Buying? Selling? Or Both?
There are many reasons for making the decision to move home.
Growing families, empty nesters, different job or a transfer, fresh start, desiring a sea or bush change, or wanting a challenge are all good reasons for making a move like this.
Whatever your reasons, you may be in a position where you need to sell your old home first before you can buy elsewhere. But if you sell your home before you find somewhere else, what do you do in the interim? So many questions and not any hard and fast answers.
Bunbury Real Estate know exactly how you might feel in this situation. We have put together some thoughts and tips that may help you decide what is best for you.
Do Your Homework
When you get serious about making the move it is important to scope out what is happening in the area where you currently live and the area you want to live in.
What are homes selling for in these areas? What can you get for your home? How much can you afford to spend on your new home? Should you consider renting your home for a while or will the bank loan you money for two mortgages if it comes to that? Can you arrange a simultaneous settlement? What are the markets like in these areas?
Buyer’s Market
If the area you are living in now is experiencing what they call a buyer’s market then it is important to have your home market ready. This will mean catching up on all those maintenance jobs you have, cleaning up the yard and maybe adding that coat of paint you have been planning.
This is an ideal time to pack away your collection of AFL memorabilia, to tidy up your crafting area and to get rid of all those toys the children don’t play with anymore. In fact, sell or give away anything you don’t want and pack away all your worldly possessions as prospective buyers prefer to see a home free of clutter.
Seller’s Market
A seller’s market usually means that as soon as your property is on the market it will be snapped up straight away.
This does not mean you should not do what you would do in a buyer’s market though, as you really want to get top dollar for your property as you may have to buy in a seller’s market yourself.