House Hunting during a Property Boom

As mentioned recently, I have been house-hunting.

The last time I did this was ten years ago, when I bought my BTL flat.

Different times, different circumstances, different reasons.

Fast forward to today and let’s just say that had I been able to, I would have picked a less frantic and chaotic time to look for a new home!

Boom

I’m sure most of you will be aware that there’s currently a property boom, with properties being snapped up like hot cakes, despite the continually rising (and often ridiculous) prices. It’s definitely a seller’s market.

As soon as I knew I was buying, I registered with around a dozen local estate agents. Only 2 bothered to get back to me – they’re inundated with buyers.

Walking into the estate agents’ offices yielded better results. Some properties were on the market for only a few days (some for just one day) before they were sold and I can verify this from my own experience of fruitless efforts.

Why the boom?

Various factors, including people having surplus cash saved up during lockdown and of course the stamp duty holiday. That said, house prices are predicted to continue rising for a while longer even after the holiday ends and then at some point, the housing bubble might burst – the prices can’t continue to go up forever, can they?

Viewings

Anyway, it was weeks of frustrating searching before I was even able to get to view my first property, despite finding several which I liked.

With COVID restrictions still in place, properties were already sold or under offer even before I had the chance to enquire about them, never mind view, or the sellers weren’t accepting any more viewings because they already had (on two properties I was interested in) over 30 buyers interested. Ridiculous.

I realised that I had to dedicate time in the day to enquire about properties – leaving it until when I’d finished work was too late.

Went to view one house which was nice at an affordable price but I realised that it was too far away from friends and family (and work, as I’ll still be expected to go in the office, even if on a flexible basis) so at least I was getting a sense of how far I would be willing to move to.

Agents told me that they had even been selling some properties with no viewings (as in people just buying from looking at photos) – it’s not something I would contemplate doing.

Alas, with demand far exceeding supply, I’m competing against families looking for a decent 3-bed semi-detached, with a nice garden in a nice location. Lockdown has changed the priorities and perspectives for many, although such properties have always been in demand, the current boom is exacerbating things somewhat.

I’ve been thankful that I’m working from home so I’ve been able to block out my calendar for 40 mins and nip out for viewings in the afternoon; this task would have been virtually impossible had I been in the office, with only evenings or weekends available.

Rush Hour

I know I shouldn’t rush my decision in buying a house, but I feel like I’m caught up in very fast moving times and if I don’t move at the same speed, I will miss an opportunity and in this current climate, there aren’t that many to begin with. And of course, property prices continue to march ever upwards.

via GIPHY

Don’t get me wrong, I’m in a much better place than I was a couple of months back when my head was in a complete spin and I couldn’t think straight.

I have a plan, I’m progressing with it, I feel like I’m getting back in control.

When I see a house I really like, I will make an offer – I don’t feel like I have the luxury to dilly-dally or drag things out.

Anyway, I have a viewing lined up this weekend and another next week, so fingers crossed I will find somewhere soon, somewhere which ticks most of my boxes.

I’m resigned to the fact that I probably won’t find my perfect ‘dream home’, but whatever I find, I hope to just make it ‘my home’.

Wish me luck!

Seven-Year Itch

[From Wikipedia] “The seven-year itch is a popular belief, sometimes quoted as having psychological backing, that happiness in a marriage or long-term romantic relationship declines after around seven years.”

I’m not married, nor currently in a long-term romantic relationship so the itch in my case must refer to my relationship with my blog, which last month unbelievably turned seven years old!

Happy 7th birthday to Quietly Saving! 🙂

So has my happiness (and enthusiasm) declined after 7 years of writing and sharing mutterings about my FIRE journey?

I would say no, not yet anyway!

Seven Year Slog

Let me just start by saying that whilst it hasn’t been particularly difficult, it hasn’t been a breeze aiming for FIRE all these years because it still takes me effort to stay focused, to stay on this path I have chosen.

There are occasions when I feel like I can’t be bothered any more, although perhaps lockdown/the pandemic has probably put these thoughts in my head – my life seemed so much easier when I was just merrily drifting aimlessly with no set goals. But that way points to regret and I would rather not have any regrets.

Whilst I’m no longer the younger me who used to just spend money like there was no tomorrow, if I don’t maintain focus, laziness and apathy will make a reappearance in my life and costs will spiral until I’m no longer saving and investing as much as I am able to towards my future.

Anyway, aiming for FIRE is a long-term slog and the only thing that really keeps me from straying off the path is this blog and the words of support from the readers who take the time to stop by and who inadvertently make me accountable for my actions with their comments and emails.

What have I been doing these past 7 years? Continue reading

FIRE, hit for Six?

With all that’s going on in the world, a milestone nearly passed by without me realising – what a time to be celebrating six years of blogging!

Happy 6th birthday to Quietly Saving! 🙂

It’s seems weird to be writing about achievements right now, but this blog documents my own experiences, accomplishments, plans and goals, and serves as a personal journal for me to look back on.

Before I ramble on about the present however, let me just revisit the past…

What have I been doing these past 6 years? Continue reading

Bored Yet, after 5 Years?

Been seeing a few blog posts recently talking about how boring aiming for FIRE is, especially when things are on autopilot.

Spend less than you earn, invest the rest in index trackers, rinse and repeat until you reach your goal.  Blah blah blah, yawn.

Well, this month marks FIVE years since I started blogging about my journey to FIRE and I can’t say that I’m bored….yet.

Happy 5th birthday to Quietly Saving! 🙂

Neither am I bored with tracking my own progress – I started this blog as a personal journal just so that I know how I’m doing versus my goals.

Perhaps one reason for not being bored is because not everything is on autopilot for me – my expenses can vary each month, depending on time of year, my holidays and my social life. I do consciously have to think about my spending, otherwise it could easily go out of control. By ‘out of control’, I don’t mean going into debt (I don’t want to go there again!) but by not saving/investing as much as I can and should. Writing about my investing ‘experiments’ (eg Dogs of the FTSE) also keeps me interested in my investments, when the majority of it is in ‘boring’ passive index trackers.

Another reason is that I still mostly enjoy updating my blog. I don’t think blogging has gotten any easier over the years but I’m still able to make time for it so it’s a hobby I enjoy doing.

What have I been doing all this time? Continue reading