Recently moved - how long before we can move again?

newbie71_2

Hello everyone, sorry if this isn't in right place but this is my first posting! Anyway looking for a bit of advice.....

Came to view the house we are now living in in April 2006, knowing it had vacant possession from December 2006. At the time this was a great option for us as it meant we could put down a full 10% deposit and then have another six months saving up for solicitors fees, removal costs, stamp duty etc.

But after paying deposit and as the months went by our lives completely changed and me and husband both got new jobs so this house (which was very handy then for where we both worked) is now adding a good hour at least each way to our journeys to work and back, plus a few personal things have happened and other circumstances have changed which means the house is no longer the great buy for us it seemed last year, and as a result I don't feel settled at all.

The house is structurally sound and is really in need of some basic modernisation and redecoration - which could be done for a maximum of a £1000. The advice I need then is how long do people think we should wait before we move? Friends have said we should wait at least a couple of years if we are to make our money back and recoup our losses. Does anyone have any experience of this or any advice on what to do? Thank you,

clutton_2

if you are unhappy, move sooner rather than later - life is too short to be waiting for something like recoup some losses !!! i would certainly suggest doing the minor cosmetics first tho.

if EA/purchasers wonder why you are moving so soon - saying "family illness" is always a good generalisation that folks dont usually want to know more about - none of anyone else's business anyway.

missysx

or just explain that you want to move because of work.

newbie71_2

Thanks for this clutton - we're working every weekend to paint and get rid of the worst excesses of a house that looks like you've stepped back in time to 1972!

MegS

Check your mortgage first, if you are on any sort of deal (eg fixed for 2 years etc) then you will no doubt have to pay a redemption penalty for redeeming the mortgage.

spunkeyrich

Also I would invest some time in redecorating. it can take more than the cost of the redeoration off the house. In my time as an agent I had many people move really quick after buying for whatever reasons. You never know there might be some people with eyes on it from the last time it was marketed. I am sure you havnt lost any money but may not have gained much.

megs suggestion is good check it out , although you may be able to transffer your motgae to another home without getting a penalty.

1 get some valuations
2 get the elbow grease out
3 check mortgage

cheers

rich

Doozergirl

The 'recoup your losses' idea doesn't really work. Firstly, you spent that money, it's gone. Secondly, if this house increases in value, the next one will aswell. It doesn't matter which house you live in while you wait for the capital to grow.

You can, however, get the house as good as you can and maybe make up for some of the loss that way. That's possibly extra money you wouldn't have made had you never bought it and spruced it up.

It's important to be happy. Just move! Your reasons make perfect sense. No need to even embellish the truth.

newbie71_2

Hi everyone, thanks very much for all your positive advice. It is much appreciated! N x

Poppycat

I would sell a.s.a.p if your unhappy no need to be sad if you have the resources to help you move out. The market will be picking up soon so in next few weeks nows the time to get the house ready and get there before everyone else who wants to sell. Good luck