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Should we wait till neighbours have sold?

7 replies

mightyapple · 20/09/2021 22:10

We took our house off the market 9 months ago - we'd had an offer but couldn't find anywhere in the (very large) area we would be happy to move to, and the buyers wouldn't wait any longer. So we put plans on hold, hoping it would pick up later in the year.

Our area hasn't been particular hot during the housing boom, even though it is usually as we're just outside London. It took a few months to get our offer.

Our next door neighbour was also on for sale last winter, then changed agent in the spring. They started at the same price as ours, then dropped their price a few weeks after changing agent, but is still for sale now. It is a very similar house although there are some differences - ours has a garage, theirs has been converted; ours has a modern finish, theirs is quite dated.

Another neighbour further up the road is on the market but has been SSTC for a few months. Again it's a similar house. We're on a fairly small road.

We want to go back on the market again but can't decide if it's worth it given the neighbours are trying to sell also.

DH is worried that we'll have to go on at the lower price like next door, even though the offer we accepted before was £20k higher. Which will then impact on what we can buy. Everywhere else seems to have increased in price, but not here it seems. In our new area, there are a few more properties coming onto the market now but not a lot compared with a normal September (agents have said it has calmed down though).

What would you do? I guess my concern is that if we go back on and don't sell, we'll be hanging around on the market for ages again and potential buyers get suspicious when that happens (I know I do).

Alternatively we wait till spring but we've been planning a move for two years and just want to go! Urrgh. Anyone have any thoughts? We keep going round in circles.

OP posts:
BhortaBhorta · 21/09/2021 06:47

Easier to sell in spring I think. If you aren’t desperate to move, more likely to be stuff coming up for you too. Take the time to spruce yours up and do any little jobs that need doing and improve kerb appeal.

I wouldn’t worry too much about what the neighbours is selling for, there’s is priced to reflect it needs doing up/refreshing.

Ifailed · 21/09/2021 07:05

If your neighbours sell at the lower rate, this will be easy for any potential buyer of your property to find out. Why not just go back on the market at your previous price, if you get no interest then you know that it's the price that is the problem?

mightyapple · 21/09/2021 10:31

Thank you for your replies, both with very valid points!

OP posts:
Lelliebellieboo · 21/09/2021 10:41

I would wait.

I put my house on the market at the start of October last year - we were badly hindered by the November lockdown, followed immediately by the Christmas period. No one wants to start looking for a new house in the run up to Christmas - and if there is the potential for a firebreak lockdown occurring, then you could just end up with your house hanging around on the market.

I genuinely think that if we had put our house on the market earlier, it would have happened much quicker and we wouldn't have had to lower our asking price.

If you haven't yet found anything that you like the look of, then you may as well hold tight for another couple of months.

SarahBellam · 21/09/2021 10:53

Now that the stamp duty holiday has ended a lot of heat has gone from the market and prices are less inflated than they were a few months ago. I'd wait until you start seeing properties you'd like to consider coming on the market and then price your house so they were attainable.

friendlycat · 21/09/2021 11:53

Personally I would wait until the early Spring when there will be more buyers for your property and more properties for you to buy.

In the lead up to Christmas so many people defer their decision on looking for a new home and sit tight if they don't have to make a move. A new year brings new beginnings and hopes for the future and is a much busier market for you both ways.

As mentioned above, I would use these next few Winter months to do any of the small jobs to make your property as attractive as possible. Declutter once again and throw out things you don't want or need, ready for that sale board early March.

You've already got neighbours trying to sell, you've already tried to sell and putting your property on in the lead up to Christmas (the ads have started already) in my opinion just isn't the best of times, especially since it's not urgent that you move.

Lampzade · 21/09/2021 13:03

I agree with other posters. Hold out until the Spring and sort out little jobs such as varnishing, painting, decluttering etc.

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