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Selling your house!

Discussion in 'Retirement' started by thejudgesscoresarein, Oct 15, 2019.

  1. thejudgesscoresarein

    thejudgesscoresarein Occasional commenter

    As I am less than a year away from retirement, I am in the process of preparing my house for sale. Currently living in the Midlands, I am planning on moving to the south west (Devon) to spend my retirement there- just wondering if any fellow colleagues have sold up and re-located for their retirement?
    My current property I purchased back in 1991 for £39,000. Since then, I’ve completed gutted it, extended the house. I had it valued back in 2012 for £225,000. I’ve kept it up to date with modernisation etc and I’m sure the new buyer will put their own stamp on it, like I will with my new property.
    In the last 7-8 years, house prices have increased dramatically and the house next door sold last year for £300,000 (smaller than mine)- so I’m confident it will sell quick- it’s just when the best time would be to market it for sale? I retire in August 2020, and want to be in my new home by my 60th in November 2020.
  2. Lara mfl 05

    Lara mfl 05 Star commenter

    Difficult to advise. Who knows what the housing market will be doing n a year's time.

    Currently houses are stuck in my area, dropping prices drastically and still not selling. We think it's worry about B*****, whether the bank increases Bank rates and whether mortgage rates will go up, which means many people are simply staying put or extending where they are. Except people who have to sell, due to bereavement, divorce or relocation.

    Only thing I can suggest is wait and look next Jan / Feb on rightmove or Zoopla and keep a regular eye on a few properties in the appropriate price range in the areas you're selling / buying. That will give you some info about whether property is moving or not.

    Certainly when my parents moved, which they did fairly often, they found people don't generally tend to look at moving before Christmas, and Spring/ early summer / early Autumn was the best time to sell. In the summer people are going away and not looking at big purchases like house.
    Last edited: Oct 15, 2019
    phlogiston likes this.
  3. lindenlea

    lindenlea Star commenter

    Absolutely no point in having any time scale in your head. It will take as long as it takes - even if you were to put it up at a low price, which I'm sure you're not planning on doing. We decided to move in August 2011 and arrived here October 2012.


    Here are the answers you got the last time you asked this question but of course there may be some different posters happy to put their oars in.
    phlogiston and stopwatch like this.
  4. stopwatch

    stopwatch Lead commenter

    I assume that you are only able to move after you have retired/finished work. Based on the general fact that it can take around 12 weeks between an offer being made and a house completing, the earliest you should put your house on the market is probably June.
    However, as you will still be working, it is going to be difficult to view houses in Devon while you are in Birmingham. Therefore I recommend not putting it on the market until you have finished working. Caveat below:
    As I mentioned when I responded to your earlier/similar thread, I would advise spending up to a year in the relocation/house selling/buying process to ensure you get the right place - including the town/village you move to.
    As you know, I spent about 2 years finding/deciding upon my new destination. Devon was one of the 6 areas I was considering. One thing I found out is that there are a wide variety of types of places to consider. Coastal v Inland, North Coast v South Coast, Town v Village. Have you decided on a specific place or area yet? If not,I would give yourself at least the first 6 months of your retirement visiting and touring Devon before even considering putting your house on the market.
  5. catmother

    catmother Star commenter

    Is Devon not really expensive?
    1970devon and stopwatch like this.
  6. stopwatch

    stopwatch Lead commenter

    It depends what you are comparing it against. If you are comparing it with Hull or Sunderland, then yes. If you are comparing it with many areas of Birmingham, then no.

    When I was looking at Devon, along with Bournville in Birmingham, the prices were pretty similar for the same type/size of property. In fact, many Devon properties gave bigger gardens as they were quite rural
  7. thejudgesscoresarein

    thejudgesscoresarein Occasional commenter

    I live in Redditch (about 25 miles south of Birmingham) - I’m looking at moving to Barnstaple/ Ilfracombe areas- Property can be expensive down there, but most are in line with what it is up here. We’re up for buying a dilapidated property and completely renovating it to our tastes- we’re ‘window shopping’ at the moment and have seen a couple that need completely gutting altogether around the £150- £170,000 and then spending about £40-£50k to bring it up to standard.
  8. lindenlea

    lindenlea Star commenter

    Lara mfl 05 likes this.
  9. 1970devon

    1970devon Occasional commenter

    I live IN Devon close to the areas you are considering. Have done for 20 plus years. I take it you've done lots of research etc. House prices and areas vary greatly eg 6 bed house in ilfracombe for little more than 200k, 3/4 bed in villages outside of barnstaple 300plus. We have one if the most economically deprived areas and it takes for ever to get anywhere! Having said that we love it and will not live anywhere else. Access to coast and moors amazing- but a trip to a concert or theatre is time consuming and expensive!
  10. tolkien28

    tolkien28 Occasional commenter

    Totally agree with your advice. It's the biggest financial commitment you are likely to make, so don't rush into it. I was in a very similar situation last year. From putting my house on the market April 2018, to moving into my new house April 2019 took exactly a year. I too live in the Midlands/moved from Birmingham to Solihull. Forget being in for your 60th birthday and take your time. It will be worth it in the end.
    Lara mfl 05 likes this.
  11. eljefeb90

