Looking to sell house after owning for 6months

K198914

Hi,

We bought our first house together last year, with a mortgage and 10% deposit from savings.

Problem is, although I have not moved a massive distance from my parents I would like to live closed to them and we have also decided to start a family sooner than planned. We would prefer a 3 bedroom house than the 2 bedroom we currently have.

We did have some issues with noise from the neighbours next door with music, but we spoke to them and they stopped (they were very good about it actually). We have also upgraded the electric box and soundproofed the party wall of the bedroom and hall with insulation to help with heat.

Are we best to put up for sale after a year? Or would it be best to part exchange for possibly a new build house? The house is great but I am so unhappy living there as I want something different and closed to my old home.

Has anyone sold their homes recently before a year of owning and came off no worse off financially than they were?

Really need advice.

Thank you

ConfusedofYorkshire

Moving is expensive aand depending on area the house probably hasn't increased in value so you may not sell for enough to cover moving.
As a buyer I've been put things that are being sold so quick, it looks odd. But if there is a genuine reason I'd consider

JimmyTheWig

I think that the majority of buyers will think that there is something wrong with the place. Either that there are some serious repairs that need doing or that there are issues with neighbours / anti-social activity / etc.
In which case it will either be hard to sell or you will have to take a reduced price.

Plus, of course, you'll be down on stamp duty, solicitors costs, estate agent fees, etc.

AnnieO1234

Ditto PPs I would be extremely put off and wonder why on earth someone had made such a huge commitment such a short time ago to then be going. You are possibly much better off looking at part-exing for speed anway.

X

K198914

Really appreciate all the replies. I understand it would look bad, certainly nothing wrong with the house and would be completely open with my reasoning for this.

I was thinking part exchange may be easier for us as it's more cost effective. I will certainly take your replies into account, I really appreciate it.

If anyone has done this please let me know how it went .

Thanks again.

Slayerx

Also if your in a fixed rate mortgage unless your port it to the new property you will likely have to pay ERC's.

K198914

I checked with our mortgage provider, we are able to move the mortgage with the fixed term to another house with no additional cost as long the house we get is a little more than what we have at the moment. There would be no other costs included and if we part exchange we do not need to pay the general costs included in selling a house. I'm just worried that I am digging a hole for myself and my Fiance. Or maybe there is something I am missing?

Thanks again.

JimmyTheWig

K198914 wrote: »

Really appreciate all the replies. I understand it would look bad, certainly nothing wrong with the house and would be completely open with my reasoning for this.

You can be as open as you like, but do you think people will believe you?

KatieJayne

I really wanted to reply to you because I've been in the exact same boat and it ended well (unlike the replies on here!).

We put our house up for sale 6 months after we bought it, and sold it and were in our new house 9 months after we bought it.

Reason for selling - the area. The area wasn't remotely bad, but it wasn't home. It never was and never would be. I'd been to the area for years and years to SHOP so I DID know it. Living there just isn't comparable!

I was so miserable I got very very ill. I'd put all my savings into this house so was pretty but in panic mode. I couldn't afford to buy in my home town - not a chance.

Anyway, three estate agents came round and all valued it 20k more than what we bought it for (we bought it from a guy who had moved in with his now wife. He had let it for about 5 years and had just had enough and wanted rid so that they could buy a boat!!). We sold it for 10k more than what we bought it for. This extra deposit allowed me to buy in my home town which I now live.

It cost us £1700 in estate agent fees. £500 in legal fees to sell. £800 in legal fees to buy plus £1560 in stamp duty. So its not cheap, but it IS do-able so please don't give up hope.

I know our situation was a bit lucky - i.e. by decorating the whole house we made £10,000 allowing us to buy where we wanted to, but I just really wanted to let you know that it has been done.

My buyer was not put off at all. She knew my reason for selling. She knew the area of the house I was selling and that was HER home town. My estate agents were also well aware and did a very good job of making this clear.

AnnieO1234

KatieJayne how long ago was this? Remember its very simple to find that info from zoopla and other property search sites now, without ever speaking to the seller to find out their reasons.

Xxx