Selling Your 1-Bed London Flat Before Buying
“Should I sell my 1-bed London flat before buying my next home?” is a question that is often asked by people that are thinking of moving…
There are various pros and cons of selling your flat before you buy your next home…
Some of these reasons are:
Pros Of Selling First
You can gain maximum money for your own 1-bed London flat when you sell it because you don’t ‘have’ to sell it in a short amount of time, after having found your dream home.
You’re in a great position for buying your next home because you’re not in a chain.
If you can buy your next home with cash (with the money from the sale of your home) it puts you in a much stronger position.
Due to the fact that you’ve already sold your 1-bed London flat, you will know exactly how much you have to spend.
“If house prices are rising in the area in which you are looking to buy, then over time you may be priced out.”
Cons Of Selling First
You may have to rent for a period of time before you find your dream home.
The sale of your 1-bed flat may take a long time, meaning that it will take even longer to buy your next home.
If house prices are rising in the area in which you are looking to buy, then over time you may be priced out.
Would you ever consider selling your current 1-bed flat before buying your next home?
Would you rather search for your next home whilst you’re in the process of selling your current 1-bed home?