Blog – Thinking of moving homes soon? which is your better option – buy first or sell first?

Once somebody decides to sell their home, they will be faced with a conundrum: “Should I enter the market to buy my next home now, or wait until mine has sold and then act?”

It is not an easy decision, and here are some of the potential positives that are attached to either scenario.

Buy First, Sell LaterB-3 Internet

There are benefits to buying your next property before you sell your current one, particularly if you are risk adverse.

  • If the market is hotting up and considered to be on an upward trajectory, than a savvy seller can make a purchase first and sell later, and potentially improve their overall financial position.
  • If you have certain requirements for your next purchase, you can enter the market immediately and spend some time in searching for the perfect property to buy.
  • If family or business matters are necessitating a move, than buying first and selling later can offer comfort and peace of mind.

Sell First, Buy Later

There are also benefits in selling your home first before entering the buyers’ market.

  • By selling your home first you are in complete control of the situation and only have to sell once all of your requirements are met.
  • Once you have sold your property, the exact amount of capital that you have available to you will be apparent, and you can make your next purchase with sound financial information.
  • After finding the next home that you wish to buy, you can enter contract negotiations in a strong position, as you will not be hindered by any legal matters and will have the cash in the bank be ready to act.

If you would like to discuss the current real market conditions in Plumpton and its surrounding areas with an industry professional, please contact the sales team at Hilton Parkes Real Estate.