Sell or Buy 1st?
Reasons to sell first and then buy:
By selling your property first you are giving yourself more time to consider and decline offers because you are not in a rush to move out of your home.
Achieving a Higher Sales Price:
Having the luxury of time you are not under pressure to accept the first offer that comes your way. If the buyer knows you need to sell they are more likely to put in a lower offer.
If you do not want to be put under any pressure to buy straight away then why not consider renting after the sale of your home? This could relieve stress and allow you to wait until the right property comes onto the market for you without holding up the sale on your own property.
Reasons to buy first and then sell:
Possibly a home will come onto the market at such a good price that it makes it worth buying before selling. The vendors need a quick sale and so have gone onto the market at a lower price. In this instance it may be worth buying before selling as the deal that you’re getting is worth the repayments on two properties in the time it takes to sell your property.
Your Dream Home:
Your dream homes comes onto the market in the street you have been waiting to see a home for sale in and you can’t run the risk of waiting to sell yours before buying this one. This is an emotional decision but one that people will make. It is always a risky and possibly expensive process to buy another home before selling – you therefore do not want to be the proud owner of two homes for too long!