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Original poster

Bad time to sell?

12 replies

greenletterbox · 12/12/2023 09:46

Should we hold off selling in the new year and delay until new year 2025? when the market should be more buoyant?

OP posts:
Twiglets1 · 12/12/2023 13:09

greenletterbox · 12/12/2023 09:46

Should we hold off selling in the new year and delay until new year 2025? when the market should be more buoyant?

Yes it's a bad time to sell. But a relatively good time to buy as prices are generally falling or stagnant so if you're moving to a more expensive property, overall it could be a good idea.

You may not get as much for your own property as in a buoyant market, but also you may not pay as much for your onward purchase.

Original poster
greenletterbox · 12/12/2023 15:59

thanks

OP posts:
Nw22 · 12/12/2023 16:02

We actually found the opposite. Wasn’t that hard to sell our house but nothing for sale we wanted to buy

Original poster
greenletterbox · 12/12/2023 17:05

are you just waiting until something comes on the market?

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LindaDawn · 12/12/2023 18:51

i would get my house ready to sell in the new year with agent details already to go in case you see a property you fall in love with. Selling now or waiting another year depends on lots of things. Are you buying a more expensive property, if so then keep an eye on the market but wait as you might find prices continue to fall to your benefit and interest rates fall. It may be the type of house you want rarely comes on the market and you need to be ready to sell immediately.

DrySherry · 13/12/2023 07:29

Yes and no. In theory the market should become an easier place to sell and buy again once the correction in prices has worked through. Your house will likley be worth less than it is now by 2025 - but equally your onward purchase will be too.
If your downsizing I would say do it now and price your property as competitively as possible. If you want to up size then obviously better to wait as 10% less on a bigger house is a lot more cash saved than 10% on a smaller one.

A1b2c3d4e5f6g7 · 13/12/2023 10:59

I don't know, I think it's very area dependant. In our area I've been surprised at how properties are moving very quickly and for more than we paid a year ago when we bought ours. Houses needing work seem to be hanging around though.

I've kept a close eye on the market and spoken to local agents, because we were wondering if we had bought at the peak and to hold off on our extension, but it seems comparables in the market have sold at higher prices after less than a month on the market.

Interest rates should be coming down next year so prices might not fall much more. I think as someone else says it depends on your circumstances also and what you might be buying, how much of a mortgage you might need etc

Sussurations · 13/12/2023 11:03

There’s not a lot on the market, so if you price sensibly and go with a proactive agent you could sell quickly. Finding something to buy might be the issue. Good luck.

FiveShelties · 13/12/2023 11:05

Are you just selling or buying as well?

Original poster
greenletterbox · 13/12/2023 16:45

Moving cities which gives us the opportunity to reduce our mortgage which we are a bit of a slave to, so maybe sell for 625 and buy for 525

OP posts:
Twiglets1 · 13/12/2023 16:46

greenletterbox · 13/12/2023 16:45

Moving cities which gives us the opportunity to reduce our mortgage which we are a bit of a slave to, so maybe sell for 625 and buy for 525

Oh if you're trading down then it is definitely a bad time to sell, yes.

Original poster
greenletterbox · 14/12/2023 10:27

thanks, i kind of thought that, 2025 it is

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