Should you SELL first or BUY first?

๐“๐จ ๐›๐ฎ๐ฒ ๐จ๐ซ ๐ญ๐จ ๐ฌ๐ž๐ฅ๐ฅ ๐Ÿ๐ข๐ซ๐ฌ๐ญ? That is the question. At least itโ€™s one of the questions we get asked most often when we meet with Buyers & Sellers. Unfortunately, there isnโ€™t a one-size-fits-all answer. Hereโ€™s a look at the pros and cons of each strategy.โฃ
๐˜™๐˜ฆ๐˜ข๐˜ด๐˜ฐ๐˜ฏ๐˜ด ๐˜ต๐˜ฐ ๐˜‰๐˜ถ๐˜บ ๐˜‰๐˜ฆ๐˜ง๐˜ฐ๐˜ณ๐˜ฆ ๐˜š๐˜ฆ๐˜ญ๐˜ญ๐˜ช๐˜ฏ๐˜จโฃ
Property Selection In a market with tight supply, hot properties sell quickly. โฃ
Comfort with Interest Rates Mortgage โฃ
Time for Renovations โฃ
๐˜™๐˜ฆ๐˜ข๐˜ด๐˜ฐ๐˜ฏ๐˜ด ๐˜ต๐˜ฐ ๐˜š๐˜ฆ๐˜ญ๐˜ญ ๐˜‰๐˜ฆ๐˜ง๐˜ฐ๐˜ณ๐˜ฆ ๐˜‰๐˜ถ๐˜บ๐˜ช๐˜ฏ๐˜จโฃ
Know Exactly How Much $$ you Have to Spend. โฃ
Avoid the Stress and Costs of Your House Not Selling โฃ
Avoid Bridge Financing Costs โฃ
Here are some ๐ข๐ฆ๐ฉ๐จ๐ซ๐ญ๐š๐ง๐ญ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ to ask yourself when deciding whether to buy or sell first:โฃ
1. Where will you live if you sell first?
2. What will you do with your stuff if you donโ€™t close on your sale and your new purchase on the same day?
3. Where will you put your money?
4. Will you encounter any mortgage penalties?
5. What is your worst-case scenario?
6. How much uncertainty can you emotionally handle?
7. What is happening in the markets you are buying and selling in?
๐ˆ๐ง ๐š๐ง ๐ข๐๐ž๐š๐ฅ ๐ฐ๐จ๐ซ๐ฅ๐, weโ€™d all sell in a hot market and buy in a lower market, but rarely does it ever play out that way. ๐˜”๐˜ฆ๐˜ด๐˜ด๐˜ข๐˜จ๐˜ฆ ๐˜ถ๐˜ด ๐˜ง๐˜ฐ๐˜ณ ๐˜ฎ๐˜ข๐˜ณ๐˜ฌ๐˜ฆ๐˜ต ๐˜ด๐˜ต๐˜ข๐˜ต๐˜ช๐˜ด๐˜ต๐˜ช๐˜ค๐˜ด ๐˜ช๐˜ฏ ๐˜บ๐˜ฐ๐˜ถ๐˜ณ ๐˜ข๐˜ณ๐˜ฆ๐˜ข.
So, should you buy or sell first?
If youโ€™re moving from a less hot market to a hotter real estate market, you probably want to sell first.
If youโ€™re moving from a red-hot market to a more stagnant market, then buying first might make more sense.
If youโ€™re more concerned with buying the right new home than selling your current home for maximum $ in a short time period, buy first.
If maximizing the sale of your current home is yourย #1ย priority, sell first.
So whatโ€™s the right thing to do? Should buy or sell first? ๐˜๐˜ต ๐˜ณ๐˜ฆ๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ฅ๐˜ฆ๐˜ฑ๐˜ฆ๐˜ฏ๐˜ฅ๐˜ด ๐˜ฐ๐˜ฏ ๐˜บ๐˜ฐ๐˜ถ๐˜ณ ๐˜ช๐˜ฏ๐˜ฅ๐˜ช๐˜ท๐˜ช๐˜ฅ๐˜ถ๐˜ข๐˜ญ ๐˜ด๐˜ช๐˜ต๐˜ถ๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฐ๐˜ญ๐˜ฆ๐˜ณ๐˜ข๐˜ฏ๐˜ค๐˜ฆ ๐˜ง๐˜ฐ๐˜ณ ๐˜ณ๐˜ช๐˜ด๐˜ฌ. If youโ€™re thinking of buying & selling, weโ€™d be happy to talk through your options & help you decide if you should buy or sell first! Contact us [email protected]