Latest / Your Local Real Estate Expert - The Schultz Realty Podcast / EP18: Buying vs Selling First: How to Make the Right Move
Transcript
- Hi, I'm Sarah Schultz, and welcome to your local real estate expert, the Schultz Realty Podcast. As the award-winning number one agent and agency for Mount Warren Park Bahrs Scrub and Windaroo. I've been helping buyers find their dream homes and exceeding sellers expectations on price and service in our area for over 10 years known as The Property Matchmaker. I'm here to share stats, facts, and insights. To make your real estate journey in the local area seamless and successful. Hi, I am Sarah Schultz from Schultz Realty, and welcome back to your local real estate expert where we talk all things real estate across bar scrub Mount Warren Park, Windaroo, and surrounding areas. Are you ready to make a new move? But do you sell your current place first or do you lock in a dream home and worry about selling later? It's one of the most common questions I hear from homeowners across our area, and the answer isn't always straightforward. Today's episode, I'm gonna delve into all about timing. Should you sell first or buy first? If you're thinking about upgrading, downsizing, relocating, this one is for you. Because the decision isn't just about convenience. It can affect your finances, your stress levels, and how smooth or stressful your move ends up being. The truth is there's no one size fits all answer, but my goal is to help you understand the pros and cons so you can make the right decision for your situation. Your finances and your peace of mind. Let's start with selling first. Selling your home first gives you certainty. You know exactly how much you'll walk away with, which means you can plan your next purchase with confidence. You also won't have to worry about carrying two mortgages, which is a big relief for most sellers. Another benefit you can often negotiate a longer settlement or even a rent back period, which gives you some breathing room while you do find your next place. That flexibility can take the pressure off and help you make clearer decisions, but it's not without some challenges. The biggest one, you might end up needing temporary accommodation if you haven't bought yet, and that can feel disruptive, especially when you've got kids, pets or a lot of stuff to manage. You can also feel a bit of pressure of finding something you love quickly once your property is under contract, but rest assure nine times out of 10 sellers do find something and they find something amazing and they do find it quickly. I worked with a family recently who chose to sell first, and we secured them a great price and negotiated a longer settlement period to give them plenty of time with the pressure off. They took a few weeks to explore and found a fantastic home without financial guesswork or last minute stress. The settlement period was then brought forward almost 30 days as all parties were so excited to get into their next home. Now let's talk about the flip side. If you buy first. This approach is obviously appealing. If you've spotted the perfect property and you don't wanna risk missing out, you can secure your next home and take time preparing your current home for sale. But one of the biggest issues you may have is you're not as appealing as a straightforward buyer to the other seller. So you can get rejected time and time again, which can be very disheartening. So that's when you may need to consider bridging finance. For many people, that means bridging finance. Bridging loans can work well, but they're not for everyone. The interest rates are higher, and there's a bit more pressure to sell quickly on your existing property to avoid racking up too much interest, which in turn sometimes can get more like less than what it's worth, and also be quite stressful. I had a couple, uh, who went this route. They fell in love with a home before they even listed theirs. We worked out a tight timeline together, launched well-prepared marketing campaign and managed to get their home under contract just in time to meet the subject to sale. And it did work out beautifully, but I felt it was a lot more stressful for them the whole way along. So how do you decide what's right for you? Here's a few things. I always encourage my clients to consider. First the market. If you're in a seller's market, meaning there's more buyers than homes, it can make sense to sell first. You're more likely to get a premium price and properties are selling quickly. On the other hand, you may worry if there's not as much stock. What if you can't find anything? I. But if it's a buyer's market where there's lots of stock and less competition, you will also need to secure a sale price first so that you know you've got a contract and then you're not left with two mortgages for a long time. Secondly, your financial position, I. Are you in a place where you could manage two mortgage mortgages even for a short time? If not selling first might be the safest move. But if you have some financial flexibility or you're confident in your borrowing power and your strength of your current home appeal, buying first could be viable, especially with guidance from a mortgage broker and financial advisor. Third, your tolerance for stress. Moving house is already a major life event, so be honest with yourself about how much uncertainty you can handle if you're someone who prefers control. Selling first gives you clearer boundaries. If you're a bit more relaxed or willing to juggle moving parts, buying first might work out fine, especially if you've got an experienced agent backing you up. And fourth, your reason for move moving. If you are upsizing because your family's growing, downsizing after the kids have moved out or relocating for work, your motivation often guides which option will suit you best. For example, a time sensitive job move might force a quicker decision while a lifestyle upgrade could allow you for a bit more flexibility on that timeline. Now, here's something that might surprise you. You could be strategic and time both well. That's where working with an experienced local agent really matters. I can help you coordinate a smart timeline, negotiate settlement periods, or even structure a subject to sale offer if you're buying first. Though, that approach does depend on the property and the market. Some sellers may not accept it in a fast moving environment, but in others, it's absolutely worth exploring. If you are listening to this and you're thinking, I really don't know what to do next, I want you to know you're not alone, and that's completely okay. It is a big decision, and the right move is the one that works best for you. Your finances, your timeline, your family, and your future plans. So here's my offer to you. Let's sit down and talk through it. I'm happy just to sit down and do nothing more than have a sit down with you about your goals. I'll walk through scenarios, show you recent examples right here around where you live in Beenleigh, Bahrs Scrub, Mount Warren Park, Windaroo,, and surrounding areas. Let me help you map out a plan that puts you in control, less pressure, less stress, just honest advice based on real local experience. Thanks for tuning into the episode of your local real estate expert. I'm Sarah Schultz from Schultz Realty, and I'll see you here next time. Thank you for tuning in with me, your local real estate expert, the Schultz Realty podcast. I'm proud to serve Mount Warren Park BAhrs Scrub, and Windaroo, as a knowledgeable, caring, and reliable resource for all your real estate needs. Whether you are buying, selling, or just exploring your options, I'm here to help you exceed expectations and make that perfect match. If you enjoyed this episode, don't forget to subscribe so you never miss an update and share it with another local who might find it helpful. Until next time, take care. And remember, the perfect property is just around the corner.