To those selling in these difficult times Part Deux. AKA sellers support network!

tyllwyd

Cazzr wrote: »

Thanks guys. I guess I have mixed emotions about moving, more related to the disruption involved especially with a young child just about to start school.. I'm not tremendously worried about prices going up...

Think we'll leave it on the market for now and see what happens.

That seems like a good plan to me. If you get an offer in the summer, it might be autumn by the time you actually move into a rented house. So a six-month tenancy would run out in, say, April-June, and you'd then have a tenancy with a one-month notice period. If you found a house to buy in early spring, it will take a few months for that sale to go through, so you might be able to move straight from your rented house into the house you've bought in the new area. (Assuming it all goes to plan, of course!)

roseland69

We have sold and are renting - mainly because the place we moved to is pretty rural so there wasn't a huge selection of places to choose from. Couldn't see a property we really wanted to buy at the time so are renting for a bit until we do. Just over 6 months (have just renewed for another 6 months). Agents are great - we could have just gone on a rolling agreement after the 6 months had we wanted but we thought we'd go for another 6 months and wait and see what happens/comes up. We have a son and he is in the local primary school. We will be buying in this area so the school doens't change so in that respect it wasn't a problem.

I was initially worried about the "moving twice" thing but in reality its been fine. All our stuff is in the rental house and the overflow in the garage in boxes. But its fine. Our sale took over 6 months to go through when we did sell. So the way I see it, just because we are renting now makes no odds. If we do see a place we love next week, we can still make and offer etc because by the time all the long winded conveyancing etc is done it will be around 3 or 4 months in anyway. The only other worry was "what if house prices shoot up while we rent". But to be honest they haven't. If anything they have stagnated to fallen a bit so that isn't a worry and looking forward its not a worry either as the way the economy is looking. More of the same stagnant market I think.

But as a short term fix there's no harm in renting after selling before buying again in a market like today's. What first look like big issues tend to slot into place, i.e the schooling for example.

Renting is also a good way to see if you like and area or position in a neighbourhood. For instance, where our rental is is too close to the motorway. It doesn't look so bad on a map, but when the wind blows in a certain direction you can really hear it. Its not all the time, but normally on the sunny warm days when you want to be outside. That's told us were we don't want to be in this part of the village for example. Had we bought in this particular spot I would have been a bit cross about it. But now we know.

Finally it also give you a massive bargaining chip when you do come to buy. Many people put in offers before their own place is sold and these sales have high risks of falling through these days from what I've seen. So if you can go to an agent/seller and say you have the cash and the mortgage offer in place with no chain its a bonus and could give you leeway on negotiating.

EDIT TO ADD: The one proviso on all of this is if you do sell and rent before buying again, make sure you take advice on what to do with the equity money (if any) you get from your sale. Banks have a £50K insurance scheme. So if you have over £50K equity, split it up and put it into different banking groups. Just in case something bad happens with the banks again in the future...

lillyboo

Hi all,

I've come to join you after lurking for sometime and never having a minute to introduce myself!

Our house has been on the market for 3 months now with 6 viewings - 2, tyre kickers - I think having a nosey at our extension to probably put something similar on their own houses! These 2 fell of the face of the earth and couldnt be contacted by the Estate agents after their viewings! 1 of these was a strange viewing too as the husband looked up our chimney, behind the radiators, down the plug holes and then got down on his hands and knees in the bedroom to knock on the stripped floorboards !!!!!!!!!!!!!!!!!!!

1 totally overkeen - wanted to come back and have a look when her sister was free and then must have fell into a black hole! lol

2 decided they dont like cul-de-sacs and want to live on a main road and finally 1 who said our garden wasnt big enought for her 4 cats!!

However, as you all know the show must go on! I have just had a phone call for FTB's to view Friday morning and the house we would love to buy but had sold last month has just fell through and is now available again, so fingers crossed for the viewers liking ours!!

Now onto extreme tidying up, barring the 3 kids from each room as it is done untill they are only allowed in the hall lol and hiding various items from viewers, which completely annoys my husband to death so has turned into quite an amusing chore

sending you all good luck for viewers and offers and its great news on the offer Az, hope it all goes smoothly for you!

