When planning a move, one of the most challenging decisions is whether to sell your current home first or buy your next one. Each approach has its advantages—and potential pitfalls. Understanding the pros and cons can help you make the right choice for your circumstances.

Selling First: The Safer Financial Move

Selling your home before buying gives you a clear idea of your budget. You’ll know exactly how much equity you have, which can make securing your next mortgage easier. It also reduces the risk of owning two properties at once. However, you may feel pressured to find your next home quickly, potentially leading to a rushed decision—or needing temporary accommodation. At Sawyer & Co, we can help you navigate this process smoothly.

Buying First: Convenience Comes First

Buying before selling means you can take your time finding the perfect next home. There’s no need to rent in between moves, and you can avoid multiple relocations. But this option can strain your finances, especially if your current property takes longer to sell than expected. It also means juggling two mortgages or bridging finance, which can add stress and cost.

Things to Consider:

• Market Conditions: In a fast-moving market, it might be safer to secure your new home before selling. In a slower market, selling first may be more practical.
• Your Financial Position: Do you have savings or approval for bridging finance?
• Your Timeline: Are you working towards a fixed moving date, such as a school term or job start?

There’s no one-size-fits-all answer. The right strategy depends on your goals, budget, and the property market. With careful planning and flexibility, you can manage your move smoothly—whichever route you take. For expert advice and support, consider reaching out to us at Sawyer & Co.