What Comes First: Buying or Selling?
If you have started the process of selling your home, perhaps you have asked yourself the million-dollar question: “Do I buy a new home before I put my current house for sale?” Unfortunately, while we cannot give you an easy “yes” or “no,” we can give you some insights that may help.
Here are some major points to take into consideration when determining whether you may be for or against selling or buying a home first.
Prioritizing Selling
For:
Peace of Mind
Perhaps an obvious perk of selling your home firr st is that it gives peace of mind that you have the money you need to own a new property. On top of that, your budget for your next home is nearly decided for you.
More Power
Selling your home sooner means you have more power when it comes to the back-and-forth with another seller. Because you are free of your old home, the seller you are working with will take you more seriously and be more likely to accept your offeer.
More Freedom
With money not being an issue, you have the ability to shop around. You do not have to land on the first property you see. What does that mean for you? You are likely to get a bettee r deal for a home thatyou love.
Peace of Mind
Perhaps an obvious perk of selling your home firr st is that it gives peace of mind that you have the money you need to own a new property. On top of that, your budget for your next home is nearly decided for you.
More Power
Selling your home sooner means you have more power when it comes to the back-and-forth with another seller. Because you are free of your old home, the seller you are working with will take you more seriously and be more likely to accept your offeer.
More Freedom
With money not being an issue, you have the ability to shop around. You do not have to land on the first property you see. What does that mean for you? You are likely to get a bettee r deal for a home thatyou love.
Against:
Finding Your Home
Finding your dream home may take a while. If this takes longer than expected, you may find yourself scrambling for a place to stay while you continue the search.
Finding Your Home
Finding your dream home may take a while. If this takes longer than expected, you may find yourself scrambling for a place to stay while you continue the search.
Prioritizing Buying
For:
Dream Home Listed
If you firn d your dream home is listed, this will ensure you get the property you wanted. This is for the person who knows they want to move and what they want.
Amazing Deal
There may be a home listed in an ideal area for an amazing asking price. This might be an absolute steal that you do not want to lose. Prioritizing buying will make sure you are the one to get the property.
Dream Home Listed
If you firn d your dream home is listed, this will ensure you get the property you wanted. This is for the person who knows they want to move and what they want.
Amazing Deal
There may be a home listed in an ideal area for an amazing asking price. This might be an absolute steal that you do not want to lose. Prioritizing buying will make sure you are the one to get the property.
Against:
Two Properties
Let’s say the home you are selling takes a while to offer of the market. You may firn d yourself in a position of having to pay for the mortgage and upkeep of both homes until your first property sells.
Budget
What your current home sells for is up in the air until papers are signed. Buying your new home first means there is added risk that you will be over budget.
How to Decide
Gray area is never easy. We wish we could tell you exactly what you should do. Thie best way to figure out what option is right for you is by asking yourself the right questions. Can you handle the stress of not knowing the future budget of your home? Would you prefer the security of selling your home first? Do you have a place to stay if your home sells before you firn d a new property? Asking yourself the right questions will help you decide what will work for you in your circumstance.
Two Properties
Let’s say the home you are selling takes a while to offer of the market. You may firn d yourself in a position of having to pay for the mortgage and upkeep of both homes until your first property sells.
Budget
What your current home sells for is up in the air until papers are signed. Buying your new home first means there is added risk that you will be over budget.
How to Decide
Gray area is never easy. We wish we could tell you exactly what you should do. Thie best way to figure out what option is right for you is by asking yourself the right questions. Can you handle the stress of not knowing the future budget of your home? Would you prefer the security of selling your home first? Do you have a place to stay if your home sells before you firn d a new property? Asking yourself the right questions will help you decide what will work for you in your circumstance.
