They seek to get the highest price possible for their current abode and to secure their next home as cheaply as possible. And they hope to get through the process with as little pain as possible. Most think the logical order is to sell your home first and buy second as this way buyers know exactly how much money they have to spend. It stops buyers over-estimating the worth of their current home and finding themselves in dire financial straits having purchased from an overly optimistic position. MORE: Man with 20 homes’ brutal advice Dumbest mistakes bidders make at auction Many people like to sell before buying, but is that the right strategy? Source: iStockSource:istock However, by selling first you may be forced to rent while you look for a suitable new home which can mean two moves. And one of the biggest risks faced if there is an extended gap between sale and purchase is that rising property prices will mean less money as time goes by. In the current market rebound, buying first is possibly the better way to go. Finding a buyer won’t be too much trouble once you have locked in your own shift. It’s because… Read full this story
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