I want to move now and sell up later

tin_cup_2

I've been wanting to move for ages as I suffer from depression/anxiety and feel my current environment is contributing to my illness, but find the hassle of the conventional moving process overwhelming.
As a solution to my moving problem I'm thinking about buying a new place and moving in, getting settled, then selling the old house when I feel ready.
I've seen some places I like on the coast for £130-£140K and what I'm hoping is that someone here would be kind enough to offer me some advice on what the best options would be for me to finance the move given my circumstances.
I'm 53 and my financial situation is; I own my house (value approx 170K, more if renovated ) and have assets of £100k (30K endowment maturing 2015 and the rest in cash, ISA's etc). My employment status is semi retired, I run a small micro company part time which grossed £25K last year and I receive an ill health pension of £1350 pm.
TIA
Tin cup.

DUTR

Do you have outstanding charges on the current property? If so that will affect whether and how much you may borrow to purchase the new place, if there is no mortgage outstanding on the current property, then there is little to stop you executing your plans.

dimbo61

Could you rent out your existing home ?
Does it need work in order to rent it ? Central heating safety check, EPC, electrics OK ?
Will it rent ? check with local letting agents ! and have a look at the local rental market!
You might want to rent for a period of time when you move to the coast as this gives you time to find an area you are happy to settle in

LeafGreen

How about initially renting to see how it goes and make sure you settle into the new area OK? Perhaps just a small/cheap place.

You could then sell your existing property and buy in the new area along whatever timescales you are comfortable with.

I'd say renting out your existing place would be best avoided if you are trying to avoid stress!