We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

When is too soon to sell and move after buying?

Charl1710
Charl1710 Posts: 3 Newbie
in House buying, renting & selling
We bought a one bedroom smallish flat last year, and although it's nice I'm starting to crave more room. We live in a reasonably nice area in South London, and in another year the flat is likely to have increased by around 50k in value since we bought it. It would cost around 18-19k to move, so we wouldn't lose money, but my partner feels that next year (as in, starting to search in summer 2015) too soon to move.

I'd love another bedroom and a garden in a cheaper area. Is it stupid to sell after 2 years?

Comments

  • KnightSmile
    KnightSmile Posts: 252 Forumite
    in a rising market then not really. I think you should go for it personally.
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    Charl1710 wrote: »
    We bought a one bedroom smallish flat last year, and although it's nice I'm starting to crave more room. We live in a reasonably nice area in South London, and in another year the flat is likely to have increased by around 50k in value since we bought it. It would cost around 18-19k to move, so we wouldn't lose money, but my partner feels that next year (as in, starting to search in summer 2015) too soon to move.

    I'd love another bedroom and a garden in a cheaper area. Is it stupid to sell after 2 years?

    Usually, yes.

    Aim for a 3 bed next time to give you room to grow without blowing £20k every couple of years.
    Trying to be a man is a waste of a woman
  • SG27
    SG27 Posts: 2,773 Forumite
    Problem is if yours has gone up £50k then 2 beds would have gone by even more. £80k for example.
  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    Your needs have no doubt changed in 2 years. Get on with looking for the next one!
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    ethank wrote: »
    Your needs have no doubt changed in 2 years. Get on with looking for the next one!

    It's barely 1 year.
    Trying to be a man is a waste of a woman
  • Charl1710
    Charl1710 Posts: 3 Newbie
    notanewuser wrote: »
    It's barely 1 year.

    It is at this point, but I'm asking if next year will be too soon rather than right now.
  • notanewuser
    notanewuser Posts: 8,499 Forumite
    Charl1710 wrote: »
    It is at this point, but I'm asking if next year will be too soon rather than right now.

    It neither is nor isn't. If you've the money to waste on buying properties that only meet your immediate needs, you're going to find yourself moving more frequently than somebody who bought with the future in mind.
    Trying to be a man is a waste of a woman
  • Dan-Dan
    Dan-Dan Posts: 5,279 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Charl1710 wrote: »
    We bought a one bedroom smallish flat last year, and although it's nice I'm starting to crave more room. We live in a reasonably nice area in South London, and in another year the flat is likely to have increased by around 50k in value since we bought it. It would cost around 18-19k to move, so we wouldn't lose money, but my partner feels that next year (as in, starting to search in summer 2015) too soon to move.

    I'd love another bedroom and a garden in a cheaper area. Is it stupid to sell after 2 years?

    So you expect to realise 30k equity after all fee`s taken into account?
    As long as your finances are good , then you can easily just sell and move to something larger , obviously that somethig larger will cost more , how much more will depend on what area you are planning to move to , wont just eb your pad thats increased in value :D
    Never, under any circumstances, take a sleeping pill and a laxative on the same night.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture