Sold my property but not sure what to do next while I find somewhere to buy

[Redqueenheart]

I sold my London flat faster than expected (cash buyer who is not in a chain) and everything is progressing at a really quick pace.

But I have no found anywhere to move to yet and I am still looking at a couple of areas I want to relocate to. I want to move to the seaside to semi-retire and still trying to decide whether I want to go for Folkestone in Kent or a Scottish town like Dunbar or Troon.

What would people do in this case?

Try to find a short-term rental (I really don't want to be tied up for a year into a rental property) and put most of my things in storage?

Try to convince a friend who has a spare room to let me stay with her for a couple of months (that might not even be an option as I would not want to impose on her) while I house-hunt?

I am so, so happy to have sold this flat because flats in my building could not be sold until a few months ago ( we finally managed to get a fire safety EWS1 certificate in place showing no cladding/no work required) that I don't want to do anything to jeopardise the pace of the sale but I am also starting to realise I need to make a move on to get myself somewhere to live faster than expected!

Any advice?

Short term rental. Negotiate a holiday let price for 4 months. (Or however long you need)

Camper van?! Tour the places you want to settle in.

Thank you both.

@B1pbop I am such a bad driver that I would crash the van without a doubt but that's an original solution :)

@PotteringAlonggotkickedoutandhadtoreregister yes a short term rental is probably the most likely option plus it would help me be sure that I have chosen the right location to buy.

Put your stuff into storage, then consider housesitting jobs to try out each of your target areas.

Short term rental in a tourist spot with limited winter interest

Stuff in storage. Air BnB type holiday let linger off-season rental - a month to 6 weeks in each place and in at least 2 seasons, so you’re not comparing winter in Scotland with spring in Kent, or whatever.

Exciting!

Rent then buy something when the prices crash!

@2bazookas
''Put your stuff into storage, then consider housesitting jobs to try out each of your target areas.''

That is a really good idea.

I also like the idea of doing short lets around the various area I am considering to decide on which one is the most suitable.

I have actually stayed in Folkestone for a few weeks at a time in the spring and winter so I know the town quite well but I have not stayed in my other potential locations for long.

@NoSquirrels
''Stuff in storage. Air BnB type holiday let linger off-season rental - a month to 6 weeks in each place and in at least 2 seasons, so you’re not comparing winter in Scotland with spring in Kent, or whatever''

''@SavingsThreads
Rent then buy something when the prices crash!''

Indeed. I know it sounds awful but I probably will benefit from the likely slow- down or even reduction in house prices.

I've sold and am going into rented on a six month contract. I'm renting in one of the places I'm thinking of moving to, to see if I like it. I like the house and the area, and am going to take my time finding somewhere to buy as I want to live there for a long time. I think you are in a good position.

No useful advice about where to stay but interested in your criteria as to why these three places?

I really like Dunbar so not in anyway dismissing your choices. Just wondering where else might appeal and what you need in an area.
I think Berwick on Tweed is also lovely.

If you don't know where you want to be yet, you really need to rent in those places and try it out... even better over the winter in seaside towns.

@donttellmehesalive
''I've sold and am going into rented on a six month contract.''

It's good to hear that this is a possibility. Can I ask if you went through an estate agent to find your rental? are they happy to rent for six month only?

@Calmdown14
No useful advice about where to stay but interested in your criteria as to why these three places?

My main criteria was a seaside town (I was born and raised in a seaside town and want to go back to this type of environment to semi-retire) with reasonably priced properties, quiet and reasonably safe within commuting distance to a big city so I can still have access to things like galleries and museums.

I thought Margate, Ramsgate and Hastings were a bit too edgy for me. I can't afford Brighton or Whistable. I like Folkstone. Deal is another town in Kent I would consider.

Since I work remotely I thought I would also get out of my comfort zone and consider Scotland as I really like the people and I think it is a beautiful place. I liked the look of Dunbar and it is supposed to have a lovely community feel and is easy to commute from for Edinburgh. Troon is another nice place and it is relatively easy to commute to Glasgow. Fife seemed interesting too but potentially a bit isolated.

I don't need to worry about schools either.

Hope that makes sense! :)

Yes i went through an agent. The listing said twelve months but had been on for a week or so, so I rang up and offered six with possibility of extending. If I found a house tomorrow, with the way the market is, it could take longer than six months to go through though. Selling my house has taken seven months from offer to completion. I've invested my equity and should just about make my rental payments back in interest.

