With the property market still a bit sluggish, a number of home owners are adopting a policy of Sell first buy later in a bid to be more smart about the way their property investments. Read on for advice on making this policy work for you. http://www.icpm.com.au

1. Sell First Buy Later. The New Direction of the Property Market?
In an ideal world, you would be able to sell your house within a few weeks of putting it on
the market. Unfortunately, this is not an ideal world. There are few, if any, guarantees that
your house will sell quickly and this can be problematic if you are banking on the sale to go
through in order to afford your new house. This has led to the growing trend of home
owners that are opting to sell their current property first before looking for a new one. This
does seem to make a lot of financial sense but there are pros and cons to doing things this
way.
Market Variances
The property market, especially of late, is subject to fluctuations. Whilst indications are that
the property market is starting another downward trend, this could easily change by the
time you are ready to purchase your next property. If all goes well, you will end up paying a
bit less for your dream home but, if the reverse happens waiting to buy your real estate
Truganina could prove to be a costly error.
Finding the Perfect Home
The next problem could be that you can't find your new dream and this is what could serve
to put a lot of people off selling first and then buying later. It is best to think about this
logically. What will you end up doing if you cannot find your dream house? Seller's remorse
may be high if you force yourself into a less than ideal home after having sold a great one.
You simply have to decide whether or not you are willing to take a chance and, if so, plan
for what will happen if you cannot find the right deal. Perhaps you need to seriously
consider going into a short-term rental until your ideal real estate Tarneit comes along.
The Big Advantage
Rental may not appeal to someone who has previously owned their own home but consider
the alternative. What if you find the perfect place but cannot sell your current home. Most
purchase agreements include a clause that makes the sale contingent on the sale of a
previous property but imagine how disappointed you would be if you actually had to make
use of that clause. The alternative, of course, would be to keep your old home until it could
be sold but this could also prove problematic. For starters, paying two mortgages is pretty
harsh. What if the other property does not sell for years? Secondly, because of the pressure
to sell, you may accept an offer that is way below market value for your real estate
Altona.
In the end, the decision to sell your house before looking for a new one does require a lot of
thought and is something that you shouldn't rush.
http://www.icpm.com.au