Buying and selling properties at the same time may seem like a stressful ordeal, however, it is more than achievable; your secret weapon is research and preparation.
In most instances, people opt for the conventional route of selling their property, then purchasing another. It reduces risks and removes the need to rush bridging finance. However, buying and selling can most definitely be done simultaneously but it comes down to market conditions. You need to research the competition and realistically understand where your own property sits and how much it’s worth. Most vendors encounter challenges when they want too much for their property or a bargain that can't be found when out house hunting.
Another discussion that needs to be had is finance, with your financial institution. Financial preparation takes major stress out of buying and selling simultaneously. Sitting down with your financial institution and knowing exactly where you stand is extremely important, so you know how much money you have to play with to find the dream home.
As of August 2019, we are definitely in a buyer’s market. This means that a good option may actually be considering buying first, then selling later. This is can save you thousands, especially if you are upsizing. Remember, when you are buying and selling at the same time, it is all about the changeover figure. Don't fight the market for something better when the numbers work out for you now. Even if it means you are stretching a little to sell and get the home want, over a long term 30 year loan, it probably won't mean that much.
Ultimately, when it comes to buying and selling, juggling both at the same time can be a task but it can be done. It comes down to doing your research and being prepared.
About Aurora Estate Agents
Aurora Estate Agents are a new breed of real estate professionals which are highly focused on their core values: integrity, accountability, transparency, client focussed and process driven. Aurora Estate Agents’ dynamic team is a collaboration of effective marketers, residential sales agents and residential leasing consultants.
South East Melbourne, which includes Berwick, Narre Warren, Beaconsfield, Clyde North, and Cranbourne is the country’s property boom hotspot. Aurora Estate Agents is perfectly positioned with a broad spectrum of property expertise to provide the best advice and skills for homeowners, investors and developers to ensure they continue to maximise growth and take advantage of existing market conditions.
Article by Andrew Nguyen
