Would you sell your house in the current climate?

[gingajewel]

I’m so stuck with what to do! We definitely need a bigger house but I’m just not sure with everything that’s going on! Would you?

Bump anyone please?

It depends where you live surely. What exactly are you worried about?

I think the most important question is can you afford to? Do you have job security, savings etc? Will you be able to afford the new mortgage on one salary should one of you get the gooner?

I am glad to see your post. We were thinking the same but I am worried about people who come for viewings touching door handles etc and bringing Covid into our home.

Have just sold my flat in London. Snapped up in 2 days of viewings.
Luckily we have found a house to move into but the buyers market is crazy out there. We were viewing houses along with 35 other viewings on the same day. I’m not sure where you’re based but the Rishi tax break has made everyone decide to move house!

@LolaLollypop that’s what I’m worrying about I suppose, not been able to get a new house because I have heard competition is crazy out there at the moment!!
I work for nhs and we could afford the mortgage on one wage, I’m in the Black Country and we had our house valued a few weeks ago and I was amazed how much it is now worth! Just worried the house market is about to come crashing down!

Next door has sold theirs within a week of going on the market. It's a nice one, but surprised it went so quickly.

Ours is on the market (had a buyer pre-Lockdown but it all fell through) and we've had an offer within 2 days of putting it on, but there's nothing coming up that we like so not sure where we're heading with it all.

Yes, get it on the market quick.

As an agent in small town Scotland I can’t market houses quick enough, especially bigger family homes. Everything is going super quick, I’m putting my own house to market in a few weeks.

Guidelines state that viewings can continue although virtual viewings should be offered in the first instance. At a face to face appointment only 2 adults should attend, mask and gloves worn. As a seller you should have your doors open, lights on and some windows open. Go round and wipe down any high touch areas (bannisters for example) after. Maintain social distance at all time’s No back to back appointments, one viewing per day per property and absolutely no open houses. Not sure if that’s UK wide or just here but it all seems sensible.

This market absolutely will not last, conveyancing is taking longer and lenders are now taking 12 weeks to process a simple mortgage application. Increased local restrictions will make it all tricker and full lockdown number 2 doesn’t seem that unlikely. If you need to sell I would do it now.

@icebearforpresident Thankyou that’s really useful. The whole process feels so daunting because I have never done it before so Thankyou

We've just sold and bought, lockdown exasperated our need for a bigger house. I'm relatively confident in our jobs, fixed for 5 years, and we'll take it from there, I wouldn't move for kicks but if you need to and the current environment isn't directly impacting your finances then why not, plenty of other people are.

Yes, definitely. It’s a seller’s market. We were buying before lockdown. Purchase fell through after lockdown due to vendors health issues.

The market is insane at the moment. Properties are having offers accepted in less than a week. We offered on one that went for more than £50k over guide price and turned out to have a planning issue that meant it probably wasn’t mortgageable. Didn’t matter, snapped up.

We are renting at the moment but if I had a place to sell, yes, would definitely sell now.