AIBU to wait until Spring to sell? Or sell now?

[Fivefootoffun]

Hello,

We live in Glasgow and bought are 3 bed semi 3 years ago (prior to DC). We now have DD and a DS on the way.
We do need a bigger house (kitchen etc small) but hadn’t planned on moving for another few years. However, we’ve since discovered that houses in the area have show up of late (it’s a desirable area and there arnt many houses our size - tends to be either flats or mansions). We got it valued and as it stands we would be set to make about £50k on the price we bought it for which would obviously be a great help for our next house.
The estate agent was adamant that now is a good time to sell given on the neighbouring houses that have sold so quickly the past few weeks and for well above home report.
Our problem is however - there’s realky not much at all on the market for us to then actually buy! Literally hardly one house we’d be interested in and that’s including looking out with our area.
So my question is - we think we will wait to Spring in the hope things pick up? Anyone have any thoughts on brexit/house moving just now etc? Do you think things will pick up/are people holding off just now.
We’ve looked at the properties sold in the Spring just past but there was very little - ? Due to brexit fears.
Any advice really appreciated.

I’d be hesitant to wait until after brexit to sell tbh.

If you're likely to sell quickly and make a good profit then I'd sell now and consider renting for a couple of months if it's doable, so you're ready to pounce as soon as a house you want becomes available

Renting will also put you in a good position to buy

You could ask the EA to advertise what your looking for - and the EA is more likely to be competitive if someone came forward with something

I’d put it on the market and see how the next 6 weeks go in terms of finding somewhere

Someone may even want a swap!

I'm a Scottish estate agent, the market where I am has quietened down the last few weeks but properties are still selling. Have you thought about selling now and then renting with a view to looking for a new property in the spring? It would put you in a better position to buy when you see something you like.

Thanks all - I guess we could rent but it’s the thought of moving all our stuff then twice! Appreciate the input thank you.

Thanks Teeniefaetoon - if I wasn’t pregnant might be more inclined to rent. There are some properties coming up but few and far between. Do you find the Soring busier in terms of number of properties on the go?

You say there is nothing on the market that you would like to buy - not one house. However it is only one house that you need. If you are honest with the estate agent and buyers you could find a buyer that is not in a rush. Then when a house comes up that is suitable you are ready to offer. If a house comes up that you like and you aren't on the market and don't have a buyer they won't take any offer you make seriously.

With this plan and patient buyers (e.g
first time buyers living at home and saving up) you can still look at houses that come up in the spring if you haven't found anything by then. Keep communicating with your buyers if time drags on reassuring them that you are committed to them and committed to selling and still looking. They may not want to instruct their solicitor to start or spend any money until the chain is complete - so they could of course pull out at any time so good relationships would be vital.

When you have a buyer in place make sure the agents know what you are looking for and are calling you when it comes up. You could even consider a leaflet drop (that you are looking to buy in the area) in streets that you like.

You say yourself that you weren't originally planning to move now. You can't find anything that you want to buy. Of course the estate agent is adamant that it's a good time to sell - his/her commission depends on it. Don't let them panic pressure you into selling.

I wouldn't move out into rental. Both the buying/selling and rental markets are distorted by Brexit/not Brexit/who knows what Brexit/general election or not. Hopefully that will start to settle down in a year or so's time and the market will become more fluid.

Renting is a daft idea. You’ll just be pissing money up the wall for no reason. Your house may not be the perfect size but it’s sufficient for now. You have a toddler and a baby on the way in a three bedroom house, it will be fine.

Thanks everyone.