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Selling/ buying stress advice needed

6 replies

mimimoo22 · 12/06/2019 13:40

Hi,
We are “trying” to sell our house with the aim of buying a new build.
Market is pretty flat here all potential buyers haven’t sold their own property so basically not going well.
New build we want not finished building yet and no incentives on the plot yet like stamp duty etc. will probably be ready around October. We ideally need stamp duty as will be stretching to buy this house.
I’m feeling pretty low about whole thing as we have finally found the house we want but can’t do anything to secure it as still selling our own and obviously have high risk of loosing it. Can’t part exchange as don’t have the 30% price difference if we use the builders selling help they have basically said other incentives will definitely not be on the table.
How do people actually manage to move to the house you really want? All feels so helpless at the moment. Please can I have some positive stories and any advice around buying a new build and dealing with big builders who lets be honest are pretty ruthless.
How are others finding the house market btw? We are in the south

OP posts:
Alexalee · 12/06/2019 14:53

It sounds like you cant afford the house you want to buy... because the house you are trying to sell is not worth what you NEED it to be... which probably means you have it on for too much money... hence it hasn't sold
It really isnt worth stretching finances to buy a new build in the current financial climate... infact it is probably a very bad idea

mimimoo22 · 12/06/2019 18:32

Yes you are probably correct. Just hard when you find what you need in a new home. Sad
We have priced to sell though. The house opposite ( smaller, semi detached ) has gone on market 50k more than us ( we are a much bigger detached impressive looking house) and up the lane a very similar house but in quite a bad condition was 100k more than us, they have dropped to just 50k more than us since we put ours on. ( ours is more modern inside, better garden and positioned etc etc). We have interested buyers who are trying to sell so they can buy ours. So not really sure a drop is worth it to be honest. We are in a good area but the market is stagnant. Ours is also a special type of house so attracts a certain buyer ( I need to be vague as completely outing ). Estate agents just say to wait for the buyer.
Are new builds really so bad? Current house was a doer upper a true a labor of love but we have grown out of it. We really want the easy just move in and have space type of house now.

OP posts:
Alexalee · 12/06/2019 19:02

Well the problem with new builds is they have a premium on the price because they are new... anything from 10-40% if htb is involved... obviously when you have lived in it the next person will not pay a premium, so if house prices dont rise you will be in negative equity for some time

Alexalee · 12/06/2019 19:03

Also some of the major builders build some real crap ... if it's from a smaller developer then they are usually built to a higher standard

mimimoo22 · 12/06/2019 19:25

Thanks you are actually helping me feel a bit less rubbish. Maybe not really our dream house.

OP posts:
Alexalee · 12/06/2019 19:40

Theres always a better house out there mini... good luck

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