Renting long term.

shamac

Currently in 1 bed rented (from BIL) flat with 2 kids so not great-sofa beds aagggghh-too much late night telly watching going on. Anyway, we are going to let our family home long term (too far from work/family to live in) and look for somewhere else.

What we would ideally like to do is rent somewhere with a view to eventually buying it-so we only have to move once-kids have had 4 different homes in 6 years and they need stability. We also thought this would be an ideal way of doing try before you buy! Several nice houses in the area have been for sale and are now for rent so guess people have just given up trying to sell-pretty stagnant round here. Do you think we should tell people this is what we are looking for or just rent for a while and then ask if they will sell it to us? Anyone see any huge pitfalls in this-other than that they might say its not for sale!!??

kunekune

I don't think there's any need to say much. You could just say that you are renting because you don't want to buy for a year or two, and leave it at that. Tbh, we have twice thought on moving in that we'd end up buying somewhere and both times, things have happened to make us change our mind! You don't want to tie yourself into an option, as prices could very well still go down, and a LL isn't going to commit to a longer tenancy just because you might buy later. I'd go for your idea of staying put and only suggesting it once you're well settled and know it's a good place.

franklee

I'd just rent it and say nothing about buying yet, then see how you feel later on. It's a good idea as your tenancy will lock the property out of the sales market for most of the fixed term allowing prices to go down. Also it stops other tenants wrecking the place and you get to try before you buy. Don't forget to note all those niggly repairs that can be used to bargain on the price if the time comes. Course you may not get to buy but then any sale can fall though so it's a chance any buyer takes.