what to do, sell then buy, what if theres nothing?

confusedhouseowner

thanks, we don't have family with anything large enough to put up a family of 4 and then theres all our possessions, haven't priced storage and I wouldn't know where to start.
is renting not an expensive route to go down and like having to move twice. Has anyone done this?
Starting to look like we need to stay put :-(

lou_to_you

Hi all, this has happened to me so many times!!...we have had three offers on our house over the past 10 years, but each time have missed out on what we wanted to buy!!.We live in a desirable area and are desperate to stay ,but feel that time is passing us by as we are now in our forties ,and wanting to pay off the mortgage ,not prolong it. But the house we are in has never felt like home and I dread the thought of being here forever!!....we have 4 teenagers now and just need more space, but I can never ever see it happening, as I am so jittery over it ,think the big mortgage thought scares the life out of me ,as we would have to increase by about £50,000 !!...and when we have lost sales on ours ,I am secretly relieved because of the thought of the big mortgage!!...but then back to hating the house again!!...really in a catch 22 !!....and could never rent as that is just too much of a wrench to a jitterbug like me !!!!

nubbins

Your brave, what if your forever house that was say 300k last summer comes on the market for 350k, can you save more than the prices could rise?

Pixie5740

That would be quite a price hike in 1 year but I suppose it depends how desirable the area you want to buy in is.

r_holmes22

Aye; we have recently moved in with family while we wait for our 'forever home' to become available. That's six of us crammed into a three-bedroom ex-council house. Still; this would have been the norm two or three generations ago. We didn't really have an option, as our own house had been on the market for fourteen months before an even remotely feasible offer was received. We would almost certainly not have sold it for anywhere near what we need within x months of 'securing' our next place.

Our furniture and non-essential belongings are in storage at £200 per month (including obligatory insurance); we needed a 150sqft unit. I don't know how this compares with prices in Scotland. I think I used http://www.comparethestorage.com/ in the first instance but I didn't just go with the cheapest, as ease of access, peace of mind, and security were all important to me.

It's swings and roundabouts being crammed in with family, but it does mean our deposit grows more rapidly each month and it hopefully puts us in a strong position when the right place comes to market.

It does sound as though you are in a tough position, though, if there genuinely is nobody you can lodge with in the interim. I can't really offer any more useful advice. Renting is the only other option I'm aware of but, as others have pointed out, has many pitfalls. It wasn't really a suitable option for us, either.

moneysaver

We have just sold in Scotland. Moving on Tues, we had a long entry date & started looking after we accepted an offer. The offer can still be withdrawn very late in to the proceedings, we only finalized on Monday.:)

We had a slight hiccup regarding work carried out to the house we are buying. It is all sorted now so moving in a few days.

I would never take a chance & buy first in today's market, sell first then start looking.

Moneysaver

nubbins

Pixie5740 wrote: »

That would be quite a price hike in 1 year but I suppose it depends how desirable the area you want to buy in is.

It could work the other way but someone I know put an offer (and got accepted) for 290 or 300k (can't remember) Jan 2014, it all went pear shaped and that house was back on the market Sept for 350ish I think. Obviously the properties really shot up during that period but my point is that the whilst renting the market can move away from you very quickly.

Running_Horse

We are toying with moving in a few years to a desirable area where the right house only comes along once in a while. Due to schools there would also be a limited time window.

I have this crazy idea of buying a BTL now, and renting it out until we are ready to move and sell our current house at our leisure. There are probably a hundred reasons not to do it, but it does sound more attractive than the stresses of selling and buying in a chain with time limits.

RockTheShack

moneysaver wrote: »

We have just sold in Scotland. Moving on Tues, we had a long entry date & started looking after we accepted an offer. The offer can still be withdrawn very late in to the proceedings, we only finalized on Monday.:)

We had a slight hiccup regarding work carried out to the house we are buying. It is all sorted now so moving in a few days.

I would never take a chance & buy first in today's market, sell first then start looking.

Moneysaver

We're about to go on the market in Scotland with nowhere to buy yet so hoping to find a buyer who will accept a long entry date, whats considered an acceptable period of time for a long entry date? Really stressed as hardly anything is coming up to buy, but when it does we don't want to lose out.