Am I bonkers for wanting to move now?

NotAGolf said:
Thanks for the advice all. My wife is very much in the "go for it" camp, I'm the one who's dragging my heels. Maybe I'm subconsciously trying to come up with excuses to put off moving just to avoid the stress/hassle of moving :D
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Short term pain for a happier and better life sounds like a decent outcome to me. We'll come to your housewarming party.
 
panthro said:
If you can afford it then move now. Don't waste your life speculating when you could have the next 1-2 years in a place you will enjoy living in.
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I imagine the first year or two after moving in will be a stress-filled, tiredness inducing period of time rather than an enjoyable one, but I understand the sentiment :D

I'm sure we will enjoy it after we iron out all the kinks and get it how we want it.
 
It's a few months since I started this thread and I'm still none of the wiser!

There's barely anything coming onto the market at the moment. The odd place that is coming on is clearly because the owner has died or moved into care, rather than people selling through choice.

Prices have dropped a touch, but nothing like the prices in Auckland - 22% drop in a year :eek: (link). You can see why people are nervous about buying/selling.
 
When we bought in 10. The problem was getting people who had the capital to get a mortgage so going to a bigger house is one thing but getting someone to buy your house is another. We had to put down 25% just to get a look in and at 23 years old it wasn't easy. The house we bought had been on the market for nearly a year and we knocked 10k off the price. Repo's were everywhere as well.

We didn't plan it we just got lucky. Had a chunky deposit that we saved up. If we were 2 years earlier we would have paid a lot more been on 6% rate and been in negative equity for 5+ years.

The thing with this cost of living is that it will take a good couple of years to show it's head as people will be coming off their mortgage rates and leccy rates etc. That's when I think the houses will drop a little. We are still in the infancy of this cost of living crisis.
 
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[FnG]magnolia said:
The question isn't "What are we going to do?"
The question is "What aren't we going to do?

FerrisBueller.movie.mp4
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Aso, the Auckland drop is a generalisation. A million seems to be the average but is probably not representative unless you're moving to the southern parts.

e: for clarity, the non-southern parts (and hey, surprise! even some of those!) will be eye-wateringly expensive.
 
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I don't think it makes a lot of difference. I moved in a recession once and it just took longer. Apart from there there was no real difference. They kept saying "its a buyers market" but in a downturn you tend to find that most people hunker down and don't move so it's not really a buyers market at all - unless you can actually find someone who is being forced to move. Then you might get a bargain.
 
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dLockers said:
It's tricky tho. If you're selling to buy a house that's already up, you are in a poor position already.
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This is one of the reasons I'm faffing. I can't expect a seller to accept a 'theoretical' offer from me when I haven't sold my house yet. But on the flip side, if I put my place on the market, I can't expect a buyer to wait for months/years while I wait for the right place to become available.
 
You can't expect a buyer to wait around forever, but from your perspective, if you can't find another place to move into then you aren't going to be moving anyway, so the fact you haven't sold your house is kind of a moot point.

Some estate agents will not take you seriously if you don't have your property on the market. You're wasting your time if you start looking at houses, since even in the scenario you do find somewhere you like, you'll regret missing out because you aren't in a proceedable position.

Worst case scenario is you get an offer on your house and you can't find anywhere to move to, you ask them to wait and they pull out. Resulting situation is you live in your current house and don't have anywhere to move to. Exactly the same situation as you are in today...
 
SpellowHouse said:
I don't think it makes a lot of difference. I moved in a recession once and it just took longer. Apart from there there was no real difference. They kept saying "its a buyers market" but in a downturn you tend to find that most people hunker down and don't move so it's not really a buyers market at all - unless you can actually find someone who is being forced to move. Then you might get a bargain.
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It was Repo's and Auctions where it was a buyer's market. In 10 when we were looking a modern 4 bed detached repo went for 120k. We weren't interested as the garden was small (typical of a new build). Today that house will cost 300-350k easy in my area. Considering the financial crash was 08 it took a good two years for people's finances to come crumbling down.

The only reason we didn't go into recession last quarter was because of the world cup.

Some households must be 5-10k worse off than they were 18 months ago and not everyone can deal with that on a long term basis which is when the vultures will come in.
 
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NotAGolf said:
This is one of the reasons I'm faffing. I can't expect a seller to accept a 'theoretical' offer from me when I haven't sold my house yet. But on the flip side, if I put my place on the market, I can't expect a buyer to wait for months/years while I wait for the right place to become available.
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I think that's why you have to just go for it.
 
NotAGolf said:
This is one of the reasons I'm faffing. I can't expect a seller to accept a 'theoretical' offer from me when I haven't sold my house yet. But on the flip side, if I put my place on the market, I can't expect a buyer to wait for months/years while I wait for the right place to become available.
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FWIW I only put my house up for sale to buy a specific house I wanted and then lost it, but ended up in my relative dream house a month later.
 
move just try and low ball the other house .. simple .. he's prob over spent and trying to get rid .. will be a lot of that in the next 6 months .. esp on high priced houses .. 3.5% increase is not what they planned for ..
 
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