We will continue looking at the situation that many homebuyers find themselves in and that is that they are wanting to buy and sell a home at the same time. On the rare occassion you may just find someone to trade homes with, but typically homeowners are left trying to figure out if it is better to buy first or sell first.
The truth is it is your decision. We have looked at the reasons you may want to consider selling first and now we will see reasons why you would choose to buy before you sell.
- In a Seller’s Market. In a seller’s market there are typically fewer buyers and houses go quickly. This lowers your risk if you choose to buy first and sell second.
- A Good Deal. As a buyer you may find a home that is to good to pass up. The sellers may be looking and needing to sell quickly and the home is just what you’re looking for. If in this case you are able to get a good deal on your home it will be worth the small window of making double payments in the long run.
- It’s your Dream Home. This is in a sense more of an emotional decision. If you have found the home of your dreams before you sell your house take time to really evaluate the situation. Talk with your realtor and your lender to get a good grasp on the situation. Take time and decide if you will regret not getting this house and how feasible it is for you to go ahead and buy first.
As you can see, as a homeowner you will receive advice supporting both options. Take time and decide what is best for you based on your goals and your current situation. Also remember you can seek advice from your realtor. As a realtor I want to do more than help you find a new home or sell your current one, I also want to make sure the process is as stress-free as possible for you.