Have you thought about the north east? Places like Whitley Bay would properly hit your criteria of seaside / near a city / east commute. House prices a lot lower than the south east!

@donttellmehesalive thank you! that's really helpful. I am glad to hear that it is possible to negotiate a six month rental :)

@PotteringAlonggotkickedoutandhadtoreregister thank you for the suggestion! I will look it up.

If you want to go coastal and don't mind the cold, have a look at Northumberland - Amble, Warkworth, Alnmouth, Beadnell, up the coast to Berwick. Alnwick is in land but has lots of facilities, seven minute drive to Alnmouth beach. Airport 34 miles away at Newcastle, train station at Alnmouth, direct 3.5 hours to London. I'm a Londoner living here and it's not on the flight path, fantastic beaches, nice people and communities.

PS I house hunted in Broadstairs/Margate/Ramsgate - I agree with it being edgy. I also went to Exmouth in Devon - railway station to Exeter hub, nice atmosphere but I'm 65 and not the fittest, the hills nearly killed me.

We've sold and done short term rentals while property searching twice, and it worked well for us. I think the advice to rent in the areas you're considering buying in excellent advice. What a great opportunity to try before you buy! Exciting times ahead for you OP, enjoy your semi retirement!

@ThatsTheWayIHikeIt thank you for your good wishes!

@Salome61 yes I thought Margate and Ramsgate had some interesting activities (I am an artist as well so there is a lot going on there art-wise) but I just not could see me growing old there.

I will have a look at Northumberland. I don't know it at all but it is good to hear such good reviews of the area. I don't mind the cold. One of the reasons I wanted to move away from London is never having to go through another heat wave stuck in the city!

I started making enquiries to rent for a few months in Folkestone then I will investigate further all the places I had shortlisted to buy and will also give Northumberland a visit.

It might be more sensible than rushing to buy somewhere and also make more sense if house prices are about to reduce a bit.

Thank you so much everyone for all the suggestions!

We’ve sold and gone into rental. The agent helped us find the rental, it was in their interests to get the sale through. We are also relocating and wanted to take our time. We do need a sixth form though.

Like a pp, we put the money from the house sale into the highest interest accounts we could find and should just cover our rent which is nice.

I don’t mind renting, we did it for a year in 2008 when we left London and it worked out well for us.

@Redqueenheart We’ve recently sold, rented and bought in a seaside town near to Troon 😊

Being chain free was the whole reason we got our house so I’d encourage you to sell yours and rent if you can 👍🏻

Im not sure if it was just our letting agent that we went through for our rental specifically or if it’s a Scottish thing but we could only get a month to month rental so it worked well for us. We only ended up there 4 months.

Good luck with the hunt 😊

I also recommend joining the Facebook community pages for the area you are interested in - I was surprised at the Exmouth community page, really put me off.

Unfortunately I didn't have enough to buy somewhere I could imagine myself getting old in at either location, definitely couldn't afford to go home to Twickenham, so I've stayed in Northumberland. Now I'm older I accept the lack of facilities locally, it's a good swap for the daily beach walks and very nice people. Lots of local artists, and the Laing in Newcastle has great exhibitions on.

I sold and went into rented - for a bit longer than I'd have liked - and the vendor chose me over four other offers as I was a 'cash in the bank' buyer.

Make a list of your must haves, nice to haves, and definitely don't wants. I had about twelve places in mind at first - Swanage, Worthing, Hove, Leigh on Sea - but having a local train station and airport within easy reach won out in the end.

I live near Folkestone and love it - it becoming up and coming and there are some lovely old converted buildings in to high ceiling bay window flats - thats what I will be buying when I retire. Good luck

@Salome61 yes joining a Facebook group is a great idea. I did that for Folkestone, I have been lurking on the ''we love Folkestone'' Facebook page for two years :).... Makes for fascinating reading! I will do that for the other locations I have in mind too.

@Sofachoices yes I think being chain free and having cash in the bank will be an advantage. I am glad you found the perfect seaside town for you! Everyone seems to have only positive things to say about Troon and nearby areas.

@Accountsdept I am very fond of Folkestone and even miss the pushy seagulls! There is some really great architecture there. I found myself walking down Cheriton on more than one occasion and thinking I want this flat and this flat (such a DFL cliche...)...