“What will I buy if I sell?”

“What will I buy if I sell?” That’s the question a lot of people are asking. The reality is that these people want to sell, their home is no longer practical, it’s usually too big or too small and they are out looking constantly. 

Eventually they find their next home – sometimes their dream home! But then, after months of looking, they realise that the owner of the property they want to buy won’t accept a “subject to sale” clause. 

So these owners are now faced with three options: sell quickly to line up the settlement dates, get bridging finance or find a way to keep both properties. So the question is, what’s better for your situation?

If you sell first, you will know how much money you have and then you buy. If you buy first, you will know that you have a place to move to and then you sell. It usually comes down to the risk profile of the person and their financial position. If you can carry the bridging finance or hold both, then you buy first. If you can’t carry both properties, then selling first is the way to go. Spring usually brings it all together. The new property listings present options to dormant sellers. Those sellers buy and then launch to market and Christmas presents a neatly wrapped deadline to have the properties settled or at least under contract.

The last five weeks before Christmas are always high energy, buyers can be feverish and It’s my favourite time of year to call auctions for that reason. 

Haesley Cush I This article is from the November 19th issue of The Courier Mail Digital Edition. To subscribe, visit https://www.couriermail.com.au/