Moving House anxiety

[movingcrisis]

So our house is on the market… this is the first time we are selling a house so not used to all of the stuff that goes with it.
it’s really freaking me out that we won’t be able to find a new home to move into, like if I can’t find something I like.

i feel like I can’t be the only one who has felt like this! We originally put the house on as there were some new builds we really liked but as you can’t put a deposit down as well as the if you sell and the new build isn’t ready I don’t know how we would achieve this!

please someone help me out, does it normally work out ok in the end! AIBU to be this worried?

Why are you buying a new build

If you want to buy a new build, one of several things can happen. If it’s towards the end of a development and houses are already built, you can sell yours and move into the new one. You probably wouldn’t be able to choose options though.

If the development is at an early stage and the house isn’t yet built, usually, you sell your house and when you have an offer, you can offer on the new one. It’s possible that the sale will complete before the purchase, so then you have to rent or move with relatives.

These days though, with the market as it is, developers are having to be more flexible about their expectations and negotiation. Some people go for part exchange on a new build. There are far more incentives these days.

It depends on when the new build will be ready and when you actually get a buyer for your house. You might hit lucky and it all comes together, some new builds over a purchase of your house as part of the deal, but you often don’t get market price. Quite honestly I think you just have to put your house on the market and see how it goes

We like them…we are in a new build now and haven’t had any issues so want to do that again

Thanks….this is the unknown

with the mortgage we would be in a much worse position by completing and having to rent then porting it over which is our issue.

I thought most people part exhange their current house for the new build house

It is in the developer interest too as they want their houses sold asap with minimal agro or flimsy chains. Probably why they started offering the option.

Will the new builds part exchange? I am buying a new build but am renting. It’s definitely a lot harder when you own already. I had to exchange 8wks after reservation, even though it was another 4 months until it’s ready as not complete until August. I am moving 250 miles so buying a new build has made it a lot easier, and contrary to what people think about new builds, I am happy with my choice. Many have to live with family or rent short term which isn’t easy.

We sold our house and bought a new build, we went looking at properties when ours had sold, we knew it might take longer to be built then the time it took for ours to complete but not unreasonable longer so we kept our buyer in the loop. Turned out it all came together at the same time.

We’ve twice been able to tie in leaving the old house and buying a new build at the same time and twice have had a brief period of renting.

Buying a new build is generally one of the simpler ways to sell and buy a house. What are you concerned with exactly? I suggest you go to the sales office and they can talk you through the various options. As it’s a slow market in many areas right now there could be a few options open to you from the developer.

I don’t see what the issue is. What you’re doing is deeply ordinary. Go and talk to the sales office for the new builds and get them to talk you through the options relevant to you.

I understand it is ordinary but never being in this situation before I am unsure about the practicalities and the biggest alarm bell is what if we don’t find something!

@movingcrisis but what do you mean not find something? Have you been to a sales office? If you write out your specific concerns we can advise.

@jsgahoencakeSo the sales office do not do part exchanges, you also cannot put a deposit down until you are proceedable e.g have an offer. So effectively nothing we can do at this time.

the issue we have is that these are the last 2 houses of phase 1 with phase 2 not due to be finished until next spring.

so effectively my worry is that we ‘sell’ e.g get an offer and then these houses are gone and we can’t find anything else we like.

not sure if it’s everywhere but round here we have also enquired to see a couple of existing houses in the area but have been told we can’t view unless we are in the position to move.

so by not find something I mean our new build plans fall through or can’t work out but then we can’t find another property we like

I’m with you, we were in a similar situation when trying to buy a non new build. All you can do is go on the market, see if you get an offer, if you do you reserve the new build. If those new builds are now gone you look elsewhere, you be honest with your buyers that you’ve not found anywhere yet, and see how long they are willing to wait. If you don’t find something, you drop the sale. Or you go into rented.

Many developers do not offer this option or if they do, there are restrictions on the value of your current house against the purchase price. Some developers only offer a help to sell option where they will pay to market your property and pay the EA fees, it doesn't aid actually getting a sale though.

Afraid that you will probably have to do like most others buying a NB and that is trying to get a sale, reserve the NB and then try to get the sale & purchase to marry up. Otherwise, move into rented and/or with family.

When we reserved on our NB is was just foundations and over the next 12-months we watched it being built. In the meantime we agreed a long gap between E&C on our sale (5-months) and then moved into another house for the remainder of the time. A double move (and all the costs it entails) but it did make life a lot simpler.
Our neighbours did exactly the same. Some rented for a year, others moved in with family while a couple moved into second properties they already owned.