Cazzr

Roseland69: We always planned to sell and rent but originally wanted to sell and rent in the new area whereas looks like we'd have to sell and rent where we are now (trying not to disrupt son's 1st year of school) and then rent in new area before sitting back and waiting for the right place, so I guess 3 moves in all when we buy. My hope would be when we DO move areas to rent in the same area we want to buy to save disrupting schooling again.

Don't all these prospective buyers KNOW we need to get it all sorted for September!! LOL

tyllwyd

Unless your son is very sensitive and can't cope with change, personally I wouldn't worry too much about moving schools mid-term in the reception year - my girls didn't settle down and make strong friendships until the summer, at that age they think very short term. And in terms of what they are learning, its all very basic stuff so I don't think there would be that much difference moving between one school and another. At that age, I don't honestly think that waiting until the summer holidays will make that much difference, especially if it means lots of disruption moving home an extra time.

roseland69

Cazzr wrote: »

Roseland69: We always planned to sell and rent but originally wanted to sell and rent in the new area whereas looks like we'd have to sell and rent where we are now (trying not to disrupt son's 1st year of school) and then rent in new area before sitting back and waiting for the right place, so I guess 3 moves in all when we buy. My hope would be when we DO move areas to rent in the same area we want to buy to save disrupting schooling again.

Don't all these prospective buyers KNOW we need to get it all sorted for September!! LOL

So true. The schooling thing just adds so much more into the equation doesn't it! It is the main reason we left London. The primary school was okay... but the local high schools were very poor. We were in West London. Well off people seemed send their kids private when they get to high school age. We couldn't afford that so decided to move to give our son a better outlook and do it in time so that he could settle into a primary and make friends before he went to high school. Trying to find an area with schools we liked when it was a good hour and half drive to go and see the schools (before we sold) was a nightmare.

And yes, trying to fit it all around the school holidays was the worst. We had to move between Christmas and New Year at quite short notice (the buyer's mortgage offer ran out then so our hand was forced). She wanted us to move a week before they broke up before Xmas but I put my foot down as I wanted my son to at least say goodbye at the end of a term and to see the Christmas events happen (carol concert and things). Had to arrange the school in 4 weeks. We knew the school we wanted but having to find a rental and arrange the school in such quick succession was... interesting!!! :eek:

Cazzr

Hmm yes maybe I'm worrying about moving in the middle of term (heck we need viewers first, let alone a buyer) a bit too much. He's not overly sensitive but he is only 4 bless him and I guess I want to do the best for him, hence thinking about coming off the market to save moving houses too much..
Our plan is to move closer to family for more support so I guess he'd probably find it all exciting too. Hmm food for thought...

roseland69

Cazzr wrote: »

Hmm yes maybe I'm worrying about moving in the middle of term (heck we need viewers first, let alone a buyer) a bit too much. He's not overly sensitive but he is only 4 bless him and I guess I want to do the best for him, hence thinking about coming off the market to save moving houses too much..
Our plan is to move closer to family for more support so I guess he'd probably find it all exciting too. Hmm food for thought...

They are pretty adaptable at that age to be honest. My son was 8 when we moved and he was on the cusp of not being okay with it but has settled in to his new school okay and recently said how his new school is like his old school now (meaning he felt at home there). But around 4 and 5 I think their friendships can be rather transitory and they go with the flow. I do feel for you though. We put our place on the market in March last year and the offer came at the end of April. The summer holidays loomed large and I had sleepless nights. As it was the buyer was so sodding slow (until the end, when she was demanding we move immediately!) it was December before we finally moved!

Cazzr

Roseland, glad we planned to rent rather than to buy aswell. Think I would find it far too stressful to build a chain in this market what with a child, a horse and moving areas in mind... and potentially another squidge on the way (shh I didn't mention that)!

tyllwyd

Another thing to think about - in this area, children don't have to start school until the term when they are 5. I know of a couple of children who could have started school in September, but the parents made the decision to keep them out of school until January. Depending on the policy in your area, and his age, that might be easier for you?