Has anyone ever rented a property before selling their own

diystarter7

diystarter7 said:

Hi OP

We move to a property we bought to rent and left our furniture and stuff . Our house was never cluttered but we removed a few things to make it lokk like a nice, lived-in show house. Because it was summer, we did not need to keep the heating on but we used vist it several times a week on the way work or back and aired it to freshen it and fresh air. It sold very quickly for almost the asking price. As we moved our stuff it, the 31 floor lounger looked bare and not as appealing imo - but the advantage is it looks even bigger - we used to leave the bespoke 4 foor wide doulve door to the conservatory open and the light shone in - it sold quickly and could have sold for more than th asking price if we had sold to a person that was in a chain.


Personally we would not rent as what if it doent sell/etc/etc - we;d offer it chain free if in your shoes and once ready for exchange allow your self a few weeks to get into a rental, job done, chain free status.

Then there is luck 

Good luck

Hi again

I'd just like to add - if you want to be sure of moving within a few months, sell to a chain free buyer and do as I suggested, ie on exchange of contracts give yourself a few weeks to settle in a rental

Good luck

Snow_Angel

diystarter7 said:

diystarter7 said:

Hi OP

We move to a property we bought to rent and left our furniture and stuff . Our house was never cluttered but we removed a few things to make it lokk like a nice, lived-in show house. Because it was summer, we did not need to keep the heating on but we used vist it several times a week on the way work or back and aired it to freshen it and fresh air. It sold very quickly for almost the asking price. As we moved our stuff it, the 31 floor lounger looked bare and not as appealing imo - but the advantage is it looks even bigger - we used to leave the bespoke 4 foor wide doulve door to the conservatory open and the light shone in - it sold quickly and could have sold for more than th asking price if we had sold to a person that was in a chain.


Personally we would not rent as what if it doent sell/etc/etc - we;d offer it chain free if in your shoes and once ready for exchange allow your self a few weeks to get into a rental, job done, chain free status.

Then there is luck 

Good luck

Hi again

I'd just like to add - if you want to be sure of moving within a few months, sell to a chain free buyer and do as I suggested, ie on exchange of contracts give yourself a few weeks to settle in a rental

Good luck

I think the problem at the moment is that the rental market is crazy and you can't guarantee being lucky enough to find somewhere with just a few weeks. Especially if you have pets like me. It's much harder - another reason I'm thinking of renting before selling. For peace of mind really.

housebuyer143

Don't do it. It doesn't make the conveyancing quicker and you risk it being empty for months and months while you pay double for everything. 

You are better off telling all viewers there is no chain and move into rental as before completion.

Take it from someone who moved out and bought before selling their current house, it was very stressful and it didn't go to plan. It took a total of 10 months to sell it after it fell through and being chain free didn't make it go any faster.

Snow_Angel

housebuyer143 said:

Don't do it. It doesn't make the conveyancing quicker and you risk it being empty for months and months while you pay double for everything. 

You are better off telling all viewers there is no chain and move into rental as before completion.

Take it from someone who moved out and bought before selling their current house, it was very stressful and it didn't go to plan. It took a total of 10 months to sell it after it fell through and being chain free didn't make it go any faster.

Thanks. I guess I need to think 'worst case scenario' and make my decision based on that, rather than hoping for the best!

lookstraightahead

Whatever you choose, I think it makes it cheaper to break chains as you're in a much better bargaining position, especially in this market. I find it much less stressful to not be selling and buying at the same time. I've done both so find it easy to compare. It gives me a good reason to declutter. Staying in rented while you buy can give you a welcome overlap - you might even be able to get a couple of 'man and a van' rather than a huge removal van.

it's not for everyone. But neither is doing it all in one go. 

diystarter7

Snow_Angel said:

diystarter7 said:

diystarter7 said:

Hi OP

We move to a property we bought to rent and left our furniture and stuff . Our house was never cluttered but we removed a few things to make it lokk like a nice, lived-in show house. Because it was summer, we did not need to keep the heating on but we used vist it several times a week on the way work or back and aired it to freshen it and fresh air. It sold very quickly for almost the asking price. As we moved our stuff it, the 31 floor lounger looked bare and not as appealing imo - but the advantage is it looks even bigger - we used to leave the bespoke 4 foor wide doulve door to the conservatory open and the light shone in - it sold quickly and could have sold for more than th asking price if we had sold to a person that was in a chain.


