Selling and then renting until you find ‘the one’ ?

staffie1

DayDreamerandGeneralWaster said:

Hmm. I wouldn't. The market might go down but how do you know you will find what you like then? What if you aren't in a position to buy because your circumstances change? Someone on here did this in 2007 and find themselves still renting (sorry l can't remember their username). You should consider all possibilities. 

I agree. I’m just looking for the right place - no point trying to time the market.

OldMusicGuy

We have just done this. Sold our place last year, moved into rental in October 2019 and have moved this week into our new house. We planned to be in rental for 6 months but due to our first choice of new place falling through and COVID, we were in for a full year. It worked well for us and gave us flexibility in both selling and buying.

Renting isn't cheap, so you need to factor in the costs. It does mean you move twice, which is stressful, but it does mean you can keep the rental after you complete on your new place if you want to do some decorating before you move in, which suited us. We bought a new build and wanted to decorate a few rooms and do various other things before we moved in and that worked out really well.

Like another poster said, don't worry too much about the style/decor of the rental place but do worry about the location. Get somewhere nice to live while you are in rental because you will probably be there longer than you intend. We were in a lovely village with all the amenities we needed within walking distance which turned out to be great during lockdown! 

housemovehelp

DayDreamerandGeneralWaster said:

Hmm. I wouldn't. The market might go down but how do you know you will find what you like then? What if you aren't in a position to buy because your circumstances change? Someone on here did this in 2007 and find themselves still renting (sorry l can't remember their username). You should consider all possibilities. 

I don’t mind waiting . In no rush . But husband hates where we are now to the point it effects him mentally sometimes (I don’t think it’s really that bad but...)
we are lucky (or unlucky as the money came from an unexpected death of a parent) that we have over 50% deposit of our budget . I’d just rather be free to wait and not be in a chain 

que-sera-sera_2

We did it. Never again! 

TheProfessional

I guess it depends on the area. If we had done it for any long period of time in our area we would possibly be missing out on a rise in our own house price and then having to find more for the next house. All whilst paying rent.

I guess a couple of months would be grand

housemovehelp

TheProfessional said:

I guess it depends on the area. If we had done it for any long period of time in our area we would possibly be missing out on a rise in our own house price and then having to find more for the next house. All whilst paying rent.

I guess a couple of months would be grand

I don’t think ours will rise. We’re probably at the point of breaking even on it tbh . 

Thrugelmir

Have you actually sold your property? If not, might as well sit tight. Then start the process again in the New Year. Be a lot more property on the market come spring. 

housemovehelp

Thrugelmir said:

Have you actually sold your property? If not, might as well sit tight. Then start the process again in the New Year. Be a lot more property on the market come spring. 

No but the plan is to sell them rent until we find something suitable 

jimbog

I did this about 10 years ago in order to get ‘the one’ in a desirable area. It worked out well but rented for 18 months which was longer than was anticipated. Be prepared to get twitchy as the months slip by while you wait!

manc_doc

We're doing this, moved into rental this week. Should be completing on our sale in the next couple of weeks.

We have actually found somewhere to buy, but as we were relocating it made more sense to move to secure school places etc. while we wait for the purchase.

As others have said, it is more expensive and two moves, but for us less stressful and we get the benefit of the new area sooner. We also plan to do work on our new property before we more in.

Just to note that we've had to get a 12 month let as a lot of competition, but it fortunately has a break clause from 6 months.