| This question is often a big dilemma for homeowners and
the answer varies for your individual set of circumstances.
Selling your home first before you buy is often the most recommended
option for the following reasons.
- You will NOT be left owning two homes
- You will know exactly how much money you have from the sale of your
home to spend on your new home.
- You will know the date that you have to move and therefore the date
you need to close on your new home
- You will be in a much better position to negotiate an offer on your
new home as you will not have to make it conditional on the sale of
your present home.
- Buying your new home first may result in you owning two homes and
may only be a good idea if you have very little or no mortgage on your
present home.
- The one drawback is you MAY NOT find a home that
you like and therefore may be left without a place to live.
However if you do decide to buy first you must make sure that you have
a long closing date which will give you more time to sell your home and
also put a clause in that allows you to bring the closing date forward
if possible. This often works if the home you are buying is vacant.
Talk this through with me and I will advise on current market conditions
and how they will best fit your needs.
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