To sell, rent & then buy again?

[gemloving]

We're in south east London and I've been browsing and looking around and there isn't much on the market. We're looking to buy a project house and do it up. Our neighbours sold their house within 3 days above asking price.

We're having pictures taken of our property this week for it to go on the market next week.

I've now been thinking to just sell our house and rent while we continue to look for a house without so much pressure & then continue to live in that house until the one we've bought is done up enough to move in.

Has anyone done this? Is there any repercussions to doing that? The equity will not be used for anything but the next house purchase.

If you’re comfortable renting then do it.

It means you’ve no chain to speak of, and puts you in a good position for your onward move.

It also means you won’t have the stress of having to be out of the property by midday as you could move leisurely both into and out of the rental property.

Might got a tad more on rental and moving costs, but I’d do it that way if I could.

We did just that last year. Very stressful, it is not for the faint hearted!

Finding rentals (with pets) was a nightmare and we had to resort to bribing the EA with beer to consider us first. Eventually he found us a very overpriced dilapdated place. The situation was made worse by all the flooding last winter.

For the new house being in rented was a big bonus and the buyers selected us as we had no sale to complete. We did regualr zoom calls with the people we were buying from just to keep things ticking along and add a more personal feel for all of us.

We moved into the new place about half way through our rental tenancy which cost us a quite a bit in wasted rent but was worth it for the security.

Main piece of advice is get the rental sorted early it makes like a lot easier and store anything not going into the temporary rental with the removal company to make the ongoing move much simpler.