If you are with the majority on this one, and in the current thought process that you need to find your ideal home first, then you are potentially playing a risky game and setting yourself up for disappointment.
To be quite black and white on this topic, if you need to sell your house, to buy your next home…unless you can proceed without selling, you will run the risk of losing out!
Unless you are ready to make an offer, as soon as the right house goes up for sale, you are potentially going to gamble your chances with somebody else that is already in a better buying position. Either they have sold their own house, or if they are lucky, do not need to sell, to buy their next one.
Especially in the current market, where there is a huge supply vs demand imbalance (the scales hugely in favour of demand)! Your potential ‘dream home’, will be someone else’s dream house too! So therefore, getting yourself in the best possible buying position, is the key to avoiding disappointment all round, and losing out on your ‘ideal’ house to someone else.
You simply can’t afford to sit on the fence with this one!
Just to elaborate a little on the supply shortage. Right across the board, even at national level, there is currently more demand for property than there is houses available. Those of you addicted to checking Rightmove http://www.rightmove.co.uk/estate-agents/agent/Harper-Williams-Estate-Agents/Great-Sankey-72315.html, every day for the latest properties coming to the market, will know exactly what I am talking about!
I am hearing lots of, ‘there is very little choice’, or ‘the one we really liked has already gone’, or ‘we weren’t allowed to view because our house isn’t up for sale’!
As a knock-on effect, because there is a larger demand for houses, especially in popular residential areas (where people don’t sell as often anyway, because they are happy and stay for longer), when a house goes up for sale, on average they are selling quicker, and ultimately for a better selling price, due to the competition and demand available.
Think about when you decide to go on a health kick after overindulging all Christmas...Then imagine buying your new ‘slimmer’ wardrobe before you have achieved your target weight?! Would you do this beforehand, or reward yourself with this after?
In my experience, doing it beforehand tends to tempt fate!!!
This chicken and egg house move scenario is a similar concept, only the disappointment if you focus on the wrong one first is far worse. Sadly, I have seen it time, and time again!
When you find your ‘dream home’, time is really of the essence, especially in the current market. Getting yourself in the best possible buying position, will ultimately give you better negotiation power, and will hopefully avoid lots of disappointment and upset for you and your family.
It is probably also worth mentioning, that when you do decide to put your house on the market and take the plunge, that worst case scenario, should you get an interested buyer for yours and you struggle to find something you really want, then you are not obliged to sell. However, in my experience, honesty is the best policy. Advising your viewers/ potential buyers at the outset that you are buying on and do need to find somewhere, is important to helping things fall into place. Usually the right buyer will work with your situation and timescale within reason. Transparency on this though, is essential!
And as a big believer in fate, this usually plays its part too!
So, if you are thinking of moving this Spring, and have been debating over the chicken and egg scenario and which should come first, we would love the opportunity to chat through your moving needs and house moving challenges.
Happy Easter everyone!