If your dreams of buying a new home rely on the sale of your existing property, then there’s one fundamental question you need to answer.
Are you going to look for a new home first and then list your property – or do things the other way around?
While both scenarios can work out in the end, we think one option is far more favourable – and that’s getting your current property on the market first.
Here are four reasons why.
Show you’re a deal-maker, not a time-waster
Competition is strong for the best properties, so sellers can afford to be choosy. If multiple offers are on the table, a buyer who has already listed their property (and is clearly motivated) is a more appealing prospect than one who hasn’t.
It could save you money
Listing your property first puts you in a stronger negotiating position. If a seller wants a quick deal (perhaps they’ve fallen in love with another property and need to move fast), they may be more flexible on price if they think you can move swiftly.
Streamline the process
Once you have an offer accepted on a property, it will be all systems go with surveyors, lawyers and lenders. But if you haven’t listed your home, you’ll also need to get cracking on this front (by decluttering, tackling any DIY and choosing an agent). Juggling all these tasks at the same time can be stressful and time-consuming – but there is an easier way. To avoid having a multi-tasking meltdown, get all your ducks in a row with your property sale first.
Less chance of losing your dream home
One of the most common reasons property chains collapse is that one party grows impatient. So even if a seller accepts your offer on the understanding you still have to list your home, they may get frustrated if progress is slow – and pull the plug. You could miss out on your dream home because you started the process on the back foot and just can’t move quickly enough.