Anyone not being picky - and STILL can't find anything?

[PessimisticOptimist]

We've been on the hunt for 18 months. In that time, we've expanded our search area and budget. We've offered on four houses - three times we were outbid by developers and one time they decided not to sell. But nothing has come on for us to view in the last couple of months.

I guess I'm looking for a support group on here to commiserate with me 😂

Everyone we talk to says:

• The market is crazy right now
• It will settle down
• More will become available eventually
• Just be patient

But I worry about getting priced out of the market if we wait too long. How long do we wait for the "right" house?

@DaisyNGO they essentially said "ok, that's nice to know, maybe a bit low, but sell your place then we'll talk". So we're just hoping to sell and that the place we like doesn't sell to someone else in the meantime! Not holding my breath... but hopeful all the same.

What's the implication between that sort of fencing?

@Siouxtse1 I'm totally with you in what you're saying. All we can do is wait and see if there's even any way we can inch closer to that amount then we may as well.

@DaisyNGO we are determined to finally sell our house in London next year after two failed attempts last year. We are moving to a cheaper area and will sell it for way below what estate agents are telling us it's 'worth' to get it off our hands as we still have a cushion and are prepared to have a similar sized mortgage in the new area if it's buying us a bigger house and better quality of life. If other people are planning to do what we are, I can see that depressing the market. But our house is in what has appeared to be a deathly slow market for months and months, even while the STD holiday was active, so we may not be representative of 'London' as a whole.

@Doubleraspberry, whereabouts are you selling? It is interesting you have said that the market has been slow...

mom fingers crossed for you.

double I am ignoring the valuations we had. They are mad. I say this from sold prices in this block of flats. I have no idea what EAs based their valuations on!

now....Londoners alert....don't panic.....

as soon as I saw this headline, I thought

a) probably scaremongering to get govt to give more £

b) IF true, probably Waterloo & City line or Jubilee line

the article actually says Bakerloo or Jubilee line.

The whole thing may mean another drop in London prices, I think.

www.standard.co.uk/news/transport/tfl-financial-crisis-tube-line-closed-bankruptcy-b968230.html?itm_source=Internal&itm_channel=homepage_trending_article_component&itm_campaign=trending_section&itm_content=3

We listed ours recently, have only done a discreet listing as not in a rush. There has been nothing to view at all. Estate Agents are selling stock before marketing, so we had to list to get access to those. But still nothing.

We are picky, we have a very limited rural area and don’t have to move. We could sell our house several times over (we have second viewings booked but are being a bit laid back about it all as we want to stall things) but I can see us pulling it off the market even if we get a good offer as there’s nothing for sale.

I wanted to wait, DH wanted to push on. I think we are wasting our time!

Megan do you mind if I ask why you are moving?

So went to view a house yesterday a real real doer upper (think no kitchen , Avacado bathroom set etc) in a ok ish area ..

Ea emailed me today asking did I want to put in a offer? I was like yes but obviously the work needed will reflect my offer.
Emailed back saying we've had offers over the asking price! What! For literally a home with a postage stamp garden and no kitchen! Madness !

Anyone else feeing 😞😞😞😞???

We did find a perfect bungalow (detached) slightly out of price range and auction.. however they've said they'll take it out for the right price .. but again needs new bathroom and kitchen! So on top of whatever the vendor wants for it , it'll need 20k work done .. and we will be eating beans on toast for the rest of our days 😂😂 someone slap some sense into me .

Hope everyone else's hunting is going better than ours!

@DaisyNGO totally understand why you wouldn't want to rent, it is a hassle. In my case I was very keen to sell our flat and so I was happy (if that is the right word) to go into a rental.

I wanted the flat off my hands as I was worried about all of the legislation around leaseholds, EWS1s etc affecting my ability to sell in the future. I was in a low rise well maintained block with no cladding but I was just nervous and wanted to get out while I could. We also suffered extensively from anti-social behaviour and it was impacting my MH (excessive noise and criminality). Also my freeholder was a nightmare Housing Association who almost derailed my sale and who has been fleecing residents with incorrect Service Charges for years - I managed to get a sizeable refund before I sold.

It sounds as if you have a good management company and system in place so your situation is different and in your place I may well have stayed.

The school mums I spoke with have mainly been looking in areas such as Hertfordshire and Bucks. They've found so many London families have flocked there that prices have gone through the roof.

Re cheaper areas of London: we could move to less expensive areas but they really do not appeal - Edmonton, Romford etc.

A friend of mine works for a solicitor and she reckons that the first day back after New Year the phones are non stop with divorcing couples! They then put their houses on the market, so maybe the housing stock available to buy will increase after Christmas?

