Shall I market my home to sell before I've found somewhere or shall I find somewhere first?!
One of the most frequent questions we get asked, read on to hear our advice.
Shall I market my home before I've found somewhere or shall I find somewhere first?!
We get asked this question A LOT and it's an understandable dilemma for most people.
Should you market your home before you've seen a property you like or should you wait until you've found somewhere.
The answer, especially in a market where supply is low is to list your property even if you haven't found anywhere yet. There are two reasons for this:
1 - If your property is on the market or even under offer you'll put yourself in a much stronger position when you do find a property you like. If you're in competition with a rival buyer who has a property to sell but is not yet even on the market then you'll look a more attractive buyer to the seller. Likewise if your property is not on the market but a rival buyer is or is even under offer then you're likely to miss out.
2 - If you're already under offer then you'll know exactly what your budget is moving forward. It would be heart-breaking to find the perfect home, only for you to subsequently receive offers on your current home that don't allow your budget to stretch.
A worry that people have is that they don't want to have their place under offer and keep their prospective buyers hanging on for too long in the event that it takes a while for them to find their new place. While that concern is understandable, we find in most cases that buyers hang on for as long as is necessary. It's important to remember that the person waiting to buy your property has fallen in love with it and are already emotionally invested in their 'new home'. They will have also been aware at the point of making an offer that you are yet to find a new property, so should be something that they've factored into their plans.
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