Picture the scene. You’re house hunting and have been trawling the internet for what seems like forever. Then one day your eyes are drawn to a beautiful looking home that ticks all your boxes. You visit the property and boom, fall head over heels with it. It’s the one. You make your offer and start dreaming about waking up in this place you’d love to call home.
If this all sounds too good to be true, it’s because, in this scenario, it often is IF you’re making that offer without your current home being on the market already.
Why?
In our experience, when people start looking for a new home before their existing one is under offer it creates several potential issues that can mean being thousands of pounds out of pocket.
When you see a property you love, you can be blinded by emotion and pay over the odds for it. And while you may be smitten with it, sellers usually find buyers who already have their homes under offer much more attractive than those who don’t.
The downside
The real downside in this scenario is you may feel pressured to accept less for your current home because you don’t want to miss out on the one you’ve fallen for. However, if you pay more for your new place and get less for your old one, you can see how that creates a crater-like dent in your finances. So, here’s our advice for homeowners on why it’s a wise move to sell first and seek later.
First, put your home on the market with an agent who has a clear plan and strategy to achieve the best possible price for your property. Once your property is under offer, it puts you in a much stronger position when offering on a new home. This is because you now fall into that attractive buyer category in the eyes of sellers. And you won’t have that pressure of being in a rush to sell your home and potentially accepting under asking price offers because you’re desperate to move to the new place you love.
We’re on your side
We’re here to help you make the best decisions when it comes to moving home. And we’d gladly give you advice on buying and selling.
To speak with one of our friendly, experienced team, call 01664 566210 or send an email to melton@newtonfallowell.co.uk
