Sell up now and wait for desirable property ? -Risks ?

[Mixednuts]

Hi,

We missed out on a property that was ideal for us (outbid) . Now after getting over the disappointment we have to turn our attentions back to the offer we have on our current property.

We have an offer which is kinda OK and acceptable for our home and we have been told that we can move into my wife's parents house until another property becomes available .
Our property was on the market for over 12 months so offers are at a premium.
I have two kids and it would be cramped but I think we could get by for a few months if we did decide to move in with the in-laws, not ideal, but an option.

So my option is sell now-put house contents in storage-move in with in laws

My concerns about doing this are :

• The area I am looking to buy in never really throws up good properties so I could be living with the in laws for 6-12months

• The market turns and I end up buying a property that is worse that what I currently have due to prices going up.

• God forbid anything happens me during this interim period and wife and kids are left with no home.

• I am waiting more than 3 months for a property and have go through the whole mortgage application again

positives :

• We are ready to move quick if a property becomes available and not in a property chain

• We can save more due to no mortgage (we will pay in laws and storage costs but still save approx €750pm)

I would love more input and opinions if you have any.


Ta


M.

 

[Vanilla]

Depends on whether your reasons for leaving the house you have are valid and not going to change.

If so, sell. And keep/buy life insurance.

 

[burmo]

Another danger is a euro currency collapse. Probably not likely in six months, but who knows beyond that.