received an offer, we can't find anywhere. Should we rent or turn down

Better_Days

I think it makes good sense to go into rental in the current market. We got a good offer for our property which we would be mad to turn down. Part of the reason for the good offer is that we are going into rented and so breaking the chain.

We do have 2 cats and 2 dogs so it will restrict us in finding a rental, but we will do what we can to make us an attractive prospect as possible to potential LL's.

Overall, going into rental is so much less stressful than trying to do everything on the same day. I bought a lot of those boxes with plastic lids when they were on special offer and used them to declutter. The cunning plan is to work slowly through them while we are in the rental to determine what can be sold/freecycled/given to charity etc

And if the chain does break, then it will be a pain, but my solicitor is working on a no sale, no fee basis and I wont have lost out on a property that I was hoping to purchase.

As others have already pointed out, taking this route also means that you are in an excellent position when you do find the property that you want. When I sell this house and buy the next one, I hope to overlap with the rental so that there is not the mad dash on a Friday afternoon.

When we were initially thinking about selling up we said that we didn't want to go into rental as it meant moving twice. But once we got used to the idea, there are lots of advantages, and soooo much less stressful.

GL with your sale OP.

franklee

kidmugsy wrote: »

If you can rent in the area where you'd prefer eventually to buy, you'll have a chance to learn whether that really is where you want to settle. That could be invaluable information.

I rented where I'd always fancied living and found I don't like it that much and would rather move back. While I've been here several houses have been purchased and then sold again, the larger with the price going up, the smaller down and some taking ages to shift. Not to mention stamp duty etc.

That won't worry the OP if he knows what he wants to buy, OTOH if it's not available he would not want to miss an ideal opportunity that comes up after he loses his buyer. I'd say rent apart from the pets which looking at ads might be a hassle but I'd always ask the agent or landlord regardless of what the ad says in case the wording is just routine.

phoebe1989seb

We contemplated going into rented when we accepted a proceedable offer on our house unexpectedly quickly (within the first two weeks of marketing) last year. Like many of the posters on this thread we had (three) cats to think about. We were also looking to move 150-200 miles and having already moved 150 miles three years previously at a cost of £4000+ (for removals), we were reluctant to face having to shell out a similar amount to move into rented, then a further sum later on when we found somewhere to buy. Not only that but it was unlikely we'd have found somewhere with enough space for all our stuff......and yes, we did declutter and get rid of lots......which would have meant shelling out more for storage. Then there was our hot tub - which our buyers weren't interested in purchasing, so it had to come with us

In the end, despite having a very, very strict criteria list (and pulling out of two previous purchases along the way), at the eleventh hour we managed to find what we were looking to buy - an unmortgageable semi-derelict 'project' character house to restore - during the conveyancing process, which we managed to tie in with our sale.

So, to the OP - I wouldn't give up on hoping the *right* house will come along - if you search hard it just might, but if you are happy to go down the rented route and feel it could work for you, then give it a try