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?

@Kittley

Totally relate to this! Sold our house in West Sussex 5 months ago as relocated to where we are now in East Cheshire. We're in a rental which is really not in the best of state as had limited option as we have a cat. Been actively looking here to buy for 5 months. Viewed 24 houses already, offered 4 and keep getting outbidded way above asking price. Another issue we didn't realise how much percentage of the houses here compared to southeast are leasehold despite it being a detached, semi or terraced and we only want to buy freehold so that reduces our options even more. Now considering relocating to East Midlands for many reasons where my DH grew up and we will have a much bigger search area there.

Well, you're in good company. We're in rented accommodation and we've just found out our landlord intends to sell next year. Bleh!

I'm sorry you haven't had the best of luck in the hunt so far. Someone else in this thread used the word 'carnage', and I think that's how a lot of us feel right now. No advice - just hope it gets better for you x

@sarahc336

Just popping over to rightmove to just double check an estate agent has t added a new property in the last 2 hours that I've been busy 🤣🤣🤣🤣🤣

Don't forget to expand your search to places you don't actually want to live in case a decent house comes on in a sketchy area.

That way, you can spend time convincing yourself that the neighbourhood really isn't that bad (just ignore the broken bottles and graffiti, obvs).

We have been trying to move for coming up to two years, been outbid a few times and also had seller pull out days before exchange. Currently in process of buying a lovely place which we found after extending our search radius about 30 miles. It was under offer when we went to view and we offered asking price, are ftb and had a mortgage offer in place so feel it was just down to luck in the end (and of course it still could all go tits up yet!). An identical place a few doors down has just come back to rightmove after selling shortly before we had our offer accepted. I guess the sale fell through but it has been relisted £20k more since april!

Anyway I empathise and the whole bloody thing is anxiety-inducing. I used to dream of the day we could afford to buy and now we are finally here it is not the lovely experience of leisurely wandering through 20 different properties that tick most of the boxes and going back for a second or third viewing just to make sure before making an offer. Grateful to be able to buy but still!

@Kittley, leasehold isn't always bad. It's standard for many houses in the NW and usually isn't anything like the modern leaseholds you get with extortionate - and ability to increase rapidly - charges you get on those.

Another day, and no suitable houses listed. Two new places added at the top of our budget, one needs an extension and complete renovation as I don't think it's been touched since the 60s and the other is teeny tiny and £100k over the the sold price of exactly the same property next door, which had a better layout, garden and finish. Really struggling to keep optimistic at this point

@PessimisticOptimist 🤣🤣🤣 oh yeah I've already found myself doing that, or convincing myself that do I really need parking for our two cars, surely we'd be able to find parking somewhere on that busy highway at rush hour 🤪🤪🤪 (actually can't cope 🤣🤣🤣)

Same here. Went under offer 7 weeks ago and now the buyer is getting twitchy. I'm going to give it 2 more weeks and take it back off the market until spring. The lack of supply is shocking. I want a detached house. Three or 4 bed in a choice of two market towns. Absolutely nothing in the last three months that isnt on a main road. It's crazy! Rethinking that extension again...

[quote sarahc336]@PessimisticOptimist 🤣🤣🤣 oh yeah I've already found myself doing that, or convincing myself that do I really need parking for our two cars, surely we'd be able to find parking somewhere on that busy highway at rush hour 🤪🤪🤪 (actually can't cope 🤣🤣🤣) [/quote]
@sarahc336 No, but seriously 😂

And @Dmsandfloatydress, that sounds super stressful. I'm in rented right now which is stressful enough, but I can't imagine having twitchy buyers laying on extra pressure.

Though to be fair, when I finally find a house I actually want, I'll probably be that twitchy buyer 😬

Here in Edinburgh, houses are mostly sold with sealed bid "offers over". At a certain time your solicitor submits your best and final offer and the best bid wins. Honestly it would make you weep!
A relative tried to buy a very mediocre (their words) starter house in a not very nice nearby commuter town. They put every penny into their best bid which was way way above the asking price. There were over 20 people who bid more than them.

My neighbour is selling and in 2 days I would say there have been 50+ viewings. He must be exhausted. The house is nice, but nothing special.

I am in rented after selling, and have pretty much given up!

The second viewing on my compromise house ain’t happening, the EA has called to say the vendor/landlord has decided to rent it out again.🙄

The existing tenants are moving out this weekend, I did consider asking to rent the property and hope they change their mind! At least will get out of this crummy flat…but it is open plan kitchen/ living room and I wanted to close the kitchen off, doubt a LL would bother doing that for a tennant.

@OakPine

Here in Edinburgh, houses are mostly sold with sealed bid "offers over". At a certain time your solicitor submits your best and final offer and the best bid wins. Honestly it would make you weep! A relative tried to buy a very mediocre (their words) starter house in a not very nice nearby commuter town. They put every penny into their best bid which was way way above the asking price. There were over 20 people who bid more than them.

