Wait or buy now for an upsizer

[socialmedia23]

A lot of the focus is on FTB but wondering if anyone is in the same shoes for an upsizer.

London area, looking to upgrade from a 2 bed to 3 bed flat, timing flexible. Dependent on selling a 2 bed flat.

Yes but looking to upsize price and area (alas seems we can’t also upsize actually square footage). I think the leap between flat and house seems to be huge by the way.

I would also caution that a 3 bed flat can be hard to sell down the line as people are often looking for a terrace if they can afford 3 beds. On the other hand, if it is your forever home then go for it! Europeans love nice, wide apartments that are purpose built whereas Brits are obsessed with own front doors and gardens even if they actually have less square footage.

really thats interesting. I feel like 3 bed flats seem to sell more easily than 2 bed flats as they are a lot rarer. Also some of the more expensive ones are popular with downsizers. On an anecdotal basis, a lot of my DH's family friends (who live in the same area) seem to downsize and mostly to 3 bed flats as they are used to living in a house and therefore need more 'space'.

Ooh that’s a good point re scarcity! And I guess with the tax reforms for landlords, an HMO set up is more attractive and more viable with a 3 bed than a 2 bed. Which zone are you? Interesting re downsizers too…It’s refreshing to hear people are considering flats for downsizing. We had a downsizer couple coming to look at our house which amused me (2,200 square foot house) 😅

My DH's family friends are Jewish (as he is Jewish) so i think for them its important to stay in London near their kids and synagogue friends. My rabbi downsized to a small 2 bed cottage but she is the only one i know who did that, the rest went for big flats.

I am in zone 3 north/northwest london