Should I sell my current home before finding a new one?

Advantage

If you sell your current home before looking for a new home, you will have a sum of money available to use for this important task. The advantage of this option is that when you have prepared the source of money, you will have the ability to negotiate more strongly in the transaction with the seller of the new home, you can also proactively choose many houses that are suitable for the amount of money you have.

Instead of being pressured to sell quickly to have enough money to buy a new house, the homeowner will have more advantages if the sale of the house is completed, from which they can patiently wait to sell the house at the desired price instead of having to sell quickly or sell at a lower price to have enough money to buy a new house.

In addition, owning two houses at the same time can cause financial pressure, many cases have to borrow from the bank to buy a new house while not selling the old house and have to worry about paying the loan. Therefore, selling the old house in time will help you have financial comfort and focus on finding a new place to live.

Should I sell my current home before finding a new one? (Illustration)

Disadvantages

Selling a home before buying a new one can also bring many risks and challenges, the biggest disadvantage of which is that the seller will not have a place to live while looking for a new home and will have to rent a house. If this situation persists, the homeowner will have to pay a sum of money for temporary accommodation or rent for a house or hotel.

For those who do not have enough time to research the market, it is easy to make hasty decisions to get a place to live early and this can make them regret later.

Things to note when selling an old house to buy a new one

Before selling a house, the seller needs to research carefully and think carefully, calculate the money from selling the old house to see if it is enough to buy a new house. In addition, they can learn about home loan packages and choose a reasonable financial plan.

You can use brokerage services to help your home sell quickly and at a good price. In addition, you should regularly consult the real estate market to keep up with fluctuations and avoid being "fooled" by inaccurate information from brokers.

You should compare the house you are about to sell and the house you are about to buy, from there calculate whether the price is reasonable or not, avoid the situation of selling too cheap and buying back too expensive.

Minh Duc (Synthesis)

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