Are we actually doing the wrong thing?

[unicornee]

So I have a plan to move to London. This require us selling our house and taking a further mortgage out (not currently in London)
We’ve just been offered out of the blue an ok offer on our house. Even if this doesn’t work out it got me and dh thinking we should sell the house. We’ve out grown it and think if we can get a good offer than we should just go for it. Every now and then people ask to buy the house but we’ve been too lazy to actually think seriously.

I told my parents we plan to sell up and rent a cheap dump while we look in London and just go in and offer on a property on the basis we are chain free.

I have literally been on Rightmove every day for months researching houses in areas we want to live in. We’ve been to see many towns and settled on three options. We’ve been to school open days etc and are pretty sure we know what we want.

Anyhow when I told my parents our plans they went on and on about how we mustn’t sell and then rent as we might never be able to afford another property if we do that.

Are we doing the wrong thing by selling renting then aiming to offer lower given our chain free position? We feel it might give us more scope to buy probates or properties that move more quickly off the market.

Oh by the way - dont forget stamp duty - its pretty major! Is it another £30 - £40K on purchase price? There are online calculators.

And to Studentnurse of course you're right. I've lived in London most of my life so in the chain so to speak - but it generally makes no sense for anyone from a very friendly and cheaper part of the country further north. Any time I go i think why would anyone want to live in London if they're not born here and have all their friends and lives here.

Op, having no chain doesn't guarantee a good house as there are many cash buyers out there still, especially in London.
Ime estate agents work closely with developers to sell the houses that could be projects and they prefer to sell to someone who will relist after the build since it means double commision.

Before you decide start looking and bidding so you can see what is possible, it might surprise you. The good value houses not snapped up by developers probadly have issues.
Whilst the market is slowing pricewise very few places are for for sale and the project type houses have incredibly high interest. Any house in my area goes within days. Only those priced too high are hanging around.
I had to pay slightly over the odds for a project place in London as so many developers were after it.
Also if you factor in cost of work and renting whilst plans going through it may not be much of a bargain.

The biggest benefit to no chain was during the period when banks were restricting mortgages. It doesn't seem to be much of an issue anymore.

@Studentnurse1981 there are just so many more jobs in London for our line of work so hopefully one day I’ll work.
Plus I’ve lived further north and much prefer the weather 
@Bouledeneige yes we have factored in stamp duty but thank you for mentioning it.

Sorry meant much prefer the weather I. London. Just got back from London. I just love it there so much I’m willing to live in a not so great house for it!