I hung on for years and years wary of buying convinced there would be a crash. If I'd bought when I first could, even if there had been a crash I'd be better off than I am now. If I'd bought at the very top of the market just before the last crash, I'd still be better off than I am now. I think I bought at the very top of the market for Folkestone this time round, and I'm not sure our flat has gone up in value much in the three years since we bought it (though my bro-in-law's bungalow has been valued at 25% higher than they paid for it). I can see there being a serious levelling out in some areas, but not everywhere. I probably wouldn't buy a flat as an investment round here right now, as I know there are going to be lots more built, which ought to keep the price down, but buying a property that you will actually want to live in is less risky. There were a couple of "blocks" of very nice looking new flats in the centre of town that were just being finished when we moved in, more expensive than ours, and a bit smaller I think, and one or more of them is always listed in the local paper as being up for sale or rent. Things like that being available stop the value of comparable flats rising, but if we can get the sort of rental value they do we'll be fine.
We could sell this flat and use the equity in it towards the next place, but part of that would get swallowed up by fees and things anyway, and I do love this flat and want to keep living in it for now anyway, and basically we need to either stay here or rent it out with the pool table in situ, as we're unlikely to move to another place with rooms big enough...
Sales pitch, in case someone comes across this in a couple of years time looking for a two bedroom flat to rent in the West End of Folkestone, near the station, near the town, glimpse of the sea, 17' x 15' lounge, 17' x 16' bedroom, 11'6'' square kitchen / breakfast, with a nearly 11' high celing, big bathroom, double glazed, central heating, a very cool remote controlled fireplace that I don't think I can take with me, a couple of humungous walk in storage cupboards that are crying out to be turned into en-suites, I mean I could go on... It's not available yet though. One day.
Car, yes, I want to get a van, but the wife is not keen. The new job is right by Folkestone races / Westenhanger station (three stops away) and we're right by the station, so I have no excuse for adding to the air pollution just yet.
I originally had a load of ebay links to VW Splitties for sale here, I may reinstate it at some point. Maybe embellished with other VW Split Screen van content. I have long given up on being able to afford one of these though.