When to start looking ?

boxer234

I am in a fixed term rental until August 2022.  I started looks to buy last March but couldn’t find anything so stayed put.  I definitely need to buy next year as I’m not getting any younger.  When would you start looking I don’t really want an over lap of rent and mortgage but wouldn’t mind a month to move at my leisure.

  The rental agency refuse periodic agreements so I will be served a S21 in June I know I won’t have to leave immediately but July / August would be a good time to move if possible as I’m a teacher. 

Any thoughts ? I’ve seen a property advertised I like the look of it’s been on over a month.  There will be an onward chain but is it to early ? 

penners324

The rental agency can't refuse periodic tenancy, you automatically go on one when the fixed term ends.

You could be in the property for 12 months after the fixed terms ends even after a S21 is served.

You don't have to leave until a court orders you to.

penners324

From offer to completion on a property takes an average of 12 to 15 weeks, sometimes a lot longer

James_D

penners324 said:

From offer to completion on a property takes an average of 12 to 15 weeks, sometimes a lot longer

I've been wondering the same thing as the OP, do you think the fact that it's almost December, with the holidays / new year / general unproductivity that brings it could be an even longer wait? Ideally I'd rather not move until May/June, but am already looking.

boxer234

penners324 said:

The rental agency can't refuse periodic tenancy, you automatically go on one when the fixed term ends.

You could be in the property for 12 months after the fixed terms ends even after a S21 is served.

You don't have to leave until a court orders you to.

I know but I would find it so stressful he would only rent to someone else apparently the agency like to market the property in the summer.  Probably because it’s !!!!!! freezing in the winter.  I guess I can out stay my welcome a bit. 

boxer234

James_D said:

penners324 said:

From offer to completion on a property takes an average of 12 to 15 weeks, sometimes a lot longer

I've been wondering the same thing as the OP, do you think the fact that it's almost December, with the holidays / new year / general unproductivity that brings it could be an even longer wait? Ideally I'd rather not move until May/June, but am already looking.

It’s so hard not to have a little peep on right move isn’t it? I’m assuming nothing will happen over Xmas. 

Sacher50

My experience of moving from renting to buying is that getting things to line up just right isn't in your control, therefore it can't be your priority.

I would start looking now and put in an offer on this place if you like the look of it. If you have a few months overlap of both rent and mortgage it won't seem like such a big deal in the long term. Plus, you could always sublet your tenancy if you needed help funding both.

James_D

boxer234 said:

James_D said:

penners324 said:

From offer to completion on a property takes an average of 12 to 15 weeks, sometimes a lot longer

I've been wondering the same thing as the OP, do you think the fact that it's almost December, with the holidays / new year / general unproductivity that brings it could be an even longer wait? Ideally I'd rather not move until May/June, but am already looking.

It’s so hard not to have a little peep on right move isn’t it? I’m assuming nothing will happen over Xmas. 

I have a real problem, I'm out of control on the old Rightmove XD best of luck with your search / offers.

sheffield_soldier

We have been in a similar position, trying to tie buying with end of rental lease. 

Our lease is up in February. I said to the wife to start looking in October and we actually found our house that we are buying on the 14th October. We are expected to complete before Christmas. So that will leave us with 1 month rent to pay.

I guess it all depends on what you are buying and if you are in a chain. Mine is chain free (ish).

boxer234

sheffield_soldier said:

We have been in a similar position, trying to tie buying with end of rental lease. 

Our lease is up in February. I said to the wife to start looking in October and we actually found our house that we are buying on the 14th October. We are expected to complete before Christmas. So that will leave us with 1 month rent to pay.

I guess it all depends on what you are buying and if you are in a chain. Mine is chain free (ish).

That is really quick.  

sheffield_soldier

boxer234 said:

sheffield_soldier said:

We have been in a similar position, trying to tie buying with end of rental lease. 

Our lease is up in February. I said to the wife to start looking in October and we actually found our house that we are buying on the 14th October. We are expected to complete before Christmas. So that will leave us with 1 month rent to pay.

I guess it all depends on what you are buying and if you are in a chain. Mine is chain free (ish).

That is really quick.  

Quicker than we expected. 

It actually works out nice that we still have the house for a month after moving because we don't feel rushed. Only 2 mile away so can nip down to make sure everything is in shape for handing back.