In the upcoming years, I hope to move into a new home. I want to locate a place that we might never leave, and I also want to make the greatest financial decisions I can. Since we don’t have children in school, we can be quite flexible with our schedule and sell and then rent out a property till we find the ideal one. Does it make more financial sense to sell now and take our time finding the greatest offer and interest rate later on? Spring sale and fall purchase? Any further recommendations?
The ideal way to sell and buy a home requires careful preparation and timing. Begin by assessing your financial readiness and completing market research to establish achievable goals. Consider employing a professional real estate agent to manage the sales process effectively. To minimise disruptions, coordinate the sale of your current property and the purchase of a new one. Secure mortgage pre-approval to help you shorten the purchase process and negotiate more effectively.
Timing the market can be difficult. People who sold in the beginning of 2019 with the intention of buying back in were essentially priced out of the market because prices had increased by 50%.
I would search, and if you discover something, submit an offer. I would apply for a bridging loan if you are financially qualified to do so.