What's is the best property to buy (for 9 month period)

AnotherJoe

ellie27 wrote: »

I think it would be absolute madness to buy a house with the plan to sell on again in 9 months or so!

I would pull out of the sale or continue with the sale and go into rented accommodation. We went into rented for 8 months until we found out 'perfect' house.

The costs involved in buying/selling really would outweigh any profit (if any!) in 9 months.

You forgot the £30k mortgage ERC the OP is locked into.

teddysmum

You say the current house was hard to sell, but three months on the market isn't a long time, especially as Christmas came in the middle of that time.


Not everyone wants large garden, in fact they don't even get the option with newbuild handkerchief sized plots. A four bed with small garden would suit a family with adult children, working and not having time/inclination for gardening.


Buying and selling within a year is a big risk, especially as you are not keen on the two alternatives, which prospective buyers may also feel the same about.


I'd stay put.

spendingmad

Well after a stressful few days it turns out I got the early redemption fee completely wrong and it is no where near £30k, and closer to 5k still a lot of money to lose but we can rent and be in a strong position where we see something we like.

Feel like a bit of a dim-wit!!

teddysmum

Further to my comment above:


A local builder erected a large house, which would look well in a large garden, on a small plot (hardly any garden at the rear and none at the front) an the junction of two main roads and the house sold very quickly. He is now building two , similar, on adjacent plots, so there must be a market for such.


There is not a property shortage in the area, so people must want living space with no garden to deal with.