SHOULD I SELL MY HOME BEFORE LOOKING FOR A NEW HOME?

The first scenario - selling your current home before buying a new home.

The biggest benefit of selling your current home before buying a new home is that it will put you in an ideal position to negotiate on the new home you are purchasing, because you are purchasing without the condition that you first need to sell your current home.  The time it takes to sell your current home is unpredictable and sellers therefore prefer this scenario because it brings more certainty to the selling process.

One risk of course, of selling your current home before buying a new home first, is the chance of not timeously finding a suitable new place to live in.  The timing of all of this is always a challenge, but with a professional on your side who understands both the buyer and seller’s circumstances, we almost always find a way to negotiate the timing of it all to suit both buyer and seller. 

Let us now quickly look at buying before selling….

The biggest benefit to buying a home before selling your current home is the fact that you have a suitable property lined up.  This can reduce the stress and pressure of having to find a home once your current home is sold. 

This can, however, also create some disappointment.  If you still need to sell your current home, your offer to purchase would probably be contingent upon the sale and transfer of your current home.  If your current home then does not sell in a timely manner, this could lead to you losing out on the home you’re looking to purchase, which can be heart-breaking.

Let a qualified property professional guide you throughout the process to ensure that the best win-win outcome for both the buyer and seller is reached.