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To sell sooner or later?
skintlass
Posts: 1,326 Forumite
Hi,
I'm looking to sell my house in about a year and then rent for maybe 6 months before I buy. Is this a good idea? I live in Leeds and currently property prices still seem quite high here. I hate the idea that I'll get caught out when property prices drop.
I'm looking to sell my house in about a year and then rent for maybe 6 months before I buy. Is this a good idea? I live in Leeds and currently property prices still seem quite high here. I hate the idea that I'll get caught out when property prices drop.
Never let your sucesses go to your head and never let your failures go to your heart.:beer:
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Comments
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I'm not sure you need to worry about being caught out when property prices drop (if they do) the place you move to will also have dropped in price.
However, if prices are falling you might struggle to find a buyer - making moving more difficult and if you hit negative equity you would have to sweet talk your mortgage lender into lending more than the value of where you were moving to....assuming they would
I wouldn't sell to try and time the market especially if you are only talking of being out of the market for 6 months.0 -
Thanks - there are a lot of doom and gloom merchants when it comes to property prices where I work so it is nice to have a balanced view.Never let your sucesses go to your head and never let your failures go to your heart.:beer:0
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skintlass wrote:Hi,
I'm looking to sell my house in about a year and then rent for maybe 6 months before I buy. Is this a good idea? I live in Leeds and currently property prices still seem quite high here. I hate the idea that I'll get caught out when property prices drop.
Six months seems an awfully short time for any property price crash to take effect.
And if anyone claims to know whether selling a year from now and buying eighteen months from now will be a financial advantage, then they're probably speaking out of their ... you get the picture.0
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