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Is now a good time to upsize?

3 replies

SunflowerOwl · 14/07/2020 18:30

Just looking for opinions really. We are expecting a baby in March, all going well, so we decided to have a look into upsizing as our current house is a 2 bed with hardly any living space. We booked in some valuations with estate agents just before the stamp duty holiday was announced, so it wasnt influenced by that although it seemed to be a lucky bonus at first!

So we've had our house valued and it's better than I expected, given we've had Brexit and Covid since we bought in 2017 and it's going on the market this week.

However, the market seems to have suddenly gone mental, and we've phoned to arrange viewings on a couple of promising looking houses now only to be told they've been sold for above asking price within days.

I'm not really sure I'm keen to subject myself to the stress of feeling pressured into buying something because there isnt time to hang around. I'm an anxious person anyway, and the estate agent seems to think our house will sell straight away too as it is in such good condition.

On the other hand, if we wait a few months and end up in a long chain we may miss out on the stamp duty holiday and have to reduce our budget. I also dont want to be moving too close to my due date or with a newborn.

So the alternative would be waiting until the baby is a bit older but it would mean our affordability will be reduced either because I'm on mat leave or due to childcare costs.

So I literally dont know what to do! Could I ask for some opinions please?

(If its relevant, due to a much bigger deposit and lower mortgage rates the costs would be the same as what we currently pay and we are okay for money so I'm not worried about finances in that sense)

Thanks!

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Pepperwand · 14/07/2020 19:07

I'd just see how it goes. We put our house on the market 18 months ago before our baby was due. In the end the chain collapsed when I was 36 weeks pregnant so we ended up staying put as I couldn't face putting the house back on the market with a newborn. She's now 14 months and we're trying again. If the next house you move to you're planning on staying in for a good chunk of time then I think go for it and what will be will be.

SunflowerOwl · 14/07/2020 21:32

Thanks Smile

OP posts:
SunflowerOwl · 14/07/2020 21:34

Oh and good luck with your house hunting, fingers crossed it goes more smoothly this time 🍀

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