Timing your Move
Are you considering a move but unsure about the best approach? Should you sell your current home first and then buy, or should you secure your new home before selling? These are common dilemmas our clients face, and today we want to share our experience in order to help or perhaps provide clarity.
One of the concerns we often hear from our clients is the fear of being out of the market or finding a lack of available properties to purchase, leaving them without a place to call home. However, based on our experience, we believe that now is an opportune time for trading in the real estate market. Unlike the price volatility we witnessed in 2021 and even 2022, the current market exhibits little price fluctuation, creating a favourable environment for trading properties.
Unfortunately, we've noticed a recurring pattern among our clients - they often miss out on their ideal next home because they haven't sold their current property and are uncertain about their financial boundaries. We recently had a client who spent nearly two years searching for their next move, continuously encountering disappointment as they were unaware of their true financial capacity. Eventually, they trusted our advice and took the plunge. We successfully sold their property and negotiated a longer settlement period (a growing trend) to provide them with a buffer to find their new home. An off market property was presented and having sold their home and feeling financially secure, they seized the opportunity and secured their dream home.
This is just one example of countless clients we have helped prepare the right strategy and for them to feel confident to make the move.
Our advice is to prepare yourself for purchase as spring approaches. Historically, this season witnesses an influx of available properties, giving you a wider range of choices. By entering the market before spring, you can take advantage of reduced competition when selling your current home.
If you'd like further insights or assistance in planning your property move, don't hesitate to reach out. We're here to provide guidance and support as you navigate this important decision.