People genuinely think I should spend £1k a month on rent? Plus agency fees and all that bollox? Just so I don't upset my poor buyers? Other wise I'm clearly a terrible person
First off the rent maybe £10,000 for 6 months but once you have taken off what you would normally spend like your mortgage interest and council tax and water rates and gas and electricity and the fact you are in a position to move very quickly with nothing to sell you can make an offer which could knock a few thousand off the price it could be the best thing you could do.
I agree with you renting is dead money but only when you are in a place long term or with no prospect of buying.
Short term and for this purpose actually makes good financial sense.
I have been in similar position apart from the fact we couldn’t get a rented place. It was 1997 and estate agents and rental agents had nothing to sell or rent.
I sold and moved out as I hated the area even though it would make us homeless.
We bounced around in holiday let’s and hotels for several months.
But when we found a suitable home we were able to bid so much less and it paid for the costs we had incurred and more.
We could complete within the week and the sellers had found their dream property and didn’t want to lose it.
If you don’t want to sign yourself up to 6 months of paying out you could also look at holiday let’s for 4-6 weeks at a time.
You would have to factor in putting your furniture in storage and you could (if it takes a few months) end up going to different places. But it would mean you wouldn’t have any sort of bills and you would be free to tailor your stay to the exact date you move.
If where you are living is so bad then don’t lose your buyer.
It only takes a murder to end up being stuck in the place or taking far less than you are getting now to affect property prices or if you even get a buyer.
If we had stayed because we couldn’t find our perfect home we would probably be either stuck there 20 years later or we would have had to take far less for it.
6 months after we moved out the area ended up under 3 feet of water and every one got flooded.
Never ever happened before, never happened since.
Nothing you could have forecast.
We think we were really lucky.
Also I think confusedbeetle up thread was trying to give you an example of how things might turn out if you lose your buyer now.