Selling house so soon

Shanxoxo

I bought my property 1 month ago, it was a big move and I regret it more than anything. I am so far away from family and I can’t stand to be here any longer, the area isn’t bad in itself but I’m so lonely. What can I do? I’ve read that you have to live in a property for 6 months before you can sell it again, which I don’t know if it’s the truth:( I was a first time naive buyer that jumped at the first opportunity and I really want out ( i was a cash buyer so don’t need to worry about remortgaging) but any advice on what I can do would be appreciated thank you

eddddy

Shanxoxo wrote: »

I’ve read that you have to live in a property for 6 months before you can sell it again, which I don’t know if it’s the truth

It's kind-of true.

If the person you sell to needs a mortgage, most lenders won't give a mortgage where the previous owner (you) has owned the property for less than 6 months.


But if you sell to a cash buyer, there is no problem - you could sell tomorrow.

(You mention that you bought for cash - is the property mortgageable?)

Grezz24

have you tried joining any local clubs to try make friends in the area, this will at least help you while you look to move back closer to family.

Its not going to be an overnight process so you do need some support (there are literally clubs for anything these days and they are more than welcoming to new members)

SG27

eddddy wrote: »

It's kind-of true.

If the person you sell to needs a mortgage, most lenders won't give a mortgage where the previous owner (you) has owned the property for less than 6 months.


But if you sell to a cash buyer, there is no problem - you could sell tomorrow.

(You mention that you bought for cash - is the property mortgageable?)

But as selling a house takes a long time there is a good chance you will have owned for 6 months by the time you complete.

You could also stipulate to any potential buyer that completion must be after a certain date.

Robin9

Grezz24 wrote: »

have you tried joining any local clubs to try make friends in the area,(there are literally clubs for anything these days and they are more than welcoming to new members)

It's the Autumn so all the clubs that closed down for the Summer are just starting up again.

Raid your local library and look at the notice boards, look at the village/community halls and see whats going on.

PasturesNew

If you don't stay and work through your loneliness, then any place you move to will have the same issues, or you'll be haunted by this one.

Why not stick with it for 1-2 years and become independent ... you need to learn to enjoy your own company.

Relying on other people for your happiness is ultimately doomed ... so it is something you will need to conquer at some point as fewer people have the luxury of having "people on tap" these days.

xylophone

Ask old friends/family members to stay for a weekend?

Are you employed? Invite a colleague for a meal?

Do you have a garden? If so, join a local gardening club?

It is natural to feel overwhelmed when starting a new venture. Give yourself time.

cloo

As you say, it was a big move. And an expensive one - I do agree that being proactive about your situation might be a better solution than selling up. A month is not a long time and I can understand that you don't feel settled and you feel wrenched away from your contacts. Honestly, I'd give yourself another 6 months at least and if you have tried to improve things but still feel miserable then I'd consider moving, or perhaps renting the property out if you are able and trying somewhere else.

Bossypants

Why did you move so far in the first place? There must have been something that attracted you which you couldn't find where you were?

Speaking from experience, I would say it takes a good 6-12 months for a brand new town to start to feel like 'home', and the lineliness in between is more extreme if you're on your own. Still, I think if you push through it and make and effort to settle yourself at least until the spring, there's a good chance you'll find yourself warming to it. Even if you don't, by then you'll have a bigger pool of potential buyers, as you'll be over the 6 month hump.

macman

If you feel the need to get out quickly, then renting it out for an initial 6m term is really your only option.
But you are being much too hasty. Most of us wouldn't have even finished unpacking in 4 weeks!
And you may find that the stress of being an involuntary LL is worse than your loneliness.