Feeling deflated with house buying:(

lindsaygalaxy

After a lot of hard work we managed to get a dip. The market is pretty rubbish atm. Very few houses available and those that are go quick. Before the chnage in stamp duty 3bed semi's were around 240-250k. Since the change they have slowl crept up to around 275-295k!

After losing out on the first one we tried to get (35 offers in 24 hours, went for 30k over asking price) we tried again a month later. This one was on the market 3 weeks when we offered which is unusual around here. It was being sold by builders (large company) as part of a part exchange. After 2 viewings we decided to put an offer in. First one got refused after a week so we upped it by 5k and waited. 2 weeks later agency tells us the house builders have sold the house to someone else so the seller now has to sell it himself (not as a part exchange).
He has now put him on himslef through another agency for more money! We don't love it enough to pay even more but annoyed with the whole process and messing about.

There is now nothing to even look at. Please someone tell me it gets better! We have spent what feels like forever saving for the deposit and waiting to sort out credit files.

Landofwood

Where in the country are you?

Make sure you're checking Rightmove multiple times a day. The mobile app works well.

Search a wide area, for example 'Surrey' or 'Essex'.

Sort results in the app by recently added.

Call the agent as soon as you see a property you like. Build a rapport with them, get them to like you. Make sure you're the first person they call when a suitable property is coming on the market.

ognum

lindsaygalaxy wrote: »

After a lot of hard work we managed to get a dip. The market is pretty rubbish atm. Very few houses available and those that are go quick. Before the chnage in stamp duty 3bed semi's were around 240-250k. Since the change they have slowl crept up to around 275-295k!

After losing out on the first one we tried to get (35 offers in 24 hours, went for 30k over asking price) we tried again a month later. This one was on the market 3 weeks when we offered which is unusual around here. It was being sold by builders (large company) as part of a part exchange. After 2 viewings we decided to put an offer in. First one got refused after a week so we upped it by 5k and waited. 2 weeks later agency tells us the house builders have sold the house to someone else so the seller now has to sell it himself (not as a part exchange).
He has now put him on himslef through another agency for more money! We don't love it enough to pay even more but annoyed with the whole process and messing about.

There is now nothing to even look at. Please someone tell me it gets better! We have spent what feels like forever saving for the deposit and waiting to sort out credit files.

I don't think anyone can say it will get better, the only thing to say is stick with it!

jacko74

I'm also looking to buy and I'm also utterly dismayed and despondent at the complete lack of choice on the market at the moment.

I've got 3 search areas in 3 different parts of the country but there's just nothing at all other than overpriced dregs.

I've been casually keeping an eye on these search areas for a couple of years on Rightmove and have seen literally dozens of properties come and go that would have been ideal... but now I'm actually in a position to buy the market seems to have just completely died.

Is there any reason why there seems to be such a lack of properties coming on to the market at the moment?

ognum

jacko74 wrote: »

I'm also looking to buy and I'm also utterly dismayed and despondent at the complete lack of choice on the market at the moment.

I've got 3 search areas in 3 different parts of the country but there's just nothing at all other than overpriced dregs.

I've been casually keeping an eye on these search areas for a couple of years on Rightmove and have seen literally dozens of properties come and go that would have been ideal... but now I'm actually in a position to buy the market seems to have just completely died.

Is there any reason why there seems to be such a lack of properties coming on to the market at the moment?

is it really that nothing is coming to market or just that everything that is in any way decent is sold very quickly?

jacko74

ognum wrote: »

is it really that nothing is coming to market or just that everything that is in any way decent is sold very quickly?

I'd say it's more a case of nothing coming on to the market, the few that do come on aren't selling quickly anyway... they just join the ranks of overpriced dregs that have already been sat on the market for years!

ognum

that's interesting, in the area I live everything sells quickly even the rubbish!

I monitor Rightmove for my area and their are 10% more houses on this Month than last, hardly a spring bounce but at least a bit more.

pickles13

We had the same issue very recently. The house we eventually found, I just happened to be sat on right move as it popped up, so I called immediately.

TranceNRG

I understand your pain Lindsay. I was in a similar position - Had been looking for about 9 months and finally found a couple of properties that I liked and within my budget. The one I am in the process of buying was actually under offer with a different buyer before but the sale fell through and I acted very quickly (the day I received the call from the EA to say it's back on the market, I arranged a viewing and made an offer the next day to stop other people viewing the property and making offers)

As another poster said, contact EA and build rapport with them so they'll let you know as soon as a good property comes on to the market. You'll be surprised how many sales that fall through and come back on the market.

Just keep at it and something will come up eventually.

p1nky

We have been looking for 12+ months. Had several let downs along the way but are halfway through buying somewhere we love. All I can say is stick with it as others have. It's a horrible process, it IS stressful. But I'm sure it will all be worthwhile!

Hoploz

Me too, I know just what you're going through. We looked for about 2 years seriously. We had our buyer for over 6 months before we had an offer accepted (way above our original budget). We felt awful because there was literally NOTHING to look at for months on end. I read on here people say 'I pulled out as my seller couldn't be bothered even viewing any properties' and know its just not like that most of the time - people don't really get that far if they have no intention of moving. It's just really hard when you can't find anything, or as happened to us, two dream houses you try to buy get taken off the market.

But there will probably be good news in the end. We have been in our forever perfect home for 6 months now. We paid so much more than we wanted to but we don't care, we are just so happy to be here! (Hope interest rates stay low!)