My neighbour is selling and in 2 days I would say there have been 50+ viewings. He must be exhausted. The house is nice, but nothing special.

I am in rented after selling, and have pretty much given up!

It seems like there is just a huge surge in demand for certain kinds of houses and the market is responding in a predictable way.

however other types eg city flats, seem to be inflating fairly normally over last 2 years which makes me wonder how the dust is going to settle. Maybe the new demand is permanent?

This is what worries me @lassingd.....But how is it sustainable. Something has got to give!

Ok new dilemma. A house FINALLY came on the market today, and I'm seeing it tomorrow.

It's on a street I love, and it seems to tick all the boxes.

Issue? It's £40k more than I wanted to spend. Not £40k more than I can possibly afford, but more than I earmarked.

That puts it at the tippy tippy top of our budget but it had an extension done last year and was completely rewired this year. It could definitely be a forever house, so we could save £40k eventually by not having to move again w/ stamp duty.

Houses only come up on this street every 2-3 years. Do I stretch to the tippy top (but not overstretch)? Or do I get something a bit more comfortably affordable with some wiggle room if we uncover issues after we buy?

WWYD?

My positive answer would be just up your budget to cover it. My realistic answer would be; if it’s lovely expect someone to outbid you 🙈

@FreeBritnee

My positive answer would be just up your budget to cover it. My realistic answer would be; if it’s lovely expect someone to outbid you 🙈

@FreeBritnee It seems like no matter how high I up the budget, I get outbid. Where are all these deep pockets coming from? 😩🥴

I'm in the same boat!

Long time renter with a healthy deposit plus my parents will give us a lump sum (the old "you might as well have it when you need it, you'll get it soon away").

First house we offered on, asking price - I was ecstatic when they accepted our offer. A week later they pulled out having decided not to move.

Everything we've offered on since, has gone for way over asking price and out of our budget. I'm still particularly bitter about the last one. It was perfect, and I loved it.

So back to searching, and there's absolutely bugger all out there to even view, and what there is either rubbish or massively over-priced with the EA's encouraging bidding wars!

How's everyone else's search going? Anything new come on the market that has potential?

@PessimisticOptimist

Ok new dilemma. A house FINALLY came on the market today, and I'm seeing it tomorrow.

It's on a street I love, and it seems to tick all the boxes.

Issue? It's £40k more than I wanted to spend. Not £40k more than I can possibly afford, but more than I earmarked.

That puts it at the tippy tippy top of our budget but it had an extension done last year and was completely rewired this year. It could definitely be a forever house, so we could save £40k eventually by not having to move again w/ stamp duty.

Houses only come up on this street every 2-3 years. Do I stretch to the tippy top (but not overstretch)? Or do I get something a bit more comfortably affordable with some wiggle room if we uncover issues after we buy?

WWYD?

In your shoes...... If I totally loved it, then I would go to the very top of my budget. Especially as it's a forever house. The offer would be subject to survey anyway.

These houses that are going way over the listed price, I assume the final price is above home report value. Buyers then must have to pay the difference up front as they won't get a mortgage on what they've offered?

There must be a lot of deep pockets!

Good luck to all trying to buy in this market. Prices have increased where I live but I don't think the market is a crazy as some are experiencing.

Just go with an open mind @PessimisticOptimist. You might just get into the house and not get that 'feel'!
But if you do, just bid what you are happy to pay. What do you know about the vendor's position? Emphasise anything that might make you more attractive to the vendor (don't mind waiting to complete chain/ have a large deposit so unlikely to get turned down for mortgage- type stuff). And good luck!

@PessimisticOptimist

How's everyone else's search going? Anything new come on the market that has potential?

Nothing here. Absolute crickets. We only went on the market yesterday though and we have a flat to sell so expecting it to take a while.

Having said that, I've been looking at two of discounted as they were overpriced for the state of them, but one has been reduced and still not shifted, and the other is one with an agent who admitted it was overpriced. We might consider them if we go under offer and they're hanging around still.

I ust can't see how on earth will this change! About to go into rental too.
Seems like the only solution is for the Govt putting restrictions on the very cheap mortgages - will reduce absolute crowds of buyers.

Yes very unpopular, but surely even worse for the prices sky rocket, and that will stall people higher up the ladder too?

*to put restrictions

@catsjammies, with regards the flat, I know people are saying the flat market is well...flat, but honestly mine sold within days. I got a really good price for it. It does take longer to go through enquiries and I am not going to lie it was painful. But I have come out of the other side. However, pulled out of my Purchase and now been staying with folks for 7 weeks. Bugger all out there at the moment

@PessimisticOptimist, this is the first week I have had ZERO viewings......To be honest I am now looking carefully at adverts, floorplan etc. Prior to that I was seeing anything, I even saw a house without central heating a few weeks ago, I didn't notice until the viewing. I know that's no big deal but I need to pick these things up from the advert, and not just the viewing, ha ha. Anyway, I dunno guys, it's just shit and nothing out there. Rather like my love life situation