With the government spending cuts, the recent VAT increase and most of us worrying about whether we will keep our jobs or not – not to mention the imminent threat of a hike in interest rates – it is not surprising that many of us are very wary when it comes to moving house and we are choosing to extend our current ones or make do instead.
Many of the polls show that house prices are still decreasing, although this has slowed down over the last few months and the fact that there is also a shortage of new houses coming onto the market mean that prices are set to stabilise this year.
It is therefore unlikely that prices will go down by much more and may even increase as the economy recovers, however slowly, therefore now might, in fact, be the time to consider making a move.
Many homeowners are still open to receiving an offer on their house, as long as it is not a stupid one, and there are still currently bargains to be had in some parts of the country, although in others, such as in some areas of the south, they never even went down during the crisis.
Consider your personal circumstances carefully – think about whether you can afford to move, how stable your finances are and whether you are likely to outgrow your current home in the next couple of years.
