The housing market is changing. Until recently, houses sold within a few days, but selling a house now requires more effort, time and, above all, creativity. Is it smarter to sell your own home first or buy it first? What is the most sensible choice now?
There is no right order that always works. How you approach it depends greatly on the market and your personal situation and, above all, your feelings. That is why it is always wise to seek advice from an expert, such as us as a real estate agent. We know the market and we can assess the situation you are in in no time. We provide example scenarios based on your wishes and then you will automatically find out what is the most sensible choice for you. Depending on your housing needs, your budget and how well your house is on the market, you can anticipate this.
What is the risk of selling first?
Once you have sold, you must look for a home that meets your housing needs. The danger is that you may not be able to find the house you want. Or rising house prices mean that you can no longer buy what you want. This was the reason for many people to first look for another home in recent years. Selling your own home was a success after all. The market is now changing, so consult with your broker carefully to determine the correct order.
What is the risk of buying first?
For several months now, house prices have been stabilizing or even declining slightly. If you buy first, you run the risk of buying expensive and selling your own home for a lower amount than expected. Falling house prices may mean you can collect less equity from your home. This is a real risk if your house is on the market for a longer period of time. In the worst case, you have to drop several percent of the asking price to be able to sell. This can cause a financial setback.
There is no one “best” strategy
Selling and buying a house is tailor-made. There is no buying or selling the same. Buying and selling involve significant financial interests. A misstep can have major consequences. An estate agent cannot predict the development of house prices, but you will receive help in dealing with the current situation on the housing market. Regional differences must also be taken into account. You may live in a region with a very high demand for houses like yours. Or you are looking for a house that is in high demand. All circumstances must be taken into account when choosing whether to buy or sell first.
Are you curious about what the best choice is in your situation? Discuss it without obligation with your Rohlof real estate agent and determine the most suitable strategy for you.