Craig Gibbons' Lifeblog lifeblog://tri.eat.net

27Feb/070

Adventures in House Buying

It’s been a while since I sat down in earnest to write something to post on this blog. Truthfully, even though so many things have happened over the last couple of months, I have lacked inspiration. Call it writers block if you will. But now, after all this time, despite an all consuming work load and seemingly endless life and work administration tasks to perform, something wonderful has happened, something inspiring, something life changing! Gemma and I have bought a house!

We had in the past, discussed at length houses in London and our desire to own one. For the longest time we’ve been peering through windows and leafing through papers and watching those TV shows where somebody takes a wreck of an old barn and makes it into a palace and all along, the desire has been growing and growing until about a month ago we finally decided enough already, and we began to look for our own house, well, our own home.

People will tell you different things about buying a house and the gravity of the decision is not to be underestimated, but I don’t think either of us were fully prepared for the experience. Certainly in years gone by the property market has been buoyant, but never ‘white-hot’ as the Metro (that all-authorative source of information) put it a few days ago. This is by no means an exaggeration; it is profound how prolific house buying in this town has become. It’s a seller’s paradise out there and everybody owning anything from a town house on Regent’s Park circle to a janitors 3m x 4m shoebox in Kensington (no kidding) is cashing in. While this is bad news for buyers, I am confident this is still the time to buy. With London having now eclipsed New York as the financial capital of the world and city bonuses set for another record year, the trend seems set to continue. One is left with the feeling that every day spent not owning a property is a day one is losing money and as an estate agent friend of mine said, “Buy anything. Buy it now. It all goes up”.

Our new place, Subject to Contract (he says while clutching a wooden chair), is a 1st floor apartment in a beautiful period house not far from Queens Park in North West London. Guests welcome anytime.

UPDATE 10th August 2007: We heard last week our sellers have decided to pull out of the deal. Apparently the market had risen so much during the time us faithful buyers were waiting for problems to get sorted out, the sellers decided to go back out to market, for another £75k. Nice. We've been back in the hunt for a while since then. No darn fun.

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