Does anyone want to join me waiting to find a house to buy?

lessonlearned

I will join in too. I have been looking on and off for about a year but so far nothing has really set pulse racing. :rotfl:

ancientofdays

I don't necessarily need my pulse to race, just not have all the blood in my body sink to my boots when I look at something.

smile88egc

Could do with some advice. My partner and I have been saving a deposit for almost 4 years, both have help to buy ISAs, and the current interest climate is making it look very appealing to buy right now, we could afford a 15-20% deposit for the kind of first home we'd like.

However......my job moves me about all over the south-west of England, and will do for another 6 years at least. It is likely that in 6 months I will be moved to an area I don't know at all,but we are getting increasingly frustrated with paying someone elses mortgage instead of our own. I usually get to stay in one location for a year, sometimes 18 months, and typically get 6 months notice before I'm moved.

Is it worth trying to buy in an area we don't know well? Is it too much to hope that a lender would give consent to let if we had to move again 12-18 months after we buy? Or should we resign ourselves to another few years or renting and keep on saving?
Thanks for any advice.

Sue_S

Really want to move to Cromer on the North Norfolk coast but can't find anything suitable. Having said that, ours is on the market and not shifting so we're not in a position to offer anyway... Just seems like life is on hold at the moment!

copperjar

Much soul searching today after yesterday's viewings.

House 2 in prefered location is just too small. It's lovely and perfect in every other way but our main reason for moving is more space. So it feels more like a short term move and I'm not sure I can cope with all this again any time soon. Ans I definitely can't cope with the £6k stamp duty, solicitor and EA fees!

House 1 still a possibility but the location just isn't where we want. Its a big compromise for me but if could get at a good price might still be semi interested. But it's certainly not getting the heart racing so deep down I think I know it's probably not right either.

I have made one decision though. Our buyers said they are happy to wait a couple of months until we find somewhere and I've been stressing about the self imposed timescale. Now I'm thinking if we don't find somewhere I'm happy say they will need to wait longer, even if that means our buyers pull out. It's a lovely house and I'm pretty sure would sell (sold within a day this time) so I don't want to move somewhere that is not right. Prices continue to rise and our buyers actually have a good deal!

copperjar

smile88egc wrote: »

Could do with some advice. My partner and I have been saving a deposit for almost 4 years, both have help to buy ISAs, and the current interest climate is making it look very appealing to buy right now, we could afford a 15-20% deposit for the kind of first home we'd like.

However......my job moves me about all over the south-west of England, and will do for another 6 years at least. It is likely that in 6 months I will be moved to an area I don't know at all,but we are getting increasingly frustrated with paying someone elses mortgage instead of our own. I usually get to stay in one location for a year, sometimes 18 months, and typically get 6 months notice before I'm moved.

Is it worth trying to buy in an area we don't know well? Is it too much to hope that a lender would give consent to let if we had to move again 12-18 months after we buy? Or should we resign ourselves to another few years or renting and keep on saving?
Thanks for any advice.

If you're in a position to, I'd say in your location it would be good to go for it. Prices will only keep going up, so you don't want in 6 years time to have priced yourself out. Having said that, you'll probably need some advice from a financial advisor or mortgage broker about your options.

copperjar

ancientofdays wrote: »

I don't necessarily need my pulse to race, just not have all the blood in my body sink to my boots when I look at something.

Haha, that's what I'm thinking! I'm being so open with the possibilities - old, new, perfect, refurb. I just want it to be something I quite like in an area I quite like!

Kitten868

We are moving because I can't keep going with all these 10 ton fire doors and steep concrete stairs with two babies. So my standards are not high. Most places we have looked at don't have central heating and are in awful condition. Needs a new bathroom and kitchen is an understatement. So it's all the more frustrating that we can't get any where. Hubby thinks it's because I won't pay £30k more than the neighbour did in may. I don't think that's unreasonable. But there you have it.
Fingers crossed I get good news about the repo tomorrow.
Our buyer has given notice on their flat. It's all getting a bit scary. Plus hubby is forces and back at work so no more time for viewings.
Good luck x

smile88egc

Thanks for your thoughts copperjar.
Anyone else have any other perspectives?

Kitten868

Smile88 you don't have long term plans and you like the career so I would keep renting. I don't think you'd want a long commute and selling every 2 years is really expensive with stamp duty and solicitors and ea fees every time. So you'd probably eat your deposit up within 3 purchases. X