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Original poster

Has anyone moved into a house as a stop gap?

15 replies

MagersfonteinLugg · 04/04/2015 00:01

Cannot find the perfect house ATM.
There is a new build going up but it won't be ready in time for when our buyers want to move in.
So we have decided to buy cheap as a temp solution. Stay in it for six months or so till new builds ready then sell to developer.
Anyone done this before?

OP posts:

CrispyFB · 04/04/2015 07:16

We're renting as a stop gap. It would be fine if you only wanted six months as you'd have security with a fixed contract.

I'm struggling to recommend longer right now as our landlord has changed his mind over how long he'd originally said he wanted to rent to us for, and is selling the place. Fortunately we had just about managed to save up the 5% deposit (we were in negative equity when we sold) with literally not even a few weeks to spare so hopefully we will be okay. But it is a stress we could have done without. That is the main downfall of renting, your home life is at somebody else's whim - but for six months (or 12 if you sign a 12 month contract) they have no power.

FunMitFlags · 04/04/2015 07:22

Yep, ended up staying for 8 years and sold at a loss. But it did allow us time to save up a hefty deposit for the 'forever' house.

redmapleleaves · 04/04/2015 12:46

Also renting as a stopgap for hopefully three months.

Landlord gave us 2 months notice at least convenient time just as our chain collapsed, so went to eyewateringly expensive corporate let as I couldn't cope with more stress and didn't want a six month contract.

On lots of levels its great - could just put all but the immediate stuff into store, second suitcase with summer clothes incase things move very very slowly, and even the bedlinen, wifi and crockery provided. The expense is putting a strain on pushing things along and its meant I haven't tried to buy houses with long chains because speed and reliability is what matters to me at this stage, but I didn't feel I could cope with setting up a new temporary house with everything else in such turmoil and so much resting on me, so on balance was still a good decision.

SheriffCallie · 04/04/2015 17:58

I wouldn't buy as a stop gap for such a short period. You'll end up paying solicitor's fees and possibly stamp duty twice. Unless you live in an area where prices are predicted to rocket at an incredible rate, I can't see this being cost effective. Why not rent for the 6m (and maybe longer if my experience of buying a new build is anything to go by).

FaFoutis · 04/04/2015 18:10

Have rented as a stopgap in your situation. It was nice because we could move into the new house slowly.

Pagwatch · 04/04/2015 18:14

I think buying as a stop gap is madness tbh. The costs will be ridiculous for 6 months. And the prospect of two house sales in one year is awful.
I'd rent for 6 months.

RaphaellaTheSpanishWaterDog · 04/04/2015 19:13

We did this a few years back when we were gazumped the day before contracts were due to be exchanged. However, our initial intention was for to keep the stop gap house for a year/eighteen months, as opposed to six months but ended up staying in that house five years, although we did then manage to buy the dream house that was far better than the one we lost out on.....

Wouldn't fancy buying somewhere and selling again within six months or so though - the thought of two lots of removals and double the stress doesn't do it for me, I'm afraid!

NightFallsFast · 04/04/2015 23:39

I've rented for about 6 months between houses. It definitely made both moving out and moving in to the new place much less stressful.

Khalinda · 05/04/2015 00:59

Renting for six months (we've done) but I think it would be utter madness to buy in your circumstances unless you've more money than you know what to do with.

Original poster

MagersfonteinLugg · 06/04/2015 08:28

I don't know why I didn't consider renting. Will have to look into this as it does seem to make more sense in the short term.

OP posts:

newgirl123 · 06/04/2015 21:38

We bought this house to suit us for 3-5 years - I think any shorter than that and it is a very expensive thing to do

IUseAnyName · 07/04/2015 09:41

We're currently renting as we sold and relocated and wanted to get a feel for the new area before completing.

Fab41 · 07/04/2015 12:40

We bought a house that was too small in order to be closer to work and good schools. Planned to stay a year or two, ended up being seven years. Now in our 'forever' home and don't expect to move for at least 10-15 years, or at retirement.

HellKitty · 07/04/2015 12:46

Renting as a stop gap here. We also think that when we find the perfect house then any major work, kitchen possibly, we can hang onto the rental for another month while it gets sorted. In theory!

The trouble with buying is that is might be difficult to sell when you need to sell it to fund the new house.

MrsSparkles · 07/04/2015 13:07

We also rented for 9 months. Mostly because we were relocating and wanted to live in the area for a while before committing. Good job we did as we hated it and ended up buying 30 miles away.

It did make for a non stressful house move and meant we could have lots of things done before moving in (painting, floors etc)

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