Should I rush into the next property or rent for a year?

[Whaleghost]

Moving to a new area and want to get in there ASAP.

My house is owned outright and my biggest concern is holding so much cash during Brexit. If I stay in the quickly bought house for two years then move it works out not that much different to renting for a year.

What would you do? Am I missing any big disadvantages?

If I stay in the quickly bought house for two years then move it works out not that much different to renting for a year.
Can you show your workings on that: are you comparing rent v. mortgage? Are you ignoring the transaction costs of buying - stamp duty when you purchase, estate agent's commission when you sell, solicitors fees on both.

I think OP would be a cash buyer so no mortgage - fees/stamp duty are expensive though so think carefully about costs.

Very rough workings out.

But I'm calculating the cost of renting for a year as 15k and making a tiny bit of interest

Then the cost of stamp duty, solicitor fees and ea fees to sell the quickly bought one works out not that much less and a lot more hassle

I’d rent. You can leave as soon as you like, take your time waiting for the house you want, don’t even have to unpack everything.

If you were to buy you’d be relying on someone taking the house of your hands when you’re ready to go. Would have to do viewings etc (which I hate, you might be different). Packing and unpacking then packing and unpacking - ugh!

I think that I'd be wary. If you were talking about an area that you knew then maybe go for it but if you are talking about an unknown area - where half a mile might make a big difference in desirability / price, unbeknown to you - then I would be more cautious. If you were buying in a hurry then you are all the more likely to fall into bear-traps. Move and talk to colleagues / neighbours / school gate acquaintances to get better, more subtle info.