Listing anxiety / regret?! Anyone else in the same boat?

alex_163163

So we’ve just listed our property for sale, having seen another we’re interested in. But does anyone else get the instant nerves / anxiety / maybe even regret straight away?

I like my current house. We bought it as a doer upper, and we’ve now done as much as we will to it. It’s a great size, very convenient for my work, but it’s close to a busy road and has quite a few close neighbours. So it’s not that we need to move, just that we’d like to.

we’ve found a new property - another doer upper with scope to extend, in a lovely country village with rural views. It’s further from my work but still do-able. We’ve not offered on it yet as we aren’t proceedable without an offer on ours. 

And now the Rightmove listing has gone live, I’m scared! Excited for a new challenge if we get the new house, but scared:
Of the work involved in another doer upper. 

Of potentially making a mistake and selling a house that’s perfectly fine for us and we can easily afford.
But also of chickening out and not making a step that could be a great one for us! 

Of taking on a larger mortgage in this economic climate, even though it’s well within our affordability. 

Anyone else out there selling and buying, in particular a house that needs work, who’s excited but scared / nervous ?

jj_43

If it is a doer upper your after then getting a bargain in this market is possible. I question why it involves getting a bigger mortgage. Make sure the next one allows you to have a smaller mortgage.

lookstraightahead

No I don't get nervous about moving houses or areas. Try not to overthink it, it's just a building (take your heart with you) 

markin

Are you fully aware of the current costs for materials and labour?

[Deleted User]

I think everyone has experienced this in their first couple of house moves, take the gamble and go with it now.

Bluebell1000

I must admit we felt similar on our last move. Kept both houses and rented the first one out, just in case we changed our minds 😅 (we haven't, but the rental is working well).

MobileSaver

markin said:

Are you fully aware of the current costs for materials and labour?

^ This.

During the pandemic I got planning permission for a big shed but by the time I was ready to start the project earlier this year the costs had jumped from under £20k to over £40k so I've decided to put it all on hold - it was only ever a WIBNIF and I can't bring myself to encourage the profiteering that's obviously going on.

MultiFuelBurner

The OP has done one renovation give them some credit. They aren't a noob saying they have no DIY skills or idea of costs like the other post floating about right now.

What I find interesting is everyone in the family up for it? Normally one person leads which can lead to stress then others aren't fully invested in the process.

There is a reason for the saying "don't upset the apple cart"

MobileSaver

MultiFuelBurner said:

The OP has done one renovation give them some credit. They aren't a noob saying they have no DIY skills or idea of costs

I think the point is to give the OP a heads up that material prices today are nothing like what they will have been even just a year or two ago, let alone when they did their other renovation. This week we've had experienced builders here working on another project and they are shocked at the scale of price rises.

The takeaway is for the OP to get some rough costings at today's prices before they get emotionally or financially involved with the idea of another doer-upper.

MultiFuelBurner

MobileSaver said:

MultiFuelBurner said:

The OP has done one renovation give them some credit. They aren't a noob saying they have no DIY skills or idea of costs

I think the point is to give the OP a heads up that material prices today are nothing like what they will have been even just a year or two ago, let alone when they did their other renovation. This week we've had experienced builders here working on another project and they are shocked at the scale of price rises.

The takeaway is for the OP to get some rough costings at today's prices before they get emotionally or financially involved with the idea of another doer-upper.

Actually material costs are down this year by some 20% on 2021/2022

 

alex_163163

jj_43 said:

If it is a doer upper your after then getting a bargain in this market is possible. I question why it involves getting a bigger mortgage. Make sure the next one allows you to have a smaller mortgage.

Because the new property is on the market for more than we can sell ours for. So larger mortgage is required. It’s a nicer rural area so you pay more for the location than where we are now.  Plus we’d probably want to take some equity out to allow a larger refurb budget.