WWYD rent it out or reduce the price or wait it out

[Lookingsparkly]

We really want to move. We don’t need to move right now but will need to for schools in about 5 years. However we want to move and invest in what will be our forever home rather than put more into our current home IYSWIM. Our house is on the market and we had a buyer but this fell through. The market seems to have gone very quiet since then.

Do we....

1. Wait it out with the house listed for sale at the current price until we have to sell (and risk having to put lots of money into the house over time. Everything is fine just now but likely to need a new flooring and redecoration soon enough).
2. Rent the house out. We can remortgage to a BTL mortgage and have enough equity to do this and have enough for stamp duty and a small deposit for a new house.
3. Reduce the price of our house by what the extra stamp duty would cost us to buy a second house anyway.
4. Try a new build part ex (although we are not happy with the maintenance charges on all the new estates!).

Why did the sale fall through? Did you have any feedback from viewings/previous buyer that you could realistically rectify?
If you don't have to move and there is anything you can act on, I'd probably take it off the market, make the changes, and relist (maybe around Easter).

I think the market might pick up in the autumn. Was your pricing realistic?

The sale fell through due to the buyer’s mortgage application being rejected. Price is realistic but sales seem to have dried up in this area in the time from when we accepted an offer to it all falling through. I expect it would take a massive reduction to make it shift and it’s already on for a little less than we paid 6 years ago.