To buy or sell, or both?!
Whether you are upsizing because your family is expanding, your job is changing or you are relocating to be near family, selling your property for the first time whilst trying to find the perfect next property, can be daunting.
Making sure you are prepared is key, so we have compiled some suggestions on how to make the process as smooth as possible.
Get your home on the market
The best tactic if buying and selling at the same time is often to do just that – have your house on the market at the same time as looking for somewhere to buy. It’s important to put the wheels in motion so that you are in a better position when offering on a new house. Being more proceedable may be the difference between having your offer accepted or declined on your dream property.
Before this however, it may be beneficial to consider that you don’t have to buy and sell at the same time. If you can afford to organise the sale of your house and either move in with friends or family or rent for a short time whilst you buy, it may put you in a stronger position for buying your next property.
Do your research
There is likely to be an important reason behind moving to your second home, whether it is upsizing as your family is expanding, downsizing because your kids have moved out, or perhaps moving for a new job, make sure that you do your research in to where you are moving and why. Checking public transport links, or commute times could change your opinion on areas you may have previously considered or not considered. Considering local school catchment areas for the future may save you having to move again sooner than anticipated. This is where one of our local experts can help; not only do we know the area but also takes the time to get to know you, to best advise you on your next move.
Get your finances in order
Now that you have decided you need to move it is important you make sure your finances are in order. It is important to check the terms of your current mortgage, for example is there an exit fee that you will need to pay when you get a new mortgage and how you go about organising this. Speak to our mortgage advisers for advice on the best next steps for you.
When looking over finances, make sure to weigh up the costs of moving as well as the cost of property. It may have been quite a few years since you bought your previous property and it’s easy to forget costs of moving when you’ve been living in your property a while. Costs such as solicitors, stamp duty and even cost of removal vans are all things that need to be considered when looking at what you can afford. Of course, if you decide that you perhaps can’t afford to move then there is always the option of extended or changing your own home in the interim. Our ‘to move or improve’ blog may help with deciding what could work for you.
Preparing your home for sale
Once you have decided to put your home on the market and have considered your finances, the next step is getting ready to sell.
Check the market thoroughly and consider moving prices in the area. When deciding on your agent, make sure to choose one that has your best interests at heart. Working with an agent that values you could be the difference between a stressful and difficult process and a smooth and simple sale. Having an expert to manage the process, frees up your time to focus on preparing the house for your move.
Getting your house ready for viewings is also an important step. For tips on preparing your house for selling, read our handy selling guide or this blog on making sure your house is camera ready.
The next steps.
Buying and selling simultaneously may seem like an incredibly daunting task, especially if you it’s your first time selling. Working with an agent that can guide you through the process can cut out a lot of work and hassle for you and make all the difference to a time of big change for you and your family.
For more on tips to buying and selling property, nearest branch a call.