Although there is no definitive answer, your sales representative can help you to identify the pros and cons for each scenario, allowing careful consideration against your individual situation and the real estate market as a whole.
If you are looking for unique or hard-to-find features for your new home and the ideal property becomes available, then buying first, although risky, may be worth considering. However, although you could make your offer to purchase conditional on the sale of your present home within a specific time period, you would need to be financially and emotionally prepared should it not sell. This would mean shouldering the costs of two properties at once for an indefinite length of time.
Unless you are purchasing a brand new home, selling your current home first may limit your choices as to what you may wish to buy. It may also necessitate the need to plan and budget for transitional accommodation with family, friends or a short-term rental should your sale close prior to that of the house you have purchased.
Selling first, however, provides excellent advantages. When selling first, you can shop and negotiate knowing precisely how much money you can deal with. Not only does this help you to narrow your choices, but it also strengthens your negotiations with vendors as firm financial offers are more desirable to sellers than competing offers carrying financial conditions.
With more than 20 years of experience in the Wasaga Beach & Simcoe County area, Darlene Anstey can provide valuable guidance to help you make real estate plans with timing comfortable for you and your family.
Contact Darlene! 705-429-4800 darlene@wasagahomes.com
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