Owing to many difficult situations, there may be times that you have to wait, without rushing in for buying a new house. Depending on your financial status, it might be good if you decide to continue renting and then buy.

The first thing to consider before buying is to be sure whether you are secured with your job and employer. You would not be in the home buying market, If your employer is filing for bankruptcy soon. If you also think about changing job then you could be half way through the home buying process. Lenders usually treat a new job within the previous six months as a credit risk factor.When You Shouldn’t Buy a House

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Due to the severe economic crisis more and more properties are being auctioned – many of them repossessions. Latest figures from the Financial Services Authority show the number of homes seized in the three months to June was 71% higher than in the comparable period last year.

Potential first time buyers, are wondering whether prices have fallen enough to make now the time to take the first step onto the ladder. They begin the search by browsing web-sites and looking in agents’ windows, but soon begin to realise there could be another way: buying at auction. The auction catalogues provides a large choice within each buyer’s price bracket. Full Article

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