Should we wait before moving? Advice please

Slimgimli

We have had our house on the Market since January. Was at £235 now at £215. Few viewings but nothing major. Ours is a 4 year old David Wilson house on a small (30) site in the village. D.W are now building a much bigger site on the edge of the village and we are up against these new builds!
We brought in 2007 for £235 so will already be losing money which is inevitable in this climate.
I suppose my main question is.... Should we just hang fire and wait until things get better altho then any house we want to buy will also be going up?

We want to move and down size to help reduce our mortgage (£97000) as well as then over pay so we can reduce the period left on mortgage (26 yrs)

But with the costs incurred moving and also as we haven't yet found a suitable house , am I wasting my time and money by wanting to move now and just stay put, overpay and wait.......
Sorry, wanted to make this co cise and easy to understand but am now babbling.
Anyway any advice, ideas etc greatly received as I am now a total compulsive right move geek and can't stop looking for our ideal 'smaller' home!

HELP:(

chambta

It's impossible to say. How much do you need to save outgoings? If that's the only reason you're doing it then are you not driven by the urgency to save?

neverdespairgirl

What are the new builds selling for, those the same sort of size as your house?

Slimgimli

neverdespairgirl wrote: »

What are the new builds selling for, those the same sort of size as your house?

Yep, same size and similar style plus other types. We are on at a bit less then they are asking but we live in a quiet cul de sac which isn't a building site for the next four years and is close to the centre of the village etc.
There is alot of trouble up there due to certain new tenants!! If you know the area then you wouldn't buy a house there, but of course most of the people who are buying are new to the village and only realise once they have paid up!

Barneysmom

Hmm, apart from money, why do you want to move.
You really wanted the house when you bought it, so why not stay where you are for a while and enjoy the place?

moneybunny123

I suppose the only thing you can do if you want to sell now (or soon) is make your home more appealing than a brand new one.

For example, does yours have a fireplace? The new ones wont.
Is your garden landscaped? The new ones wont be.

I would give it that "show home" appeal. De-clutter, wallpaper a few walls, deep clean your (hopefully, neutral) carpets, and really make your home appealing.

If it's then on at a similar price to the newbuilds, people will see that they're getting something extra by having yours.

Alternatively, offer a cash incentive on completion, or offer to pay the stamp duty.

Slimgimli

Wasn't the house we actually wanted!! Had sold ours, put a deposit down on another new house in the village being built by a small builder, but he then pulled out of selling it and decided to rent it out to family!! So we had to find somewhere quick! Couldn't rent due to animals etc so brought this one!! So has always been a compromise!
Have learnt our lesson tho and will only move if we find our near perfect house!