Buying new home

[FlyingJellyfishintheAttic]

Me and DH have a two up two down and are going to sell as we need bigger house. We would need to borrow more money.

We haven't found a house yet.

My question is where do we start first? Should we get an agreement in principle first or an offer on ours or start looking?

I would get yours up for sale before you start looking. You might see a house you fall in love with but can't do anything about as yours isn't even up for sale never mind under offer.

Maybe have a chat with a mortgage broker to see what kind of sum you could borrow and at least you will know what price houses you can look for.

What's the market like in your area?

At the very least, you should put yours on the market.

If the market is fast moving, you will probably need an offer on yours before putting an offer on another house. If it's slower, you may be able to put an offer in whilst yours is still up for sale and your vendors may give you a certain period in which to find a buyer (happens a lot where I live).

And yes, I would probably start getting advice about how much you can borrow in preparation for getting a MIP.

Our area is very in demand with investors, students and young professionals (close to city centre, hospital, uni all 20 min walk). We planning to move outside of this area as we want bigger family home. There was a bidding war on ours last year and we have improved it since.

Our area is very in demand with investors, students and young professionals (close to city centre, hospital, uni all 20 min walk). We planning to move outside of this area as we want bigger family home. There was a bidding war on ours last year and we have improved it since.

Is the market in the area you're moving to slower than your current location? If it is, you could probably get away with offering on somewhere if you explain to the vendor's EA that your house is very likely to sell within 24 hours.

If not, I would advise getting an offer in on yours and then asking your buyer to give you a certain period of time to find somewhere to buy.

A lot of the time EA won't take offer seriously without proof of funds - mortgage in principal. So I'd put yours on the market, get MIP and then start looking

Sorry just reread your OP, you will need an offer on yours as well before they take offers from you seriously

Yes plan is to tidy up ours this weekend, clean, hide children's clutter and get on market. Book appt with our mortgage provider for AIP and then look. Hopefully an offer will come in for when we have found something.

The market we are hoping to move to is slower than our current one but I think it depends on the house.