide to sell it and buy another one, that will most likely have gone up by €200k as well. If you don't decide to sell it then what difference does it make (except you can "release the equity"
i.e. borrow more against it.
You could argue that buying a house when prices are rising is a good thing as the smaller houses increase in value by a greater amount than the larger, more expensive houses, so the difference above may actually reduce.
e.g. 3bed semi - €200k
4 bed detached €400k
You pay €200k to trade up
Two years later
3 bed semi - €400k
4 bed detached €550k
You pay €150k to trade up.
Note: this is a pet theory of mine, not based on any investigation, and will not be argued/disputed/validated by me.
By the way, I'll throw my hat in and advise the OP to hold off. Live at home for another while, enjoy the relative freedom. Enjoy your parents. Perfect your DIY skills around the house - you'll need them! Save more towards the deposit, and buy the house that you want to live in. You wouldn't buy a car that you didn't want to drive. Why would you buy a house that you didn't want to live in. It's far easier to get rid of a car.
I always thought that increases in the value of your house (duck) are irrelevant as when you decide to sell it and buy another one, it's the difference between the two house prices that matters, and that will remain reletively constant.
e.g. "my house as increased by €200k" So what! If you decide to sell it and buy another one, that will most likely have gone up by €200k as well. If you don't decide to sell it then what difference does it make (except you can "release the equity"
i.e. borrow more against it.You could argue that buying a house when prices are rising is a good thing as the smaller houses increase in value by a greater amount than the larger, more expensive houses, so the difference above may actually reduce.
e.g. 3bed semi - €200k
4 bed detached €400k
You pay €200k to trade up
Two years later
3 bed semi - €400k
4 bed detached €550k
You pay €150k to trade up.
Note: this is a pet theory of mine, not based on any investigation, and will not be argued/disputed/validated by me.
By the way, I'll throw my hat in and advise the OP to hold off. Live at home for another while, enjoy the relative freedom. Enjoy your parents. Perfect your DIY skills around the house - you'll need them! Save more towards the deposit, and buy the house that you want to live in. You wouldn't buy a car that you didn't want to drive. Why would you buy a house that you didn't want to live in. It's far easier to get rid of a car.