1 Forget notions about the 'right' time to sell
There has long been speculation that Spring is the best time to sell your home because there are more buyers in the market.
These days however, property super cycles no longer exist. Gone are the days when there was a better time to buy or sell your home. Today, with buyers and sellers constantly in the market, the best time to buy or sell a home is actually when you’e ready.
2 Sell first. Buy later.
When you’re in a mindset to upgrade to a new home, it can be very tempting to start looking at properties listed for sale – and make an offer on a place before you sell your old home. But giving in to this temptation can leave you financially skewered.
Despite any claims by the selling agent, no one really knows how long it’ll take to sell your home, and if it isn’t snapped up quickly you could be left in the challenging position of juggling two mortgages at once.
Selling before buying may mean a few weeks couch-surfing with friends or in-laws, or even taking out a short term rental until you settle on a new home. But at least you won’t face a cash squeeze that could drag on indefinitely if the market is slow.