Should I Sell or Buy First?

 
In reality there is no straightforward or quick answer to this question. What we do know from experience, however, is that every person who has ever wanted to trade up or down has asked him or herself this question. There are several factors you must consider before deciding what is best for you.

WILL THE HOUSE YOU ARE LOOKING FOR BE EASY OR DIFFICULT TO FIND?

In other words, are there several homes in the market which fit the description of your preferred type of home. To answer this you may need to talk the matter through with your Consultant.

IS YOUR HOME GOING TO BE EASY TO SELL IN THE CURRENT MARKET?

The average sale time varies not only from city to city, but also from month to month. Your Consultant will advise you about the market conditions at the present time and the possible demand in the market place for your home.

ARE YOU OR ARE YOU NOT COMMITTED TO MOVE IN THE SHORT TERM?

Perhaps you don’t mind how long it takes you to find a home and then sell yours. You may be happy just browsing and to take the chance that your own home will sell once you find something. However if you are determined to move within, say, six months, you should consider the first two questions seriously.

DO YOU REALLY KNOW WHAT YOUR OWN HOME IS WORTH?

Real Estate industry professionals know full well that the actual value of the home is not determined until there is an unconditional agreement in place. You may not know how much you have to spend until you have sold your own home. Often Sellers jump to conclusions about what their own home is worth and sign up for a new home they think they can afford. The Seller then tries unsuccessfully for a long period of time to sell the house at the inflated price. Eventually both contracts lapse.

SO WHAT IF YOU SELL AND DON’T FIND A HOUSE?

Once you have sold you become a cash Buyer and rarely will you be left out in the cold. Not only are you committed to move but Real Estate Consultants are more likely to give you first chance at every new house listing.

PROBLEMS THAT OCCUR

If you haven’t sold your house and you do find your dream home, you run the risk of not being, able to sell your own home in time. This may put pressure on you to confirm the contract on the home you are purchasing, taking the risk that you own home may not sell in time. The risk, or the disappointment, are a hassle that can be avoided if you sell first.

GENERAL COMMENTS

Overall you need to ask a Sales Consultant to look at your home. After some questions about your plans and the type of home you are seeking, one of our friendly Consultants will advise you as to whether you should sell first or wait until you buy.