Moving home
Should you sell before you buy?
It is one of the biggest questions when you move: do you sell your current home first, or find your next one before you sell? There is no single right answer, and the best choice depends on your finances, the market and how much certainty you want. Here is how the two approaches compare, so you can decide what suits your move.
Selling before you buy
Selling first means you know exactly how much you have to spend and you become a chain-free buyer, which sellers love. The main trade-off is that you may need somewhere to live for a short while if you sell before you find your next home.
The upsides:
- You know your exact budget, with your sale money ready to go.
- You are in a strong position to negotiate, as a proceedable, chain-free buyer.
- No risk of carrying two mortgages at once.
The trade-offs:
- You might need to rent or stay with family in between.
- You could feel under pressure to find your next home quickly.
Buying before you sell
Buying first means you can secure the home you love without rushing, and move just once. The risk is that if your own sale is slow, you could be stretched, or you may need short-term finance to bridge the gap.
The upsides:
- You do not miss out on the right home while waiting to sell.
- You can plan a single, straightforward move.
The trade-offs:
- You may need to fund two properties for a period, or arrange bridging finance, which can be costly.
- Pressure to sell quickly can push you into accepting a lower offer.
Many people successfully buy and sell at the same time, lining both transactions up to complete on the same day. It takes careful coordination, which is exactly where a good local agent and solicitor earn their keep.
Which is right for you?
If certainty and negotiating strength matter most, selling first is usually the safer route. If you have found a home you cannot bear to lose and your finances allow, buying first may be worth the risk. Either way, getting your own home valued and on the market early keeps your options open. If you would like to talk it through for your situation, our sales team is happy to help.
Frequently asked questions
Should I sell my house before buying another?
Selling first puts you in a stronger position as a buyer and removes the risk of two mortgages, but you may need somewhere to live in between. Buying first is more convenient but riskier if your sale is delayed. The right choice depends on your finances and how much certainty you want.
What is a chain in property?
A chain is a sequence of linked purchases where each sale depends on another completing. Selling before you buy can make you chain free, which is attractive to sellers and can speed things up.
What is bridging finance?
Bridging finance is a short-term loan that lets you buy a new home before your current one sells. It can be useful but tends to be expensive, so it is worth taking proper advice before relying on it.
Can I buy and sell at the same time?
Yes, many people do. It takes careful coordination so that both transactions complete on the same day, which a good estate agent and solicitor can help manage.
Weighing up your move?
Speak to an estate agent
Every move is different, and a quick chat can help you decide the best order for yours. Give us a call for friendly, no obligation advice from a local team.
Call us on 01689 490050