House Prices #3 Property market, buying and selling

Are you...

  • A homeowner with a mortgage fixed for 2 years

    Votes: 92 16.9%

  • A homeowner with a mortgage fixed for more than 2 years

    Votes: 204 37.4%

  • A homeowner not on a fixed mortgage

    Votes: 28 5.1%

  • A homeowner currently looking to move or remortgage

    Votes: 44 8.1%

  • A FTB still saving for a deposit

    Votes: 43 7.9%

  • A FTB with a deposit saved, currently seeking properties

    Votes: 29 5.3%

  • Renting with no intention of buying

    Votes: 11 2.0%

  • Renting but hope to buy in future

    Votes: 64 11.7%

  • Other...

    Votes: 30 5.5%
  • Total voters
    545
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1
Regardless of how much it costs to move, ultimately it still is a cost that has to be factored in. And a waste of money if you don't need to move...

I am defo on the side of the small house in a nice area. Outgrowing your home is all relative and often people don't 'need' to move, they just want more space. We would love a third bedroom but we don't need it, just want one.
 
epl000 said:
Regardless of how much it costs to move, ultimately it still is a cost that has to be factored in. And a waste of money if you don't need to move...

I am defo on the side of the small house in a nice area. Outgrowing your home is all relative and often people don't 'need' to move, they just want more space. We would love a third bedroom but we don't need it, just want one.
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Part of The problem I’m seeing with a lot of two beds where I live is that the bedrooms are so tiny! I’ve seen a fair few where the main room can pretty much only fit a double bed, and nothing else, so a three bed becomes necessary if you own more clothes than can be fit in under bed storage.
some of the houses built in the last ten years are so are ridiculously impractical in this sense- saw a two bed with an ensuite yet barely any wardrobe or storage space and it’s so ridiculous
 
Folkevermore said:
Part of The problem I’m seeing with a lot of two beds where I live is that the bedrooms are so tiny! I’ve seen a fair few where the main room can pretty much only fit a double bed, and nothing else, so a three bed becomes necessary if you own more clothes than can be fit in under bed storage.
some of the houses built in the last ten years are so are ridiculously impractical in this sense- saw a two bed with an ensuite yet barely any wardrobe or storage space and it’s so ridiculous
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Don’t get me started on shoebox sized room being advertised as bedroom 🤔
 
I think often the ladder is a myth. Peoples wages aren't rising much and if they buy a small flat and prices keep rising then moving to a bigger house becomes ever more out of reach. So people really overextend themselves to get the biggest thing they can afford as moving up is often unrealistic.
 
Anne1448 said:
Don't get me started on newly built homes with 3 bedrooms but only 1 can fit a double bed. The rest can only fit a single.

Where the hell are we supposed to put our clothes, desks, shoes, etc?

Another reason why I'll never buy a newly built home. They are such a scam.
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the older houses where I live seem to be the same situation as well, often times with no parking either and no room for anything other than a tiny fridge in the kitchen.
I’ve been put off of so many houses that become available because the layouts are so ridiculous. I’ve also seen a ton of 3 bed houses with no room for a table, so are you just expected to eat on the sofa every night?
 
A 3 bed bungalow that was on the market for less than 24 hours sold for 800k in my village today in case anyone wondered why they could hear crying 😩

I keep hearing that it’s a buyers market now and everything has slowed and we no longer need to offer over asking price and then my village is like some weird sixth circle of hell where prices keep increasing

wouldn’t mind but we’re nowhere near London, I’m up t’north!

make it stop please 😭
 
Meg78 said:
A 3 bed bungalow that was on the market for less than 24 hours sold for 800k in my village today in case anyone wondered why they could hear crying 😩

I keep hearing that it’s a buyers market now and everything has slowed and we no longer need to offer over asking price and then my village is like some weird sixth circle of hell where prices keep increasing

wouldn’t mind but we’re nowhere near London, I’m up t’north!

make it stop please 😭
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That is very interesting. There are always some exceptions to the rule. We live in an area that also holds value when everwhere else lose their value
 
Yel said:
I think often the ladder is a myth. Peoples wages aren't rising much and if they buy a small flat and prices keep rising then moving to a bigger house becomes ever more out of reach. So people really overextend themselves to get the biggest thing they can afford as moving up is often unrealistic.
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I’m so glad the ladder’s not on my radar, if I get to own I will but if not, c’est la vie. Out of curiosity I just looked at my area because I was considering buying a few years ago. House prices up to 2020 were always say £100k and £120k if you had work done. The flat rate is now £200k for ones with nothing done. They’re having a laugh 🤣 100% in 2 years. Not to mention the houses are full of damp, mould and structural issues.
 
Urgh rant alert. Sold house in July, accepted reduced offer after survey beginning of august. Cash buyer, no chain either side and house vacant. Still not exchanged. Is this normal?!

paying out mortgage and bills each month and want it gone asap.
 
May I ask if your real estate agent required a proof of fund?

Because it is strange that a cash buyer would drag you for so long. The longest I've seen exchange of contracts with a cash buyer was 9 weeks.
 
underwhelmed1985 said:
Urgh rant alert. Sold house in July, accepted reduced offer after survey beginning of august. Cash buyer, no chain either side and house vacant. Still not exchanged. Is this normal?!

paying out mortgage and bills each month and want it gone asap.
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Yes. I'd say 12 weeks is entirely normal if not on the lower end of how long it could take. I'd chase your solicitor to find out where they are and the estate agent to find out where the buyer is in the process.
 
underwhelmed1985 said:
Apparently the buyer is chasing according to the estate agent. Just think the conveyancers are being slow
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Chasing what though? Have the searches come back? Have enquiries been raised to your solicitor? Has your solicitor responded? Has the buyer's solicitor reported to them? Has the draft contract and any other documents been agreed and signed in preparation? etc. I'd recommend pinning people down on exactly what is left to be done.
 
Megansnarkle said:
Chasing what though? Have the searches come back? Have enquiries been raised to your solicitor? Has your solicitor responded? Has the buyer's solicitor reported to them? Has the draft contract and any other documents been agreed and signed in preparation? etc. I'd recommend pinning people down on exactly what is left to be done.
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Searches done, I’ve signed the TR1 and contract (like a month ago). 2 weeks ago I agreed to an idemnity for access…just fed up now
 
underwhelmed1985 said:
Urgh rant alert. Sold house in July, accepted reduced offer after survey beginning of august. Cash buyer, no chain either side and house vacant. Still not exchanged. Is this normal?!

paying out mortgage and bills each month and want it gone asap.
Click to expand...

We've offered in July, we are chain free with mortgage offer ready and we are just slowly dragging towards exchange next week (hopefully). I honestly don't know what the conveyancers are doing half the time!
 
What surprises were left in your house when you bought it for you to discover when you got the keys? Mine last year;
- Broken boiler
- Pipes under the sink leaking (previous owners had just put a bucket underneath)
- Skirting boards all rotten and fallen off the wall where the furniture was previously
- Filthy bathroom that hadn't been cleaned since we put the offer in
- Oven - didn't look like it had ever been cleaned
- Outhouse full of junk
- All the bannisters down the stairs were broken, presumably when they were moving their furniture out

I could go on but once my bathroom is sorted I will have spent £10k rectifying the above and I already overpaid for it to begin with
 
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