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Trading Up to a New Build

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  • 07-03-2018 12:18am
    #1
    levi
    Registered Users Posts: 366 ✭✭


    We're considering trading up but really like the house we live in, it's just a bit small for a growing family. Because we like it, we don't want to buy any old house just cos it's bigger. It has to be the right house. We're worried about putting our house on the market in case we don't find something we like.

    I understand that to enter into a chain on a second hand house, your own house needs to be sale agreed before one can bid on the house they would like. However, we've been looking at new builds this evening and I'm curious as to whether this is the same for new builds. There's is obviously a longer lead for a new house that isn't yet completed so would this give you time to sale agree your own house in the interim period between paying your booking deposit and then paying the remainder of the deposit when you sign the contracts?

    Totally ignorant when it comes to this stuff so would be great to hear any advice you have on this!


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    #2
    Thestones
    Registered Users Posts: 255 ✭✭Thestones


    It probably is easier with a new build, the only issue is and it happened to a friend of mine went sale agreed on own house and was buying new build but it was delayed months longer than they were originally told, luckily their buyer let them delay their sale so they could stay until the new house was ready, most buyers wouldn't be as accommodating. If that happened you could always rent short term or move in with family.


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