Sell First or Buy First?
It’s a hard question for people who have property. Should you sell your property first then shop your next one? Or you need to secure your new home before marketing your current place?
Home sellers and realestate experts weigh in. The current property market spells good news for first time property buyer. The resale like private residential property prices and resale prices of non landed private home have all dipped in 2015 in the first quarter. The prompted analysts predict that property price will correct from 5 to 6 percent in this year.
With the prices softening which it’s a great time to shop for a new home but there are also put upgraders in apickle. Do you sell your current home first before the prices is go down in the further or hold on and you can but a cheaper new home but risk your current home’s value. What is your opportunity cost? If you are caught in the same dilemma you must search for the information from property owner and real estate professionals as much as you can.
Why Sell First?
It’s a easier to manage finances. Unless you have the ability to manage payment for two houses that you prefer to sell your current property before maning purchase next. It can give you more time and resources to reconsider your options.
Why Buy First?
Because of the factor in the opportunity cost if you are observes carefully for the current property market that offers upgraders a great opportunity to buy home more cheaply which have many good buys in the uncomplete condominium market.
So, should you buy or sell first?
There is no easy answer. Of course it’s always more convenient to buy first then sell but often it’s not a matter of preference but matter of the financial ability to suit your convenience. For the most importantly which you should sums carefully to prevent making a costly mistake.