That is the question that most people ask themselves when they own a home and are thinking about buying another home. There is no simple answer to this question. 50% of the people asked would say, “Yes, I need to know how much money is in my pocket before I go out and buy another house”. The other 50% would say, “I need to know where I am going before I sell my present home”. The answer really depends on your personality.....Are you a gambler and you like to take chances or are you a more cautious, conservative person?
Many of the people we work with, who already own a home, would like to know where they are going to be living so they do decide to purchase first. There is nothing wrong with this approach as long as they look realistically at the value of their existing home and know what recent homes have been selling for in their area. They also need to be aware if it is a buyer’s or a seller’s market. A buyer’s market is when there are many properties available for sale to choose from. A seller’s market is when there are very few homes available. Problems arise when their expectations are too high in terms of what their home is worth. This could result in them owning two homes.
On the flip side, when people decide to sell first, the positive aspect is that they do not need to guess how much money they will have to buy a property. The negative side is that this type of seller usually ends up settling for something less than ideal since they have to choose from the available homes that are currently listed for sale.
We work with both types of sellers, but it really comes down to your personality and which way makes you feel the most comfortable. We are seasoned real estate brokers and our job is to follow the path that works for you. Please check out our references . A satisfied customer means the world to us!!