Should You Buy or Sell First

Each and every person has different goals and plans that are unique to their circumstances. The choice of buying or selling real estate first is entirely personal, though we’ll do our best to share our advice on the matter.

BUYING FIRST

Pro

  • Time: You have all the time in the world to make sure that the home you find is your perfect dream home.
  • Peace of mind: After selling your home, you don’t have the panic of “What if I don’t find a home?” You never have to worry about whether or not you’re settling because you know the your perfect home is waiting for you.

Con

  • Fear of Selling for Less: If you aren’t able to sell your home for a price you want, you will need to sell your home nevertheless. You have signed the contract of purchase for your new home so there is no going back. Even if this means that you are settling for an offer that is below the worth of your home.

SELLING FIRST

Pro

  • No Need to Sell for Less: You are in the commanding chair, you are in control, you have the comfort of being the decision maker. There’s no need to settle for offers are not up to your expectations.
  • Clear budget: Having already sold your home, you know exactly what kind of budget you’re working with when you start looking to buy properties.

Con

  • 3 Month Deadline: You may not have as much time to leisurely look for a home. Most realtors will set a 3 month deadline for completion, which is plenty of time to find your new home. But for some clients, this deadline may be more stressful to them.

FINAL ADVICE

As a whole, we always recommend our client to sell first.

In most cases our client’s buying budget depends on what their home can be sold for.

There can be a fear of not being able to find the right property. But this is nothing compared to the fear of not being able to sell for the right price and being caught in a financial commitment that you cannot afford.

If you still have any questions or concerns about your real estate investments, buying or selling, contact us today. Rely on your expert real estate advisors to help guide you through a hassle-free real estate process.

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