Should you market your home before you find your new dream home?
One of the questions we frequently encounter is whether it is better for an applicant to already have their home on the market.
This is ultimately a decision for the applicant but there are a number of things to consider.
Firstly, if you were selling your home, a question you should ask yourself is this, would you be prepared to wait for your buyer to sell their own home? If the answer is no, then you have pretty much settled your position.
The other factor that all home sellers and buyers must consider is their own mortgage position.
An Estate Agent cannot advise on a mortgage and therefore the applicant is recommended to visit a bank or mortgage broker with a view to obtaining approval in principle for a mortgage. It is best that this is done before you set the idea of moving in motion. Once you have done this, you will then at least be able to demonstrate to home sellers that you are serious about moving home.
Most sellers are keen to move and in a fast-moving market, which it has been for a while, there is little time for a seller to wait for a buyer. Frequently we find that people will put themselves in the position where they move into short-term rental or back to parents so that they are in a position to buy.
If you are thinking of moving home it is always best to get a valuation of your property, in part so you know how much you may be able to afford for your onward move but also as a sign of intent. Please do not hesitate to book a valuation with us today.