Personally we would not rent as what if it doent sell/etc/etc - we;d offer it chain free if in your shoes and once ready for exchange allow your self a few weeks to get into a rental, job done, chain free status.

Then there is luck 

Good luck

Hi again

I'd just like to add - if you want to be sure of moving within a few months, sell to a chain free buyer and do as I suggested, ie on exchange of contracts give yourself a few weeks to settle in a rental

Good luck

I think the problem at the moment is that the rental market is crazy and you can't guarantee being lucky enough to find somewhere with just a few weeks. Especially if you have pets like me. It's much harder - another reason I'm thinking of renting before selling. For peace of mind really.

Hi

Yes, re pet, much more difficult. I don't no where you live but you know best what is where you want to rent.

For peace of mind, you sound like me but as I said, please be aware that  a sale can fall through at the last min and some buyers try it on and try to massively reduce offer at last min.

I'm sure you will manage to do what is best for you and your pets,

When one can afford a 'peace of mind' then go for it but think about how long you may end up renting, problems selling your place and then problems buying and a chance (unlikley) once you have sold and by the time you buy prices take off/etc due to more government led offers.

Good luck

Nebulous2

Not quite the same, but we bought a second home and used it as a holiday house initially. 

When the time came to move we moved out, tidied up the paint, emptied the loft, decluttered, got photos taken and put it on the market. It sold very well and I'm convinced having it empty helped. The rooms looked much better and bigger with much less in them.

There are some caveats though; we were already paying for both houses and could have continued to do so for a prolonged time, we are in Scotland where sales generally proceed much more quickly, and for personal reasons having people in to view while we were living there wouldn't have worked. 

hazyjo

I often find houses look smaller without furniture. People generally find it hard to visualise furniture and bed sizes, etc. If your home is cluttered, too personalised, or bursting at the seams, just pay for storage rather than a whole other property!

zagubov

Just wondering if anyone has ever rented a property before putting their own property on the market to sell. I know some people move into rented after getting offers before buying their next property in order to 'break a chain'.

Bearing in mind chain-free properties are likely to be more popular, has anyone ever done, or considered, doing this to make their property more attractive to buyers. I need to sell my house and basically just trying to decide how to make my property the most attractive to buyers in the current market. 

Trying to think of potential negatives or if this is just a plain crazy idea!  Obviously this is assuming you had the funds to do it. You may end up not being able to sell but if you'd only signed say a 6 month rental contract, you could just move back into your own house. And hoping the landlord/lady don't evict you at the end of the 6 month tenancy if you have sold your own house before buying another one (but I guess that risk is the same for people moving into rented to break a chain).

Has anyone done this or how have people who moved into rented to break a chain got on?

We did rent out our home before buying another. Moved into a better school area. Very weird being a tenant and a landlord at the same time. We thought it would give us flexibility and be less stressful. 

Tenants were great but were deffo leaving by a certain date. Took us a bit longer to find a house-for-life worth buying so we had a few months where we had no rent income but still had to pay rent + mortgage.

All good in the end. 

It'll be more expensive than you expect. And more bureaucratic -you'll almost certainly need to submit a tax form either yourself or via an accountant.

housebuyer143

zagubov said:

Just wondering if anyone has ever rented a property before putting their own property on the market to sell. I know some people move into rented after getting offers before buying their next property in order to 'break a chain'.

Bearing in mind chain-free properties are likely to be more popular, has anyone ever done, or considered, doing this to make their property more attractive to buyers. I need to sell my house and basically just trying to decide how to make my property the most attractive to buyers in the current market. 

Trying to think of potential negatives or if this is just a plain crazy idea!  Obviously this is assuming you had the funds to do it. You may end up not being able to sell but if you'd only signed say a 6 month rental contract, you could just move back into your own house. And hoping the landlord/lady don't evict you at the end of the 6 month tenancy if you have sold your own house before buying another one (but I guess that risk is the same for people moving into rented to break a chain).

Has anyone done this or how have people who moved into rented to break a chain got on?

We did rent out our home before buying another. Moved into a better school area. Very weird being a tenant and a landlord at the same time. We thought it would give us flexibility and be less stressful. 

Tenants were great but were deffo leaving by a certain date. Took us a bit longer to find a house-for-life worth buying so we had a few months where we had no rent income but still had to pay rent + mortgage.

All good in the end. 

It'll be more expensive than you expect. And more bureaucratic -you'll almost certainly need to submit a tax form either yourself or via an accountant.

The OP isn't takingy of being a landlord, just leaving it empty.