Waiting for your dream home

[MusGus]

Did you hold out long for your dream home?

There is a particular area I fell in love with and one of the estate agents I visited said a property there will be coming on the market in about 3 months. I know there will be loads of interest plus the stamp duty tax break will be ending in March meaning not a lot of time to go through the whole buying and completing process. Would you wait or just get on with finding an alternate ‘dream’ home.

The thought of buying an OK house then week later your dream home coming on the market is terrifying

If you're in a position to wait three months then wait. Three months in a home buying scenario is a very short space of time and even an easy purchase is gonna take long enough.

But if you're desperate to move and don't really mind and something else great comes up then why wait

We are not desperate to move but really worried about a bidding war and the process taking us over the 31 March 2021 deadline.

As it is a sellers market we are more worried about bidding wars. We couldn’t afford a bidding war.

Do you know any more about the property or just that there will be a property? I'm not sure I'd hold on if I didn't know more about it as there might be a deal-breaker that makes it not a dream home (despite the great location). If I knew it ticked the boxes I'd probably hold on, while keeping an eye on Rightmove etc for other potential places.

If you do decide to wait, I'd get everything prepared so you are in a position to make a strong offer and be immediately proceedable; mortgage AIP, credit check to ensure nothing erroneous will cause you issues, solicitor chosen etc so you are totally ready to go.

If it’s only just affordable with the stamp duty break, I don’t think I’d wait. As you say, there could be a lot of interest and buyers in a better position. So if you actually need to move, I’d just crack on with it.

Thanks Awkward. I’ll take onboard that advice. Makes sense to get all ducks in a row.

Yes I know the property and have looked at it on google maps, looked at similar properties on the same street that were sold recently. Floor plans same according to EA. It really does tick all the boxes for us and I can imagine living there for the next 30 plus years. I’m just worried that someone will have loads of money - either cash or to offer way above asking price.

You’re right about just doing the best we can to be attractive buyers.

I would be scared they would end up not selling - but also if it’s dream, I’d probably wait and go for it tbh. There’s always something else if it doesn’t work out.