Chat with us, powered by LiveChat

Buy first or sell first?

In a property market that is performing as strongly as our is at the moment, it’s not surprising that a lot of local residents, (and those who want to become one), have a lot of questions on how to bring their property dreams to reality at the moment.

One question that we are encountering regularly at the moment, particularly from local homeowners who are considering selling and moving on to their next home, is whether they should buy first or sell first.

In the past, the most common advice on this question was usually to sell first and buy later, as that way you could be more certain of exactly how much your new budget would be, and what settlement time you wanted.

Nowadays, however, in a market where there is so much competition for the limited supply of properties for sale, many people are taking the opposite approach so that they are not left worrying about having no home to move to when their property has sold but they are yet to secure their next property.

It is worth mentioning, however, that this tip will depend on what type of property you are buying and selling. For example, if your current home is an unusual one, or has features that are suited to a very specific type of buyer, you may be better off waiting until you have sold, so there is no uncertainty on that end of the transaction.

If, however, you want to buy a very specific type of property or one that is particularly suited to very individual needs, you may be better off buying first so that you can be sure of getting what you want.

If you are currently wrestling with this dilemma, and would like some experienced advice on the strength of buyer demand for your current property, or the availability of the type of property you want to move to, don’t hesitate to give us a call at Barry Plant Thomastown this week on 9466 3233. Our team are always happy to provide you with obligation-free advice as well as providing you with insights into properties being offered for sale by members of Victoria’s largest real estate network.

We look forward to being of assistance.

Cheers,

Con Constantinou

Barry Plant Thomastown