Should you sell or buy first?

A commonly asked question from people is “should I sell my house first or buy first?”

From people looking at the benefits of downsizing, to those selling their first home and buying their second. If this is a question that has you second-guessing in this changing real estate market, this video will outline the pros and cons of each, depending on your situation.

If you’re ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.

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Do your house research to sell your property 

Prior to signing an agency agreement with a real estate agent to sell your own home, it pays to take a look at what is currently on the market for sale.  Three great real estate portals to use as research tools are:

• joanned.com.au
• realestate.com.au
• domain.com.au

While online research provides great information, it does not replace a physical inspection. It is a good idea to step inside the properties that are on the market that have what you are looking for and attend a few open homes. There are three different ways you can find out about open houses during any given week. They are:

• Real estate portals such as realestate.com.au and domain.com.au
• Request to be added to our open home alert 
• Saturday’s Illawarra Mercury Real Estate Liftout

Attending these open homes can also give you your own knowledge on where your property pricing sits in the current market. This means when you do list to sell your house, you will be fully informed of the current market conditions, allowing you to price your home to sell. If you do find your perfect property sooner rather than later, you might want to consider Selling By Auction to expedite the process.

If find several homes that really interest you and you feel you could see yourself living there, then you are probably going to be in a pretty good position to be able to sell your home first and then buy something that you like. Choosing this path may mean you have to review your finances to allow you to purchase, and you may look to utilise a deposit bond.

On the other hand, if in your information gathering exercises, you find that you can’t really see a property that stands out and there is nothing suitable, then you are probably better off to try and find something first, secure that property and then look at selling yourself.

In doing this research, you will start to get an idea of how much money you are going to need to purchase your new property, and compare it to how much you think you can realistically sell your existing property for. This will give you an idea of how much money you could you have in your hand before you commit to another home.

So to answer the question of should you buy or sell first, the advice is to get out in the current local real estate market and have a look around. You will be able to make a decision on how long it may take you to find the next perfect home. Predicting the market is difficult - and there are different influencing factors at play all the time.

If you’re ready to discover the secrets to being ready to sell your home download our free checklist – Insider Secrets To Being Ready To Sell.

YES, DOWNLOAD MY CHECKLIST

I hope that has helped you today in whether to buy or sell your house first, but if you have any questions I’d love to talk to you. My number is 04 26 264 771 and I look forward to talking to you soon.

Considering how you can Right Size your Home and perhaps move into Aged Care? Register for this short course and learn how to best right size your home when moving into aged care. 

If you have any family or friends that might benefit from real estate guidance, please feel free to pass on my details or share this link. I’d love to be able to help.