It’s tricky, right? If you own a home now and want to move to another, you’re left with the lingering question: “Should I buy or sell first?”
The answer depends on your financial resources. Can you afford to carry two mortgages if your current home doesn’t sell? If you buy first but don’t sell your current home fast enough, you’re stuck with owning two homes at once.
What if buyers don’t think your current home is worth your asking price? You may have trouble securing a mortgage for the new home. If you sell first then you’ll know exactly how much money the sale brought in, thus how much you can afford to pay for the next place.
There are a lot of factors to consider when deciding whether to buy or sell first. While there’s no right or wrong answer here, the goal is to make sure you have realistic expectations and a plan that works for you and your family.
Contact
Ian Pepper
0403 570 041 | ian.pepper@raywhite.com
Josh Pepper
0437 790 052 | joshua.pepper@raywhite.com