Advice needed please - selling house
Discussion
Hi, not sure of this is in the correct section or if it should be in Finance but here goes:
Long story short - my wife and I want to move house. We love our house but not it's location. We're currently saving hard to come up with the deposit and would be more than happy just to break even on the sale of our house. It's not up for sale yet as we've been decorating and the birth of our daughter took priority. We are also tied-in to our current mortgage deal until August and can't port it. On one hand I'd love to sell it tomorrow even although we'd struggle to get the deposit money together but on the other hand the longer we wait, the more money we can save.
Another thing to consider is that we are due to get free exterior wall insulation fitted within the next few months. All the properties in the area are getting this done so it is going to look like a bit of a building site until it's all completed.
So, what I'd like to know is:
Should I put our house up for sale sooner rather than later? Am I best to wait until the work is carried out in case it puts potential buyers off or use it as a selling point? (It's worth a good few ££££s and is supposed to save a decent amount in heating costs + improved appearance of property) Do I wait until our rate expires?
I keep thinking that if I wait, I'm just risking missing out on a potential buyer. Not that I'm expecting to be inundated with viewers. If it was to sell quickly, I know I'd have to arrange with the buyer to wait until August.
Also, at what point do you start viewing other properties? After you've had viewings of your own?
Sorry for all the questions.
Thanks
D
Long story short - my wife and I want to move house. We love our house but not it's location. We're currently saving hard to come up with the deposit and would be more than happy just to break even on the sale of our house. It's not up for sale yet as we've been decorating and the birth of our daughter took priority. We are also tied-in to our current mortgage deal until August and can't port it. On one hand I'd love to sell it tomorrow even although we'd struggle to get the deposit money together but on the other hand the longer we wait, the more money we can save.
Another thing to consider is that we are due to get free exterior wall insulation fitted within the next few months. All the properties in the area are getting this done so it is going to look like a bit of a building site until it's all completed.
So, what I'd like to know is:
Should I put our house up for sale sooner rather than later? Am I best to wait until the work is carried out in case it puts potential buyers off or use it as a selling point? (It's worth a good few ££££s and is supposed to save a decent amount in heating costs + improved appearance of property) Do I wait until our rate expires?
I keep thinking that if I wait, I'm just risking missing out on a potential buyer. Not that I'm expecting to be inundated with viewers. If it was to sell quickly, I know I'd have to arrange with the buyer to wait until August.
Also, at what point do you start viewing other properties? After you've had viewings of your own?
Sorry for all the questions.
Thanks
D
I'd 100% wait personally
If you can sell in august I'd get it active on the market about 4 weeks before that.
Things are selling quick at the moment (if priced reasonably of course) and I think it would put lots of people off if they had to wait 4-5 months before exchange.
You won't be "missing out" on a buyer, there will always be plenty including when you decide to market in the future.
If you can sell in august I'd get it active on the market about 4 weeks before that.
Things are selling quick at the moment (if priced reasonably of course) and I think it would put lots of people off if they had to wait 4-5 months before exchange.
You won't be "missing out" on a buyer, there will always be plenty including when you decide to market in the future.
There is no right answer.
I'm told that the average time is 6 months to complete so as long as you state your timetable I can't see a huge problem.
The insulation could be an issue but you're only losing buyers who probably would have already bought if you hold off for X months.
Therefore IMO you have nothing to lose by putting it on sooner rather than later.
Except that most will want to exchange with a few months meaning that you will have to move out by XXXX whether you have found a new place or not.
I'm told that the average time is 6 months to complete so as long as you state your timetable I can't see a huge problem.
The insulation could be an issue but you're only losing buyers who probably would have already bought if you hold off for X months.
Therefore IMO you have nothing to lose by putting it on sooner rather than later.
Except that most will want to exchange with a few months meaning that you will have to move out by XXXX whether you have found a new place or not.
Renovation said:
There is no right answer.
I'm told that the average time is 6 months to complete so as long as you state your timetable I can't see a huge problem.
The insulation could be an issue but you're only losing buyers who probably would have already bought if you hold off for X months.
Therefore IMO you have nothing to lose by putting it on sooner rather than later.
Except that most will want to exchange with a few months meaning that you will have to move out by XXXX whether you have found a new place or not.
I'd go with this. If you say: two months to find a buyer, one month of negotiations, searches, surveys etc. and one month exchange to completion then starting now gets you to August on a relaxed timetable although who knows how long finding a buyer will take. I'd say talk to an EA now and mention that August is the earliest completion date. Maybe start viewing houses that you want to buy in two months unless you have a buyer earlier.I'm told that the average time is 6 months to complete so as long as you state your timetable I can't see a huge problem.
The insulation could be an issue but you're only losing buyers who probably would have already bought if you hold off for X months.
Therefore IMO you have nothing to lose by putting it on sooner rather than later.
Except that most will want to exchange with a few months meaning that you will have to move out by XXXX whether you have found a new place or not.
Thanks for the responses. My own thoughts were to give it until the end of May before putting it up for sale. So I think I might go with that. Just wasn't sure if I was way off with my plan.
As for the free insulation - it's a thing the scottish government, local councils and scottish power (I think) are doing. It is definitely free. I was very sceptical too when the letter came through the door but it is 100% free. Seemingly, our area is the first to receive complete funding - most places have to pay roughly £1000. We must live in a particularly s
tty place, lol.
As for the free insulation - it's a thing the scottish government, local councils and scottish power (I think) are doing. It is definitely free. I was very sceptical too when the letter came through the door but it is 100% free. Seemingly, our area is the first to receive complete funding - most places have to pay roughly £1000. We must live in a particularly s
tty place, lol.Just thought I'd post an update on this:
Completed on the sale of our house today. We ended up waiting until after the external insulation work was completed before we put the house on the market, that was near the end of August '14. We then had a couple of viewings with no serious interest until November when a young couple put in an offer which, after some haggling, we accepted. Considering the location, it sold quite quickly so we were chuffed with how it went.
Thanks again for the replies earlier in the topic.
Completed on the sale of our house today. We ended up waiting until after the external insulation work was completed before we put the house on the market, that was near the end of August '14. We then had a couple of viewings with no serious interest until November when a young couple put in an offer which, after some haggling, we accepted. Considering the location, it sold quite quickly so we were chuffed with how it went.
Thanks again for the replies earlier in the topic.
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