@Eastie77Returns, wanted the flat off my hands as I was worried about all of the legislation around leaseholds, EWS1s etc affecting my ability to sell in the future. I was in a low rise well maintained block with no cladding but I was just nervous and wanted to get out while I could.

Same here!!!!!!!!!! Selling leasehold is mental. I am glad I am done, but still worried I can't find a house

@Eastie77Returns, I am looking in Romford. It has some nice parts. I still cannot find anything and I have a budget of £600k.

@DaisyNGO

Megan do you mind if I ask why you are moving?

We could do with another room downstairs for DD’s crap (she’s 2) and another space for WFH as DH is permanently and I am half time. Also both our cats got run over within 10 months and although house is not on the road (which is a 30), we won’t get more unless we are further away from a road.

But we love the house and the area, so it’s got to be both bigger and better for us to move.

@CheltenhamLady

A friend of mine works for a solicitor and she reckons that the first day back after New Year the phones are non stop with divorcing couples! They then put their houses on the market, so maybe the housing stock available to buy will increase after Christmas?

Here's hoping 😀

TBH I'm moving in with family next week and I've put my search on hold. I still get the RM alerts but I'm not really expecting to see anything until end of Jan - June.

I really can't be arsed dealing with the bun fight that buying a house seems to be at the moment.

I wanted the flat off my hands as I was worried about all of the legislation around leaseholds, EWS1s etc affecting my ability to sell in the future. I was in a low rise well maintained block with no cladding but I was just nervous and wanted to get out while I could.

This is exactly why I sold my flat. Along with ongoing freeholder issues.

Megan I am so sorry about your kitties

Seems to be a lot of worry re leasehold on MN at the mo.

Wasn't on my list of worries, also don't mind renting. But I didn't want to liquidate an asset, and feared prices would go up more while we were looking, especially as I knew it would take a while to find something for me - DP less fussy.

@FanGirlX, I am also living with family. Glad I got the leasehold (fleecehold) off my hands. I think I may also stop looking now. It is making me really anxious and affecting my mental health. I just need a break

[quote areyouhavingagiraffe]@Doubleraspberry, whereabouts are you selling? It is interesting you have said that the market has been slow...[/quote]
A naice bit of SE London. We weren't even trying for top dollar either. Basically asked slightly more for a house than asking prices for flats (which were marked sold). Certainly no queues of buyers to view or multiple offers.

@Doubleraspberry, I don't understand. I thought all houses selling like hotcakes

Nope. Ours sat on the market for a month with a handful of viewings and no offers. We have friends who had the same experience in the same area. So maybe look around the areas! Our house has a garden, driveway, big modern kitchen extension and two full bathrooms. Actually tastefully decorated!

@areyouhavingagiraffe

It's not good for my mental health to be dealing with estate agents. They really should be regulated like conveyancers and surveyors are. Estate agents can just do what they like.

@Limegreentangerine but surely the EA has already priced it taking into account the work needed to be done so offers around the asking price are to be expected?

We bought a right fixer upper in the previous recession - needed new bathroom (and loo/bathroom knocking into one room!), new central heating and a boiler, total rewiring, kitchen and new flat roof. We budgeted £40k to do the immediate stuff so we could move in, and subsequently spent another £50k over ten years on improvements. But it meant our house (it's under offer at the moment) was valued at £100k more than the neighbouring houses which were still original elderly owner and hadn't had any work done for years.

As for renting in order to sell/put yourself into a better position - we've had to do it because of relocating for work and needing to be in a certain location by a certain date but it has added extra layers of complication and expense (and I am rather daunted at the prospect of moving again!).

In our situation (200 miles between house we're selling and new area) it does have the advantage of being in the area to get a feel for the place and to be on hand for viewings if something suitable comes up. And hopefully it will mean being able to buy a fixer upper house and do anything major before we move in.

But we are tied into a 12 month expensive tenancy (wanted break clause after six months but was refused).

I’m with you @areyouhavingagiraffe regarding my MH. It’s madness. It’s all the hope and expectation, then the crashing realisation that it’s not going to happen.

And I thought that being in rented and a cash buyer would give me a bit of kudos. It did for a few weeks in September, but I’m up against many other people clutching wads of cash too.

I’m still in the throes of getting divorced with mahoosive issues over some of the finances, trying to sort out an elderly mum.

It’s time to hunker down and enjoy Christmas.

Sorry to go on
As a leasehold flat buying what likely be another leasehold flat

Is it the cladding thing that worries people?

I feel I have missed something in leasehold law. One of the flats I mentioned is having the lease extended from 125 to 999 and then the price will go up. I was happy with 125. I'm happy with anything over 90 and so are the mortgage companies.

Did I miss new legislation, non cladding related? Thanks.