Estate Agent Chicken or Egg: Should You List Before or After Finding Your Next Dream Property?
Deciding when to put your home on the market can feel like what came first chicken or egg? Should you wait until you've found your next place, or get your current home listed first? Let's explore the best approach for you.
Moving home is one of life's biggest adventures, and timing is everything. For many sellers, the question of whether to list their current home before or after finding a new one is a common dilemma. There's no one-size-fits-all answer, as both approaches have their own set of benefits and drawbacks. As your local RedRoots Partner Agent, I'm here to help you navigate this important decision, ensuring it aligns with your unique circumstances and goals.
Listing Your Home First: The Benefits
Many of our clients find that listing their home first offers significant advantages, especially in a competitive market.
- Stronger Buying Position: Having a buyer for your current home puts you in a much stronger position when making an offer on your next property. You'll be a 'cash buyer' in the eyes of many sellers, or at least have a clear chain, which can make your offer more attractive and potentially lead to better negotiation terms.
- Clear Budget: Knowing exactly how much your current home has sold for gives you a precise budget for your next purchase. This clarity helps you search for properties within your financial reach, avoiding disappointment later on.
- Reduced Stress: While it might seem counter-intuitive, selling first can reduce stress. You won't be under pressure to accept a lower offer on your current home just because you've found your dream property and need to move quickly.
- Flexibility: With a sale agreed, you often have more flexibility to negotiate completion dates that suit your onward move, or even consider a short-term rental if needed, giving you breathing room to find the perfect next home without rushing.
Listing Your Home First: The Drawbacks
Of course, there are potential downsides to consider:
- Temporary Accommodation: If you sell quickly and haven't found your next home, you might need to arrange temporary accommodation, which can involve extra costs and the hassle of a double move.
- Market Changes: Property prices can fluctuate. If there's a delay between selling and buying, you might find that the market has shifted, potentially impacting your buying power.
Finding Your New Home First: The Benefits
For some, particularly those with very specific requirements for their next home, finding it first feels like the safer option.
- Security of Your Next Home: You secure your dream property before committing to selling your current one, removing the fear of being 'homeless'.
- Smoother Transition: Potentially, you could align your key handover day perfectly, moving straight from your old home to your new one without any interim period.
Finding Your New Home First: The Drawbacks
This approach also comes with its own set of challenges:
- Less Attractive Buyer: When making an offer on a new property, you'll be part of a chain, which can make your offer less appealing to sellers, especially if they have other offers from 'chain-free' buyers.
- Pressure to Sell: Once you've had an offer accepted on a new home, you'll be under immense pressure to sell your current property quickly, potentially leading to accepting a lower offer than you might have hoped for.
- Risk of Losing Your Dream Home: If your current home doesn't sell fast enough, you risk losing out on the property you've set your heart on, as the seller may move on to other interested parties.
- Uncertain Budget: Without a firm offer on your current home, your budget for the new property is less certain, which can complicate negotiations and financial planning.
RedRoots' Advice: The Strategic Approach
At RedRoots, we generally advise our sellers to list their home first. This strategy empowers you, giving you control and a stronger negotiating position. Our unique 'HeadsUp Property Alerts' also mean that while your home is on the market, you can get exclusive early access to new properties before they hit the national portals. This gives you a head start in finding your next home, often before other buyers even know about it.
We understand that every situation is different. That's why having a dedicated RedRoots Partner Agent by your side, someone who truly understands the local market and your personal needs, is invaluable. We'll work with you to create a tailored strategy, using our professional marketing, presenter-led video tours, and targeted social media campaigns to find the right buyer for your home quickly and efficiently.
Ultimately, the best decision depends on your personal circumstances, the local market conditions, and your comfort level with risk. Let's have a chat about your plans and explore the best path forward for you.