Should you Buy or Sell First?

If you are like the majority, chances are that you will try to do two things simultaneously when it comes to your property. This means that you will try to sell your current home and buy a new one at the same time. While this may work for some people, it certainly does not apply to everyone. Consider the following advantages to see if selling your home before buying a new one is the best option for you.

Advantage 1: Stronger position to buy

If you have the money in the bank and/or a pre-approved mortgage, this would place you as a stronger buyer. Moreover, it provides a stronger motivation to buy. The seller from whom you want to buy would prefer stronger buyers like you as well. If you are trying to sell before you buy, you would make yourself less attractive your seller, who is likely to find undesirable the fact that their sale is dependent upon yours.

Advantage 2: Remain in control of your own sale

Without the pressure of the needing to make a quick sale, you will be unlikely to sell cheaply your old home. Furthermore, you can survey the market and set the best (highest) price for your property, as well as showcase the home in its best condition.

Advantage 3: Time on your side

Many people feel rushed when trying to purchase new properties when their old homes are on the sale line. With no pressure to sell, you can take the time to browse the listings and tour houses at your leisure. Moreover, you can take the time to reorganize your priorities and set out of a list of criteria your new buy should fulfill before venturing out to tackle the listings.

Advantage 4: Showcase the home better to potential buyers

While working in Kitsilano real estate, I've learned that people like to envision their new home with their own things. Without your own furniture and belongings cluttering the space, it makes it easier for potential buyers to envision their happy lives with their own things.

Advantage 5: Stronger negotiation position

If you are not in a rush to buy, you allow yourself a peace of mind which places you in a better position to contemplate all of the pros and cons of a potential buy. This will also strengthen your negotiation with the seller. As well, they will be more convinced to sell if they know they will not have to enter a property chain with you.

We all have specific needs we wish to meet when purchasing or selling Kitsilano real estate. Here’s to hoping you will find the estate of your dreams right here in beautiful Kitsilano. For help on finding the perfect home for you and your family, please refer to our listings

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