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selling an ex-local authority house
chris2003394
Posts: 3 Newbie
I am currently evaluating part exchanging my current house which is an ex-local authority house with a new build.
My contract ends in three years and so I might need to move elsewhere and sell my house in 3 years time.
My question is do you think selling an ex-local authority house will be harder compared to selling a new build.
Many Thanks in advance,
Chris
My contract ends in three years and so I might need to move elsewhere and sell my house in 3 years time.
My question is do you think selling an ex-local authority house will be harder compared to selling a new build.
Many Thanks in advance,
Chris
0
Comments
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No one can say for sure, bur if you don;t need to move, and will most likely be moving in 3yrs then its prob best to stay put. If you were to move to new build then the price you sell for in 3 years will be compared to price purchased today, which if the market doesn't recover may be less- no-one knows for sure. I'm not sure when you purchased the ec-local authority house, but if it was a few years ago, you may find it easier to sell in 3 years as you may have more equity and thus be more flexible on selling price. It all depends on market conditions, equity payments over 3 years, area, size of house etc. I don't think your going to get a straight answer on this one.0
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No it will not be harder. Why would it? Surely selling any house depends on a lot of factors. Location and location and erm.........location. ;-)0
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If you end up selling in 3 years I suspect you will be worse off buying the new build. I personally think 'secondhand' new builds are harder to sell, the people looking at your 3 year old new build will be comparing that with brand new builds and your price will have to be fairly competitive to make it worthwhile.0
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the people looking at your 3 year old new build will be comparing that with brand new builds and your price will have to be fairly competitive to make it worthwhile.
They will also be looking at 5-20 year old houses in the same area and wondering what it is about the 3 year old ones that makes them pricier!RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
What company is offering the part ex?
I thought the majority won't exchange ex local auth?0 -
Depends on the house.
If it is in the centre of a druggy council estate, with used needles and condoms all over the paths and a rabbit warren of a layout that leaves the car 200 yards from the front door, forget it.
If it is on a road in a decent neighbourhood, then it shouldn't be an issue.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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