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Original poster

Is it the right time to move

11 replies

Stumpy54321 · 07/06/2024 21:01

Been planning on selling up and moving this year. Had an agent round, valuation little better than expected. We were on holiday this week so was gona wait until our return to proceed. Whilst away our next door neighbour has put their house on the market, we knew they were planning on moving but had said would be next year. Now wondering if this a good thing or not? Should we go ahead or wait and see what happens with their sale? Would potential buyers see this as a good thing?

OP posts:
good96 · 07/06/2024 21:18

We’ve been on the market for two weeks now and had two viewings and currently in offer negotiations. I’m not sure it’ll go anywhere though as they offered £75k below a very reasonable asking price.

My friend has been on the market since October 2023 and has not had a single viewing! House in great condition but saturated in an area of new builds.

Original poster
Stumpy54321 · 07/06/2024 21:26

good96 · 07/06/2024 21:18

We’ve been on the market for two weeks now and had two viewings and currently in offer negotiations. I’m not sure it’ll go anywhere though as they offered £75k below a very reasonable asking price.

My friend has been on the market since October 2023 and has not had a single viewing! House in great condition but saturated in an area of new builds.

Thank you for your response. It must be hard when selling when there’s lots of new builds around.
there’s currently 4 houses for sale on the street. We live in a nice area only wanting to move to be closer to family. Of the 4 for sale 2 have been for least 6 months.

OP posts:
Flubadubba · 07/06/2024 22:22

Same thing happened.to us with our neighbours when we sold last year. They wanted to move back to their home country, and we had to move for family reasons. It didn't make any difference at all.

Ironically, when we bought that house, next door was up for sale then too- moving closer to grandkids in one case, and moving for work in the other. It didn't make any difference in us buying it.

BG2015 · 08/06/2024 08:05

Same thing happened to us.

We were number 5.

No 1 sold last October, no 3 moved out in April and us and no 7 moved out during May.

We've all moved for different reasons, one family upsizing, one family moving closer to school, and 2 of us downsizing.

Not made any difference.

MurielThrockmorton · 08/06/2024 08:08

How does your house compare to theirs in terms of size, is it the same? And also state of repair etc.? If viewers saw both of the houses, are the reasons to prefer one or the other?

Original poster
Stumpy54321 · 08/06/2024 09:02

MurielThrockmorton · 08/06/2024 08:08

How does your house compare to theirs in terms of size, is it the same? And also state of repair etc.? If viewers saw both of the houses, are the reasons to prefer one or the other?

Hi. Our house has an extra reception room and bedroom due to an extension. So ours would be more money. Houses are different styles although ours is in good order from the photos of the neighbours I’d says there’s look more show homey whereas ours is lived in but clean and tidy.

OP posts:
Caitlin991 · 08/06/2024 09:38

I would probably wait until the sale of the neighbour was complete. It’s put me off viewing houses in the past when multiple houses close by (ie within a few doors of each other) have gone on the market at the same time as I can’t help wondering if there’s a reason why (nuisance neighbour for example)

Original poster
Stumpy54321 · 08/06/2024 10:39

Caitlin991 · 08/06/2024 09:38

I would probably wait until the sale of the neighbour was complete. It’s put me off viewing houses in the past when multiple houses close by (ie within a few doors of each other) have gone on the market at the same time as I can’t help wondering if there’s a reason why (nuisance neighbour for example)

Yeah that’s what’s worries me. All the houses are 4 bed family homes but the children are now grown up and moved on that the owners are downsizing and to a degree another reason why we are moving. Just we are all doing it at the same time.

OP posts:
KievLoverTwo · 08/06/2024 10:52

Two houses for sale is not a red flag to me.

I would worry that potential purchasers point to the showroom quality of next door to try to barter the price down.

rainingsnoring · 08/06/2024 15:07

So you are downsizing and there are currently 4 houses for sale in your road?

On balance, I would get on with it as I think the market and home prices will be worse/ lower next year. It does mean that potential buyers will have more choice, which improves buyer's negotiating power on price but I don't see this situation improving. A lot of sellers are marketing at much higher prices than the market can support which generally leads to a lower final sale figure or not selling at all. A particularly extreme example of this is in @good96's post (her friend who has been marketing since Oct 23 and not had a single viewing). I would avoid doing this, research what is actually selling carefully and market at a more realistic value than your neighbours whose houses have been on the market for 6 months.

MochaMad · 08/06/2024 22:14

My house has been on the market for 11 months. I’m sick of it. We get about 2-3 viewings a month.

We have just changed agents and dropped the price. If we have no offers in 6 weeks I’m going to drop the price another 25K and then just hold my nerve.

Where I live the market is stagnant. I’m watching the other houses on the market and it’s bad. My neighbour is also about to put hers on, so I’m waiting to see what price she goes on for before I drop my price.

It’s funny times and I wish we didn’t need to sell right now. But it may be even worse next year…

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