Is it better to sell before you buy?
Selling your home first, then looking for a new one is less stressful and risky than buying and selling at the same time.
Selling first means you have freed up any equity and have a good idea of your budget for your next home. You’re also a cash buyer and will have an advantage over anyone who is making an offer conditional on selling their own property. If you can negotiate a long settlement period when you sell, you’ll have more time to find your next property without having to rent or move twice.
Renting or storing belongings between moving out of one home and into another will add to your costs. It may also be time consuming finding and moving to temporary accommodation and potentially disruptive, especially for children.
If you’ve already found your next home and need to sell your current home to finance it, you can make your offer to buy conditional on selling your home. If the seller accepts your offer with that condition, you’ll have time to sell your home within the time-frame set out in the condition. Sellers are likely to find unconditional offers more attractive, so consider this before deciding whether to sell your own home first.
You can talk to your bank or lender about bridging finance, which is a short-term home loan that can help you purchase a new property before your existing home is sold. There is a risk of more bridging finance debt than you planned if your sale takes longer than expected or if you get less than you hoped when you sell your house. If it takes longer to sell your existing home than expected, you may find yourself owning two properties for a while with the associated home loan, insurance and rates costs to pay.
It’s Riddle Time! Beat the Neighbourhood with Your Smarts!
Which of the following words don't belong in the group and why?
CORSET, COSTER, SECTOR, ESCORT, COURTS
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
Want to stop seeing riddles in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Live Q&A: Garden maintenance with Crewcut
This Wednesday, we are having another Neighbourly Q&A session. This time with John Bracewell from Crewcut.
John Bracewell, former Black Caps coach turned Franchisee Development Manager and currently the face of Crewcut’s #Movember campaign, knows a thing or two about keeping the grass looking sharp—whether it’s on a cricket pitch or in your backyard!
As a seasoned Crewcut franchisee, John is excited to answer your lawn and gardening questions. After years of perfecting the greens on the field, he's ready to share tips on how to knock your garden out of the park. Let's just say he’s as passionate about lush lawns as he is about a good game of cricket!
John is happy to answer questions about lawn mowing, tree/hedge trimming, tidying your garden, ride on mowing, you name it! He'll be online on Wednesday, 27th of November to answer them all.
Share your question below now ⬇️
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
Loading…
