There are many of us out there who are currently searching for a new home while also trying to sell the one that we currently live in. It is a precarious balancing act that is pretty difficult to carry off but it is entirely possible. Clearly you don’t want to move out of your current property and into the new property until you have the money to do such a thing and so you need to juggle your life and deal with different lending institutions in an attempt to make everything go a little bit more smoothly. Clearly it’s not easy to do such a thing and so any help they can be given to you along the way would be very much appreciated.
If you are trying to sell and buy at the same time then it is incredibly important that you try to save yourself money whenever you can. You do not want to be paying over the odds for your new property and you certainly do not want to be selling your current property for less than market value. This is when PropertyPricer’s property valuations in NSW become incredibly invaluable because you will get a more accurate picture of what the properties are worth and this will allow you to make better financial decisions. If you are currently caught up in the above situation where you are both buying and selling at the same time then maybe the following tips can help you to navigate the whole process.
- Your current home first – You may think that you can juggle both things at the same time but it makes a lot more financial sense to focus your energies on the sale of your current property for now. There is very high demand in the housing market at the moment and so you can use this to your advantage. Things cannot begin to happen until you get a firm offer on your current property and so it doesn’t make sense pursuing the purchase of a new one until you figure this out first.
- There will be an overlap – You cannot realistically expect to sell your property and buy the one that you have your eye on the same day. You would need to be incredibly fortunate for this to happen and so you should be doing everything that you can to close the gaps between one and another but you still need to be aware of the realisation that you’re going to have to continue to pay the mortgage on your current home until the new buyers sign on the dotted line. If you have already chosen a new home and a mortgage has been agreed then you’re going to have to pay that one as well.
It can be a bit of a minefield out there when trying to sell your current home and purchase another one around the same time. This is why a valuation is so incredibly important so that you get the best price when you are selling and the best price when you are buying.
