Moving into rented to be chain free - tips and experiences

[EverydayCook]

We recently lost out on sealed bids for a house we loved, and there’s literally nothing else to buy. We’ve mentally checked out of our current home which is too small, and can’t be extended. Given the frenetic market conditions (multiple buyers bidding on each property) we’ve decided the best thing to do is continue with our sale, move into rented and be chain free, putting us in a stronger position to buy.

The slight problem is that there’s very little to rent, everything is wildly expensive compared to pre-covid, so we’d have to store most of our stuff and squeeze ourselves and the kids into a two bed property to avoid wasting huge sums on rent.

We’re hoping that we won’t need more than six months but have no idea how easy that is to negotiate, especially in this market.

If you’ve done it, what are your top tips, and did it work out?! I’m dreading it but think it’s the right thing to do for the long term.

We did it - would not do it again.

Was supposed to only be a few months - now heading in to month 10.

We thought being highly proceedable would put us in a great position but we've found that it really hasn't helped us at all.

@Hyperion100 - I’m really sorry to hear that. Why hasn’t it helped in your case?

Hi Op, not in your position but ive read a few threads about this issue amd the advice is usually to get registered with letting agents in the areas you’re looking and call them regularly to check in. Apparently a lot of properties are going before they fry to market so you need to be in there early (by the time a property goes on rightmove it’s usually too late).

We also get people posting on our village Facebook page quite often asking if anyone knows of any houses to rent, so that might be an idea too.

Good luck!

[quote EverydayCook]@Hyperion100 - I’m really sorry to hear that. Why hasn’t it helped in your case?[/quote]
There appears to be thousands of buyers in proceedable positions - chain free and ready to roll. :(

I think its better if you're prepared to do it for the long haul tbh - we have signed up for a year.

@Hyperion100 where are you buying?

[quote EverydayCook]@Hyperion100 where are you buying?[/quote]
East London

@Hyperion100 - yes, from what I've heard it's a hotspot at the moment! We're not anywhere near there but we're in a place where no-one wants to leave, so competition for houses is fierce and few come on. I don't know anyone else whose sold and broken the chain here recently though, everyone seems to be in long chains that take months and months to complete (or collapse )

@MummyJ12 - thanks so much for the tips! I'm taking it all onboard. I'm intrigued to know where you are where that rent gets you such an, um, retro house for the money!

@metellaestinatrio - I'm now leaning on the side of 12 months with a six month break clause. Seeing how difficult it might be to secure a not horrible rental I think we need to be prepared that this could be a long game and I can't bear the idea of moving rentals if it takes more than six months.

You’re so welcome @EverydayCook I’m really glad that I’ve helped a little and I hope you can get sorted and be well on your way to your forever home soon.
We are in York. There is absolutely nothing on the market to buy or to rent and everything is an absolute fortune. It’s not even the money as much as there just isn’t the property stock available. I’m hoping that something comes along soon and also hoping that us being in 1989 pays off!!
This is what is on at the moment (the criteria we were looking at.) it’s all let. So even though it’s retro central. We’re really lucky to have somewhere.
www.rightmove.co.uk/property-to-rent/York/4-bed-houses.html

Sorry, I didn’t filter! I was searching for detached or semi detached only as we needed a garage. (There are lots of terraced houses but they are mainly for the students)