Should you buy before selling?
Sell before buying or buy before selling? This is the question of homeowners looking for a new home.Buying before selling can be a good option if you find the pearl before you can sell your property.But this situation involves budgeting, and most time, take out a bridging loan.
Buy before sell: for whom?
The choice of this solution is above all conditioned by your financial situation:
Be careful however: you have a maximum of 2 years to find a buyer, and bearing the brunt of a bridging loan can prove complicated for your finances.
Buying before selling: for what reasons?
If the option of buying before selling is possible from a practical and financial point of view, it brings you many advantages.
Real estate purchase favorite
A great opportunity or a house corresponding to all your criteria presents itself: you want to go for it, and not miss this opportunity to acquire the property of your dreams!
It is one of the main levers leading individuals to buy before selling, and this solution allows you to quietly undertake work in your new property.
No transition period
Sell your property, then encounter difficulties in finding accommodation that meets your purchasing criteria: this often encountered situation may lead you to have to rent between the two transactions.
Additional moving, use of a furniture repository: additional costs and loss of time! By buying before selling, you avoid this transition phase.
The disadvantages of buying before selling
But beware: if buying before selling can appear to be an atypical and attractive option, it can nevertheless hold unpleasant surprises for you.
Posted Date: 2020-06-26