May 7, 2021General, Uncategorized

Should I buy first or sell first when moving in Cheadle?

When moving home, it’s always a kind of chicken and egg situation, but the simple short answer, especially in the current climate is you must sell first, unless you are fortunate enough to have the cash available to buy without selling your own home! But let us explore the options further.

Let’s be honest, we have all had a nosey round Rightmove to see what properties are on the market, but also to give us an idea of what we might be able to achieve for our own homes if we are planning to go to the market. But what are the options available to us.

Buying first

For some people, the idea of moving forward is only possible if you know where you’re going. Why on earth would you consider selling your home when you have no idea where you will be moving to?  You may have a clear picture in your mind of the kind of property you are looking for, and until you find it, there is no way you’re going to place your home on the market.  For sentimental reasons you could be struggling to say goodbye to your current home and there is a kind of comfort in knowing what home you will be moving to.

We completely understand all these emotions. Moving home is a huge thing and you want to make sure you get it right but waiting for the right property before you market your own home is not the right move to make, especially at the moment where there is a huge imbalance of buyers to stock, with many buyers in a position to proceed the minute a suitable house comes onto the market.

For financial reasons

You may have an idea of what your home is worth, or even had your home valued, so when you start to look at homes on the market, you will have a sense of what you can afford.  A valuation is not a sold price, and property markets rise and fall over time. The figures you are basing your finances on could be completely different to the actual figures that apply when you start to go through the process.  If they are too far apart, you could potentially lose the home you are looking to buy as well as a few pennies along the way.

Puts you in a weak position

When someone makes an offer on your home, you want to ensure that they are in the best position possible so that things move quickly and smoothly.  As a seller, you are looking for someone chain-free, or in a small chain, who has their finances in order and their home has been sold.  How would you feel if someone made an offer on your property but they hadn’t even placed their home on the market yet?

Because time doesn’t stand still

We would love to tell you that that we can stop time, but that’s one skill that even us estate agents are unable to achieve.  Whether you are wishing to move before the stamp duty returns to normal to take advantage of a discount, or you want to be in before the new school year starts, the speed of the process is always something that concerns buyers and sellers alike.  The process in the UK is not swift, as we know, and anything that feels like it’s dragging its heels can make things seem a thousand times worse.

Even if your offer is accepted by a seller, how long would they be willing to wait for you to sell your home? How long would you wait?  Nothing is more frustrating in a move than delays and waiting for someone to sell can be one delay too far for many, which sadly can see chains collapsing.

Shattering the dream

You have set your heart on your chosen new home and you’re spending your evenings picturing how you will decorate, where your furniture will go and what your life will be like living there.  Dreaming about your new home is what’s making leaving your old one so much easier, to the extent that  emotionally you have already left your current property.  It’s now on the market and you’ve made an effort to make sure it’s looking good for potential buyers, all you need is one buyer to see what a fantastic house it is.  Yet things are not going according to plan. Viewings are getting less, the sellers of the house you want are getting nervous and you can see the dream of your new home shattering all around you. Who needs that stress?

Get it right from the start

SELL YOUR HOME FIRST! Is basically the message! There is only one right way to move and that is to sell your home first. This way, you’ll be putting all your energy into your current home to make sure it isn’t just looking good for buyers but looking amazing.  You will be in a better position financially, because you’ll know exactly what monies you have to play with when you start to look for your next home, and you’ll be in a stronger position to get your offer accepted.  Worst case scenario you don’t have to sell, but if your dream home comes up for sale in a the current market – it could easily be a case of snooze and you lose, no matter how saleable you think your own property is.

We understand the lure of wanting to search for a new home before you sell, but please be patient, you will get to that part of your move quicker if you take our advice and sell your home in Cheadle first. Finding your next home will feel even more exciting when you know you can actually move forward rather than waiting in limbo.

Thinking about moving? Get in touch with Patrick, Joe or Maurice and we can discuss the options and hopefully get you on the first steps to getting your home on the market and promptly sold.  Call today on 0161 428 3663 or e-mail sales@mkiea.co.uk we would love to help.

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