Sell up and rent for 6-12 months??

loupow83

Hi, I am a newbie to the forums and wanted a bit of advice, please.

Little bit of background info.....My partner and I have lived in our first house (a two bed) for 4 years and have a 2 year old son. We want to move to a three bed, we feel it's time to move and in the next year or so we want to have another/more children.

We have had our house on the market since the middle of Feb, we had no viewings at all for first month so we dropped the asking price by £5k. We had our first viewing last week but have not heard anything on that and still there has been no other interest!

My question is, do we try dropping the price quite a bit more with the hope of selling it quite soon (giving us still a reasonable profit) and then rather than look for a new place now, we could either rent for 6-12 months or move in with my parents. Just to see what happens to the market.

We would then have a large deposit for when we want to get back onto the market at a later date.

We just don't know what to do for the best, now we are on the property ladder would we be stupid to get off it and then get back on it again in a year or so - or do you think that the option of renting/living with parents for a while would be a good idea???

Any advice on this would be greatly appreciated.

Thank you in advance

RHemmings

Nobody can predict exactly what will happen to the market. But I think that any correction that might occur will take longer than 6-12 months to play out.

pickledtink

There's quite a heated debate raging on the house crash thread over the last 3 pages or so on this very subject.
Why not take a look?
I'm in rental right now since December. I didn't do it deliberately. My purchase fell through last minute and it has in fact really benefited me.

Also as I sold at the peak I was lucky. You are now looking to sell in a dropping market which is not so good.
Really nobody but you can assess your individual circumstances and the differing conditions by area.