To wait...or not to wait?!

[Elllie]

Arrrrgh my head hurts from hours on the computer looking through reems of property details.
My dilemma is this: we just sold out 3 (really 2.5) bed house to move to further out into surrey for more outdoor space, good schools atc....
NOTHING suitable to buy has come up in the last 6 weeks - looking for 4 bed family house in two/ three different catchment areas.
A gorgeus house has just come up at the lower end of our budget and has only a little more room than our old house. It is 4 beds, but the 4th is like a closet. There is no extra shower/WC in the teeny loft conversion. However, for catchment, location and garden, and curb appeal - it ticks all the right boxes. We'll just be a bit stuffed if guests come to stay.
It is smaller than we had hoped to get, but gorgeus. If you were in my position, would you wait for something else to come up, or take the smaller than expected property?
I wish I had a crystal ball
At the same time, this is all causing such a headache, I'd love to just get something sorted.

I wouldn't compromise if you can wait a while renting. This is really the tail end of the spring period and more stuff will probably come on in Autumn. And if you can find somewhere to rent in the catchment area you can always move further out once your child is in the school you want

I agree with Ladybiscuit. Things don't move much over the summer so there's likely to be a bit of movement in September, particularly when people have a better idea of what the economy/ CGT/ HIP situation is. Unless it is reallyyour perfect house, I wouldn't offer for anything atm.

Also prices aren't really changing at the moment and aren't likely to much for a coupleof months so you won't be shafted pricewise by waiting.

Thanks. We had considered the rental option, but its around 2000-2500pcm for a normal house at the moment where we are looking, and for a year, thats a lot of money.
I'm also worried that if I leave it, we'll miss the school application deadlines (approx. Sept - Jan) when you factor in time to exchange and complete.
I'm soooooo bored out here in the US that I'm even beginning to think small is good - just get me back to the UK.

Could you extend the house at all?? Sounds a shame not to go for it if you like it so much.

If the house you like can't be extended easily then you could rent for six months. You can still be in the right place for schools if you're renting you know.

I just think if you go for the 'it'll do' place you'll end up continuing to scour the property websites and kicking yourself when the 'right' house comes along.

Moving house is very expensive - add up the costs of moving twice vs renting for six months - I guarantee you renting will be cheaper

Wait I suspect in a few months you will have more choice and prices will be lower Win Win