Should You Find Somewhere To Buy Before Putting Your Home On The Market?
One of the biggest questions sellers face is whether to find their next home before putting their current property on the market. There is no perfect order, but understanding the risks on both sides can help you make a much better decision.
If you are thinking about moving, one of the first questions is usually this: do we find somewhere we want to buy first, or do we put our own home on the market first?
It sounds simple, but it can be one of the trickiest parts of the whole moving process. Nobody wants to sell their home and then feel pressured into buying the wrong property. Equally, finding the perfect next home before you are ready to proceed can be frustrating if the seller chooses somebody in a stronger position.
For many people, the best approach is somewhere in the middle.
Why buyers want you to be ready
If you find a property you love and make an offer, the seller will want to understand your position.
If your own home is not yet on the market, you still need to choose an agent, prepare the property, launch the marketing, arrange viewings and find a buyer. That could take days, weeks or longer.
If another buyer is already under offer, or has nothing to sell, the seller may prefer them even if your offer is slightly higher. From their point of view, that buyer represents less uncertainty.
This is why waiting until you find your next home before doing anything with your own can put you at a disadvantage.
But selling first can create pressure
The other extreme can be uncomfortable too.
If you agree a sale on your home before you have found anywhere to move to, you may suddenly feel the clock is ticking. Your buyer will want progress and, if they are in a chain, other people may also be waiting.
That can make sellers feel they need to find something quickly, and buying under pressure is rarely ideal. You do not want to choose your next home simply because you are worried about losing your buyer.
Get your home market ready first
For many sellers, the sensible answer is to prepare before you need to move.
Arrange a valuation. Understand what your home is realistically worth. Choose the agent you want to use. Think about photography, presentation and any small jobs that need finishing.
You can even have everything ready so that if the right onward property appears, your home can be launched quickly. This puts you in a stronger position without forcing you to sell before you are comfortable. It also means you are not starting from scratch when you suddenly find a property you want.
Start looking before you launch
There is nothing wrong with viewing properties before your own home is fully on the market. In fact, it can be useful.
You may discover that what you thought you wanted is not actually right for you. You might change your preferred area, budget or property type once you start viewing.
The difference is between looking and expecting another seller to treat you as ready to proceed. You can explore the market and understand what your budget buys, but if the perfect home appears, you may need to move quickly with your own sale.
What if you find the right home first?
If you do find something you want before your own property is sold, explain your position honestly to the estate agent and seller.
If your home is already prepared for market and can launch immediately, that is very different from somebody who has not even arranged a valuation. The seller may be prepared to give you a short window to secure a buyer, particularly if your offer is strong.
But you should not assume they will wait indefinitely. The quicker you can demonstrate progress, the more confidence you give them.
What if you sell first?
If you accept an offer before finding your next home, be clear about your position from the start.
A good agent should make your buyer aware that you still need to find somewhere, rather than creating unrealistic expectations about timescales. You can then search seriously, knowing that you are in a stronger position when you make an offer.
Being under offer makes a big difference because it shows a seller that you have already dealt with one of the biggest uncertainties in the chain.
There is no perfect order
Every move is different.
Some sellers need to secure a very particular type of property and are not prepared to sell until they find it. Others value certainty and want their own home sold before they become serious buyers.
Finding first gives you comfort but can weaken your buying position. Selling first strengthens your position but can create pressure if the right home does not appear quickly.
For many people, the best strategy is to get completely ready to sell, start looking seriously and then launch quickly when the right moment comes. That gives you flexibility without leaving you unprepared.
If you are thinking of moving but are unsure which order makes sense for you, speak to us before making any decisions. We can look at your likely sale price, current buyer demand and the type of property you want to buy, then help you plan the move in the right order for your circumstances.
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07969 638349
duncan.kaye@keysandlee.co.uk
