Home owners dilema, should you Sell first or buy first?

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It is a tricky decision isn’t it? You currently owned a home and now it’s time for a change. You invited several agents to give you an opinion on what your house is worth and to discuss if you should sell or buy first, wah lah! You get different answers from them. Unfortunately there is no right or wrong to this as it all boils down to individual circumstances and motivations.

Here are my takes to this frequently asked question

Say you have a good equity and your serviceability is strong in this scenario I would always suggest that you buy first. Just be aware that the mortgage repayment will increase significantly but the best of all with not having to put in a subject to sale clause puts you in a better buying position in the eyes of the selling agent and vendors:

Sell first if you have little or no equity and or insufficient deposit for your next purchase, the property may also take a while longer to sell. However It is also prudent to know that should you not find a suitable home after you have sold you may have to end up renting or having to move back to the parents.

Either ways I would recommend to always speak with a broker or lender and also speak with a reputable agent to go through the numbers so to know why you stand.