Listen to Monique and Lynsey to learn the best option under different circumstances in this 1-minute video.
Click below to watch the video.
Following is the video transcript.
Monique Dower
Principal, Belle Property Balmain
Selling your current home first is often the preferred approach. But we recognise that the process you choose will depend entirely on your circumstances. Approximately 50 percent of people sell first. Once you’ve sold your property you’ll know exactly how much equity you have available to purchase your next home. Having cash in the bank when you negotiate the price of your next home may also give you greater negotiation power. If you do happen to find your dream home before you’ve sold your current property then you may need short term finance, in the form of a bridging loan.
Lynsey Kemp
Principal, Belle Property Balmain
Quite often the thing that prompts this move is that a desirable property comes on the market, putting homeowners in the position of ‘acting now’.
In a fast-moving property market, many home sellers will secure their next property before they’ve put theirs on the market.
Just be aware that juggling both a home purchase and home sale at the same time could double your stress.
No matter the market conditions, you never really know what your home is worth, so make sure you have an experienced, calm and knowledgeable agent to support you.