    eljefeb90 Senior commenter

    Interesting thread. As a part time worker for Solihull Council, could I welcome @tolkien28 to the borough? Hope you have added yourself to the electoral roll, we Silhillians are very insistent about such matters.
    Being a bit of a devotee of Escape to the Country, I often consider moving out of the metropolis to somewhere quieter. The trouble is that everything in the city is so damn convenient. I can get to the airport in 15 minutes,my doctor is ten doors away and every major supermarket can be found within a ten minute drive. Then there are the myriad restaurants, music venues, cinemas and theatres. A coastal walk or a cycle in the country is appealing but would these compensate for the inconvenience and lack of alternatives?
    emerald52 likes this.
  12. eljefeb90

    eljefeb90 Senior commenter

    Oh, and @thejudgesscoresarein , isn't Redditch closer to Brum than 25 miles? It's practically a nouveaux riche version of Druid's Heath, isn't it?
  13. stopwatch

    stopwatch Lead commenter

    Being raised in Birmingham (I left in 1976 when I was 19), I had a particular dislike of concrete, large crowds, anonymity and the impersonal nature of the city. I always wanted to live out in the country 'in the middle of nowhere'. Blue skies, clean air and nature were my dream

    In 2003 I was fortunate enough to afford a semi-detached cottage in North Cheshire - about 12 houses in the village, 1 church, a school and a pub. No shop, no medical centre, no bus, no train. People were lovely, the fields (we overlooked fields front and back) and the air were wonderful. I soon found that it was very boring and extremely inconvenient to get to any kind of 'service' (shops, doctor, hospital, train, airport).

    10 years later I moved back to South Birmingham. It is very green (yes, believe me), all services are almost literally a stones throw away. Life is very convenient and the people are very nice.

    I do think that the likes of 'Escape to the Country' 'Coast vs Country' and the like, give a very myopic view of what life is really like there.

    I can always go on holiday to Devon/Cornwall/The Lakes/Yorkshire in out of season to get my 'country fix'

    Horses for courses.
    Sundaytrekker and eljefeb90 like this.
  14. stopwatch

    stopwatch Lead commenter

    Everywhere is nouveaux riche compared to Druids Heath
    eljefeb90 and Missbubbleblue like this.
  15. stopwatch

    stopwatch Lead commenter

    I think that one of the biggest challenges moving to a new area is finding out the true nature of the areas you are looking at. I assume that the South West has it's less desirable, crime ridden areas that are found elsewhere. The problem is, finding out which. Estate Agents will rarely answer a question like 'Tell me, honestly, which are the worst areas to look at'

    Cheaper house prices often reflect the quality and desirability of the area. In addition there are websites which you can go on that give crime figures (type of crime, number of crimes etc) for all areas of England.
    1970devon likes this.
  16. lindenlea

    lindenlea Star commenter

    So many TES people in the W Midlands.:). There are lots of roads and too much traffic but it's v convenient for getting to everywhere else.
  17. thejudgesscoresarein

    thejudgesscoresarein Occasional commenter

    Well, I’ve actually googled it - depends what part of Birmingham- it’s actually 14 miles to central Birmingham, but 25 to Sutton Coldfield where I have some relatives.
    A move has always been on the radar- and whilst I do want to move relatively quick after I retire, I am not prepared to sell my house for a low price.
    There are a few down there within my price range, and I’m sure more will come on after this uncertainty with the economy!
    Will be looking to move mortgage free- Although retiring from teaching- I’ll probably find a part time job somewhere to keep me sane.
  18. thejudgesscoresarein

    thejudgesscoresarein Occasional commenter

    An update to this, I’ve had my property valued by a number of estate agents and it’s now on the market for sale (anyone who is looking for a 4 bed house in Redditch, Worcs for around £325k, let me know) - we was going to wait until at least Easter before we put it up for sale, but the estate agent advised us that at the moment it’s a slow moving market!
    If we sell and complete before August, got some relatives in the Midlands who we can stay with until my last day in the job.
    stopwatch and eljefeb90 like this.
  19. stopwatch

    stopwatch Lead commenter

    Good to hear. Good luck in 2020. You said previously that you want to move mortgage free. What kind of budget are you looking at and have you decided on any specific locations in the SW?
    Lara mfl 05 likes this.
  20. Luvsskiing

    Luvsskiing Occasional commenter

    Not sure I'd want to live in the country as I get older, after looking after aging parents who live in a village. Getting any service from a pint of milk to a doctor's appointment is a major to impossible hassle, and social isolation is a big problem. As their mobility has declined, everything is a massive problem.

    With regards to moving, could one option to explore be buy before actually putting yours on the market? If you can use any savings plus getting a mortgage or bridging loan, it means you can buy now, haggle a much lower price in this depressed and buyer's market, you can look for a chain free place, get any major work you want done before actually living in the place, move at your leisure when the time comes then sell without any pressure. It might cost money but might save money too and would certainly reduce the stress.
    Last edited: Jan 1, 2020
    Lara mfl 05 likes this.

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