We often speak to people who will only look to sell their home once they have found what they are looking for, this has its advantages and disadvantages.
If you sell before you buy
- It puts you in a stronger sales position – now you are a proceedable buyer if your dream home does come to the market. When the seller is considering all of those who have offered, your offer will be looked at more favourably.
- You are more in control when it comes to the sale of your home – because you’re not panicking about selling quickly. It really does help minimise stress levels.
- As you have sold your property first, you know exactly how much your budget is for your purchase.
If you buy before you sell
- You may find your dream home, but if your property doesn’t sell quickly enough the owner of the home you intend to purchase may lose patience and accept another offer – especially if they are moving on.
- Prices fluctuate. You may buy a home for one price and sell yours 6 months later for less than expected, this could leave you with a deficit to find.
- We would always advise on selling before buying, however, everyone has different circumstances. If you do decide to do the latter, there are a few things you can do to prepare
- Speak to a mortgage advisor - we work with an excellent whole of market specialist if you need a referral.
- Do your research – are your expectations realistic?
- Register with your local agents, they can advise you of properties coming to the market. In addition, they can give you advice on your property. Low key marketing could even be an option (talk to us if you’d like to know how this can help).
Whatever you decide to do, if you need some honest, practical advice please do not hesitate to get in touch.