Sell Then Buy, Or Buy Then Sell?
Its an age old question, to sell then buy or buy then sell? Here are some pros and cons of each approach.
Selling before buying
Pros
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Knowing your purchasing power
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Funds are easier to get
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You don't need to rush the sale because you already bought
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Reduces stress
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No bridging loans
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Vendors love cash offers
Cons
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Rising property prices, depending on the gap you could pay more
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Potential rental or moving twice
Buying before selling
Pros
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In a rising market you may get more from your sale
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Avoid renting and multiple moves
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Take advantage of your equity
Cons
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Youll need equity or a bridging loan
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Managing more than one loan
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You will need to find a deposit
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Added pressure to sell
When you are faced with this decision, speak to your property team, accountant, agent and broker to have all the angles before making an informed decision.
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