Are you thinking of making a move and not sure about the first steps? A common question we hear when meeting with clients is whether they should buy first or sell first. Let’s explore the key considerations for both scenarios.
Buying First: When It Makes Sense
Buying first can be the right choice in several situations. If you have a specific property in mind, ample equity in your current home, and the ability to secure bridge financing, this option offers flexibility. It’s also ideal if you plan to renovate your new property, allowing you to move in without the hassle of temporary accommodations.
Selling First: The Practical Approach
On the other hand, selling first is a practical choice if your property caters to a limited buyer pool, you’re concerned about the financial burden of holding two homes, or you want a clear understanding of your sale price before purchasing your next home. It provides financial certainty and streamlines the buying process.
Individual Situations Matter
The decision ultimately hinges on your unique circumstances. What works for one homeowner may not suit another. It’s essential to consider your financial position, property type, and renovation plans when deciding whether to buy or sell first.
Flexible Dates: Smoothing the Transition
No matter which route you choose, flexible closing and possession dates can alleviate stress during the transition. Long and adjustable timelines provide the necessary buffer for a seamless move.
If you’re still unsure about the best approach for your situation, don’t hesitate to seek expert advice. Our team specializes in helping clients navigate the buying and selling process. We provide confidential guidance to ensure your move is well-planned and stress-free. For more info check out this Vancouver Sun article.
Want a personalized purchase and sale strategy for your unique needs? Call us today we’re here to assist you in making the right choice.