Would you buy a property that was last sold only a year ago?

[SilverLiningSearching]

Seen a house on Rightmove which ticks a lot of boxes, but on checking Market data it only sold last year. There is a new bathroom but the rest of the house doesn’t look recently renovated, so don’t think it’s a developer situation.
It is the second property I’ve liked that is back to market so soon. It makes me wary, I’m thinking bad neighbours, but doesn’t that have to be disclosed?
Also the asking price is 16k higher than what they paid last year!

I wouldn't rule it out. Speak to the EA as there are loads of reasons someone might sell so soon. Someone was on here just the other day looking to sell not long after purchase following a medical diagnosis.

I probably would, but I would ask the agent why they are selling so soon. It might be that the current owner needs to sell for all sorts of reasons; personal, financial, family etc not just because of the neighbours!

Maybe they are divorcing, one/both lost jobs, can't afford to pay the mortgage?

You can always ask why they are selling...

I sold a house a year after I bought it. Only because my life circumstances changed - it was a really lovely house.

I did put it on the market for what it was on when I bought it though. And got about £5k more for it than I paid.

Hilariously the ad states ‘priced to sell’ despite the extra 16k whacked on. I will ask the EA of course, just hope they will be honest.

If you look on Zoopla, you can often see the sale details from previous sales ie photos, descriptions etc. Perhaps you could compare the photos so see if they have done work to the house to justify the extra £16k? If not, they are cheeky buggers!

I'd be wary but would ask the question.

House next door to us was marketed Feb 2019. 6 lots of seriously interested parties so it went to sealed bids. The family that bought it had multiple renovations done in the first month, moved in and by July it was back on the market due to circumstances beyond their control which had changed. They moved out in Oct 2019 and new people moved in. As their neighbour i can assure you it's not a neighbour problem

What % increase is the 16K though? Where I live that is a really small % of the value of the properties and just reflects the fact that prices increase year on year. You need to compare it with what is currently available to you, not what previous owners paid for their properties in different market conditions.

Ah... if you're in Carlisle and the (lovely, beautiful) house came on the market this morning, it's because dh got a job in Scotland and we need to move. And I am gutted because I adore this house.
But please don't rule it out!

It would depend on why they were selling, does the reason sound plausible.

Forgot to add property went back on the market at £60k more than it had sold for originally.

You only have to disclose if you have a dispute with the neighbours.
They could be the neighbours from hell, but nobody has to tell you.

We sold two of our houses a year after buying, because of unmissable job offers hundreds of miles away. Good profit both times.

Illness, unemployment, family break-up, promotion to another part of the UK. Lots of acceptable reasons for a short stay.

It would make me very wary. I know someone with a nightmare neighbour who put their house back on the market very quickly.

They didn’t have to declare the neighbour issue as they hadn’t raised a formal dispute. I felt really sorry for the couple who bought her house!

I would ask the sellers. I passed on a property that had multiple owners in a short period because i got the sense something was off, however if they are selling due to something like a divorce then i would have understood

We sold a house after only 16 months because a change in my husband’s job meant we needed to move again. Literally the only thing we did to the house was change the taps in the bathroom as one of them jammed but changes in the market meant we sold for more than we bought it for.

Yes absolutely - I’d ask why it was back on the market and do my research carefully (traffic? Flight paths? Antisocial behaviour nearby?) - but there are all sorts of reasons someone may need to sell again. Especially at the moment 😞.

Meant to add, I was having a little nosy on zoopla last week and noticed that it had sold again, which means it’s sold twice in four years with the price going up each time.

@Undies1990 thanks for the tip, the previous photos show only the bathroom is new, the garden used to be far nicer though.

Also it has been increased by 18k not 16 this is about 7% increase, although the EA Marketing is locally notorious for inflated asking prices.

I would be wary. Could you stake out the property one Saturday for a few hours and see if you can spot the neighbours

What % increase is the 16K though? Where I live that is a really small % of the value of the properties and just reflects the fact that prices increase year on year.

House prices are not guaranteed to increase year on year. In the current economic climate, I'd expect the opposite.

A house near us sells every couple of years. The people always say they're moving because the next door neighbour has lots of noisy dogs.

Our house had been bought a year previously to us buying it. The couple had split up, the estate agent actually gave us the information when we were viewing.

There can be many reasons eg marriage break up (moving is stressful!) owners could have lost income due to covid etc