Bundaberg / Bargara Blog

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Buying Subject to Sale - Do I or Don't I 

Deciding if it is best to buy your next home before you sell your current home is totally up to you, but first you need to take stock of your risk comfort zone. If you are someone who does not like to take risks or becomes too unsettled with the unknown, selling your current home before buying the next one will probably be the best solution for two reasons: 

 

  1. You will know exactly what you have to spend on the next house. 
  2. Less stress!

 

On the other hand, if you are hooked on the rush of the unknown, chances are you could make it work for the best. Ensuring you have a solid, experienced team around you to assist in the journey is prudent. Choosing your Conveyancer with experience in communicating between a number of parties(remember there will be you, the buyers of your home and the sellers of your new home) is key. A Real Estate Agent with integrity and honesty to guide all the parties through the negotiation until settlement(hopefully without a hitch) is also paramount. Not forgetting your family to pour the drinks if the stress levels rise too high.  

 

In my years of being in the industry I have been a part of a number of property transactions that included two or more homes. Keeping a level head and being realistic about price will enable a smooth process. It doesn't have to be hard if you know what to expect. If you are considering buying before selling, take a step back and talk to your Conveyancer and Agent of your choice. It could be the difference between sanity and insanity.

 

Joshua Rub

Principal

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