Brexit should not be your home purchase deal-breaker

It’s a familiar question: “Should I buy a different house before Brexit is a done deal or should I stay where I am now?”

There’s only one answer: “Of course you should move if that’s what you want to do.”

Too many people look at the investment value of a residential property they want to live in ahead of the real deal-breaker, and that’s whether or not it’s the house they see themselves spending a good number of years occupying.

If the latter’s the case, they are in it for the long game rather than some short term hedge betting as we see in the equities market where the vultures gather in the hope of an economic downturn after a specific event. And, as we all know, in the long term property prices invariably recover after a slump and that will be the case after Brexit if it brings a downturn.

When looked at logically, any downturn will also affect the property you live in now so the price to change will remain roughly the same and any difference will be made up very quickly. In fact if Brexit turns into a debacle, which we all hope it won’t whether we voted Leave or Remain, then the new home might be just the thing to put a gloss into 2019!

There’s no telling exactly when Brexit will be finalised but the transition is due to last at least until the end of 2020. Do you want to wait that long to decide? Probably not, particularly if you have seen the property that you feel is just right for you. Leave it 18 months and someone else will most likely be living in it and you’ll be in the doldrums for all the wrong reasons.

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