Money Saving

Buying Before You’ve Sold Your Home: Here’s How It’s Possible

Moving home can be very stressful, especially if you end up in a chain. This is when you sell the home that you are currently living in at the same time that you buy your new property.

Being in this kind of property chain becomes stressful as you will end up waiting for your buyers and sellers to act. Plus, if one of them falls out for whatever reason, a sale might not be able to go ahead, and this could spoil the whole chain of buyers and sellers.

So, as you can see, it’s often best to try and not get into this kind of chain.

There is one thing you can do to ensure you don’t need to get involved in a chain – you just need to sell your house before you start looking for a new one.

Here are some reasons why that’s beneficial.

You Can Always Rent

Don’t worry; you won’t be left homeless. You just need to move into rented accommodation while you wait.

woman holding moving box

If you are moving into a smaller home, you can always place all of your furniture into local self storage so that you can keep hold of everything for your new home.

Once you are in rented accommodation, you will be able to view potential houses at your own speed, and you won’t be in such a rush to put an offer in. So, as you can see, this takes away a lot of the stress associated with house hunting!

Your Offer Won’t Be Taken Seriously If You’re Still Selling

Sometimes, you might find that estate agents are reluctant to accept an offer if the buyer is still trying to find a buyer for their home.

This is because they might not have the funds in place to buy the new property yet, and most estate agents will only consider an offer when you can show
them proof of funds.

So, you might find that agents are much more willing to discuss an offer with you if you have already sold a home and have the money to buy ready in your bank.

You’re Not Desperate For A Quick Sale

If you aren’t trying to buy a home at the same time as selling, you won’t have to rush around so much for a quick sale.

snail with house on its back

This means that you can dismiss some of the lower offers that are made on your home and hang on for a while to see if someone offers you something closer to the asking price.

As a result, you should end up getting more for your property.

You Have A Very Clear Budget

Once you have sold your house, you will know exactly how much you can afford for your new property.

This will help you narrow down your search when you come to look for a new home, so that you don’t waste time looking at houses that are out of your budget.

welcome to our home sign

As you can see then, it could be worth selling your home before you start to look for a new one!

Disclaimer: This is a collaborative post.

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