Which first - finding a place to go to or finding a buyer?(20 Posts)
I'm thinking of moving house, but I don't "need" to. I would only move if I found the right place, and the sort of place I want in the location I want doesn't come up too often. I've had a look round a few houses but none of them were right.
My house is in a very desirable place, and very good value for the area. Everything modern and up to date. I think it would have a good initial flurry of interest if I put it on the market at a realistic price. But without anywhere to move to I won't sell it.
I don't want to have it on the market for ages and make it look like no one wants to buy it. The agents are very very keen to get it on as there are not many properties for sale in this area so I'm not sure I can trust them.
I remember during the property boom when I moved house with my parents you needed to find a house first, as it wouldn't take long to sell yours. Then during the recession there was no point looking for a house to buy until yours was sold. But now it's not clear to me which way round it is?! Does anyone know? I am in the south...
I think that it depends on the local market. I'm in the north and it's madness in my town. Some houses are going for more than asking price within 5 days of hitting Rightmove. We missed out on one like that because we didn't have ours on the market. Our local agents are reluctant to even allow viewings unless you have your house on the market and they won't entertain offers unless you have an offer in place on your own property or are lucky enough to be a cash buyer
Maybe get your property valued and photos taken, floor plan sorted so if you see somewhere you like you could just make one phone call and your house would be on sale. Then if yours sells quickly you could jump in for the house you want?
Forgot to add. Our agents make it very clear that if you put in an offer that's accepted then it's only accepted on the condition that the vendor finds somewhere to move to.
I have a similar concern.
I don't have to move, but would like too.
Mine won't be easy to sell because it is remote and a shared land ownership scenario.
However there is absolutely nothing on the market. I am scared of finding a perfect buyer and then having to pull out because I have nothing to buy.
I really don't understand the current market !!
I'm in a similar position although I waited to find a house I love then lost it as mine didn't sell quick enough. Its a horrible balancing act in my experience.
We moved 2 years ago in similar circumstances to you. We put our house on the market first to show we were serious about moving but made it 100% crystal clear that we would only move for something which was perfect, even if it took us ages to find. Some of the properties we were interested in viewing had instructed the agents that only people with offers on their own houses were allowed to view (I guess it saves time wasters) and likewise some people would only allow viewings if peoples houses were on the market.
Oh no Bluebell, that sounds tough! Guess that is the concern...
Sounds like you managed to balance it well Sweetheart, how long were you on the market for before you moved?
You see, I'd expect a house on the market to be available to buy... whereas if I was selling I'd know that it would take quite a few viewings before I got an offer so wouldn't read too much in. So I'd definitely need to make sure any agent was crystal clear about our position to potential buyers. I'd hate someone to fall in love with it only to have to tell them they can't have it! Guess I might be overthinking though...
Finding a buyer. If they want your house, they'll wait.
Agreed, in my experience no owners of potential purchase properties will take you seriously if you don't have a buyer for yours
I am a buyer waiting for houses to come on the market. We sold ours last year and are currently living with relatives until we find somewhere. I would wait for the right house but not sure how long I would be "happy" to wait. It would all depend on how perfect the house was.
there is always a risk of losing the buyer if you make them wait too long.
Harry all in all it took over a year from putting our house on the market to finally the day we moved but we had a nightmare chain which collapsed 3 times! On the plus side to this it meant that we ended up getting more money for our house.
Sweetheart that sounds really stressful! Not sure if I can cope with that right now
Still I suppose given that I don't need to move urgently that it might be ok, at least I'm somewhere I'm reasonably happy with in the short term, might be better to move before we really run out of room here in a few years time!
It was very, VERY stressful. I think the fact that i didn't really want to move made it much harder - almost seemed like fate was trying to tell me something.
Also most estate agents are total liars and so trying to second guess what is actually going on and position yourself accordingly is a nightmare, it's like playing mind games and who can hold their nerve the longest!
I'm glad we did it now though, it was the right practical decision in the long run (I just don't think my heart was ready)
Find a buyer first. We found a house we loved, then put ours on the market and the house we wanted sold 2 weeks before ours did. We did find another house within a week though.
I do not agree buyers will wait. If something better comes up you will be dumped. We always managed to find a buyer after finding a house but I might be inclined to sell now and go into rented to wait if I had not found the right place. Lots do that around here.
I think you need to sell first. But while yours is on the market, keep an eye on Rightmove. Get to know what's about, how quickly it sells, and for how much. When you have an offer to can straight in there with looking for your place.
It's a scary process. What you want to do is find somewhere you want to move to do you can be certain in your decision to move, then sell your house. It just doesn't work like that in practice. It's the thing that puts me off moving.
Unlike, say, buying a dress. If I decide I want to buy a new dress, I go out looking for something I like. If I find something I like, I buy a new dress. If I don't find something, then I decide to make do with an old dress. If only moving house were so simple.
One of the reasons there arent enough houses on the market is because there are too many people insisting on finding first - if y ou want to move get your house on the market first. You can ask people to wait and you can go into rented to break the chain which makes it easier for everyone.
Years ago we all found the house we wanted first! In fact lots of people seeking to rent pushes up rental prices. No easy answer really! However you only live in one house at a time. It makes no difference to supply and demand. It is just about timing.
Start looking yourself online now and decide what it is you are looking for. It sounds to me as though your reasons for moving are somewhat vague - what is the main driver? Most people move through necessity - whether it's needing more space, a new location for whatever reason, wanting to downsize, etc. The more you actively want to move, the more likely you are to actually do it.
Last time we moved, we decided on the area we were looking at and got our house on the market. We had a steady stream of viewers and, after a few weeks, we started viewing places ourselves. We had a tentative offer when we saw one place we liked. The EA nearly lost us the buyer when their first potential buyer couldn't get a mortgage, but DP managed to sort things out, albeit at a lower amount than had first been agreed. Anyway, we saw somewhere we loved and managed to negotiate a purchase price that worked for everyone. Our vendor made us wait a fortnight over Christmas before accepting though!
We were in a chain of three properties and it took just under six months from putting our house up for sale to completion of sale and purchase.
If you know the kind of place you want to move to is in short supply then you need to have a strategy designed to get it for you, whether that is visiting the agents regularly, dropping a note through the door of places you like the look of, speaking to friends and family, putting a card on the local shop noticeboard. A friend lives in a sought after village where the post office is the unofficial estate agents' and buyers and sellers put cards up.
The only thing about going into rented - often a good idea since it makes you that much more 'proceedable' - is that if it takes longer than you think, prices may go up in the meantime.
A friend of mine spent over 2 years in rented after selling her own very easily - she was very picky about what she wanted - and prices shot up during that time.
Not quite so likely now, though, in our area (SW London).
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