Bartlett & Partners logo
Menu iconMenu icon

HOM-B

Darren’s insights

Mastering the Real Estate Juggle: To Sell or Buy First

Balancing the task of buying and selling simultaneously can be quite the juggling act. It's no wonder that most homeowners often find themselves asking the same question - should I sell my house first or find a new one to buy?

HOM-B

Share

Naturally, you wouldn't want to list your home for sale without having a clear plan for your next move. Imagine selling your home right away and then finding yourself without a place to live! On the other hand, if you come across your dream house, you'll need to sell your current home swiftly to avoid losing it to someone else - neither sound ideal, hence the predicament!

So what should you do for the best?

Selling your property and moving into a rented home temporarily might seem like a good idea to find your dream home. However, it can get costly with rent expenses instead of paying off your mortgage. Finding a rental property in the current market can be tough due to high demand and limited availability. Plus, what if the market shifts while you're renting? What if interest rates go up, making your mortgage unmanageable, or property prices rise beyond your budget? For some, taking a break from the property ladder isn't an option.

Juggling between selling and buying a property is almost inevitable. So you had better learn how to juggle!

Selling your home

The key to moving forward is putting your home up for sale. So the first task is to get it on the market. It takes time to put the marketing materials together and get everything ready to launch. While it's exciting to look at what's available, focus on getting your home sold first.

Generating interest

No need to panic! Until potential buyers start showing interest in your property, there's no rush to sell it. So, take a moment to relax and let go of any worries. If you happen to fall head over heels for a property right now, it might lead to disappointment because you're not yet ready to make a purchase. While it can be enjoyable to browse through the properties on the market, it's best to refrain from getting too invested at this stage.

Offers

Once the offers start rolling in, your potential buyers will have a timeline in mind for closing the deal. It's crucial to agree on a timeframe only when you have a clear idea of your next move and what the seller of your future property plans to do. This is the perfect moment to start thinking about your next dream home. Let the property hunt begin!

When it comes to accepting an offer on your property and finding your next dream home, the art of juggling lies in effectively managing the sale and the chain of events. And the secret ingredient to this delicate balance is none other than communication. Just like in many aspects of life, not being aware of what's happening can be incredibly frustrating and can cause stress levels to skyrocket. To avoid feeling out of control, it's crucial to stay in constant contact with your agent, solicitor, and financial advisor. They will keep you informed and ensure a smooth transition.

Regular contact with all parties, including updates to the rest of the chain, will ensure that everyone knows what is happening and when. This will keep everyone informed and updated with the process and in control of the situation.

Your agent is the vital link that holds the entire operation together. They have the ability to connect with all the parties involved - buyers, sellers, and other agents - ensuring that you are always fully informed about the progress of your move. Keeping in touch with your agent is crucial to reducing stress levels and staying updated on the ongoing developments. This way, when the time comes to coordinate your moving day, both you and your buyers can adequately prepare, avoiding any unexpected shocks. The last thing you want is to receive an out-of-the-blue notification to move within a week.

If you are considering moving house in Twickenham, Teddington or Richmond, the first task is to get your property on the market. Get in touch with us at Bartlett & Partners to get the ball rolling on your move to your dream home. Call us on 02086141441 or click this link to book in a time for us to meet.

HOM-F

Related Insight

Jun 2024

This is a link to a Blog post

Darren’s insights

The 7 Deadly Sins.

Mar 2024

This is a link to a Blog post

Darren’s insights

The 2023 Property Crash That Cried Wolf and the Pundits Who Predicted Peril

Mar 2024

This is a link to a Blog post

Darren’s insights

The Budding Trends In The Property Market As We Head Into Spring