If you're considering upgrading or downsizing your current home, you're likely wondering whether to sell your property before purchasing your next one. It's a common dilemma among homeowners, and the decision isn't always straightforward. Here's some advice to guide you through this process.
The truth is, there's no definitive answer to whether you should sell your property before buying another.
However, based on my professional experience, listing your current property first and securing a buyer offers several advantages. By doing so, you gain clarity on your financial situation, including your deposit, loan, and equity from the sale. This knowledge empowers you to make informed decisions regarding your next property purchase.
One of the key concerns is ensuring that you don't find your dream home only to struggle to sell your current property. To avoid this scenario, it's essential not to rush into listing your property on the market. With the chance that numerous similar properties are constantly appearing on property portals, strategic marketing is crucial. Investing in high-quality marketing materials, such as a captivating front shot, property video, and a detailed floorplan, can significantly enhance your property's appeal to potential buyers during the critical initial weeks of marketing. Read our blog on the importance of getting your property photo and marketing ready.
Consider this: If you proceed with selling your property and opt to rent temporarily, you position yourself as a chain-free buyer when searching for your next home. This status can give you leverage during negotiations for your onward purchase, potentially enabling you to secure a more favourable deal.
Ultimately, the decision of whether to sell your property before buying your next home depends on your individual circumstances and preferences. However, by carefully considering these factors and seeking guidance from your local Avocado agent, you can navigate this process with confidence and make the best choice for your situation.
For more expert advice and insights on property transactions, visit our advice hub. We're here to provide you with valuable information and support every step of the way.
To book a valuation for your property, click here. I'd be more than happy to help!
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