Should i pull out of purchase? Don't know what to do.

[maria1]

Hi,
i put a refundable deposit on a 2nd hand house on the 8th of sept.Nothing has been signed yet because i was waiting on the budget in case they changed stamp duty.Unfortunetly they didn't and because of the wait we now lost our tracker that we had been approved for because bank of ireland cancelled it. Am really disappointed about that.
Now i'm really worried about buying the house,the asking price waas 680,000, we got them down to 610,000 in Sept. We are currently renting because we sold out house. I do really like the house but i'm terrified we are making the wrong decision and should wait. We are taking on a bigger mortgage than we had before.However we can't keep renting for years because you need to be able to put down your roots. Any advice would be grealy appreciated.

 

[extopia]

Hi,
i put a refundable deposit on a 2nd hand house on the 8th of sept.Nothing has been signed yet because i was waiting on the budget in case they changed stamp duty.Unfortunetly they didn't and because of the wait we now lost our tracker that we had been approved for because bank of ireland cancelled it. Am really disappointed about that.
Now i'm really worried about buying the house,the asking price waas 680,000, we got them down to 610,000 in Sept. We are currently renting because we sold out house. I do really like the house but i'm terrified we are making the wrong decision and should wait. We are taking on a bigger mortgage than we had before.However we can't keep renting for years because you need to be able to put down your roots. Any advice would be grealy appreciated.

It's simple: don't buy the house if (a) you can't afford it, or (b) you believe renting is cheaper in the short- to medium-term.