New house a huge mistake

[runforthehills65]

I have only been in my new house for three weeks but I realise I have panic bought it and hate where it is. I had sold my house and exchanged and could have taken my time finding a house but instead I just went for this, pushed it through and now feel so stupid. It is in an area I realise I really do not like, I know no one here, it is 15 miles from my sons school. All things I knew and I still bought it. Why? I am a single mum and feel this is a time when I should have asked for advice from people but thought no, I'll choose my new place on my own. Never again. Daren't say anything in RL but I have just spoken to an estate agent and she is coming round on Monday to see about putting it back on the market.

I just think the market here is not on the up and if I wait a year or so I will make no money on it so I might as well quit now. I have been in floods of tears and cannot believe I am in this position. At present I have enough extra money to fund one more move plus whatever I get for the house.

Anyone heard of anyone doing this before? Or am I the only idiot?

We bought a place within 2 weeks realized we made a huge mistake, had an agent over who found someone that weekend to rent it, we moved out 4 weeks later into rented accommodation is the area we wanted, instantly much happier people/couple! Tenants lived in our place for 2 years then bought it from us! What works for some doesn't for others! accept the mistake and make it right... can you rent it out? Keep your chin up everything will work out if you make it.

You may need to do some research into whether any prospective buyer would be able to raise a mortgage on the property. Mortgage lenders are often twitchy about property changing ownership twice in under six months.

Dinglebellz suggestion of renting it out and moving into rented yourself may be a better solution although you will need to apply for consent to let from your mortgage provider (who may be reluctant due to the short time you have owned the property) or change your mortgage to a buy to let mortgage.

Sorry to not be more helpful but unfortunately you may find your choices are limited in the short term ie first six months.