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Selling a home first gives you peace of mind and puts you in a better financial position no matter what the state of market
Selling your home before buying is the way to go.
My clients Phil and Cheryl are looking to purchase a new home in a neighbourhood with access to both downtown and Vancouver’s beautiful beaches. They have begun the process of looking for a property while waiting to put their current home on the market. They are in a strong financial position to continue to live in their current home until their find the perfect property.
Unfortunately, if you live in Vancouver, this is probably not your scenario!
We are currently in more of a balanced market with some parts verging on a seller’s market as supply decreases. Generally, it assumed in a seller’s market you can buy first, but personally, I still recommend selling. Selling is almost always more stressful than buying.
The fact is most of my clients want to be assured that the equity from their current home is available to them to make a strong offer on their dream home. Waiting for your home to sell adds pressure when you are already locked into a new purchase.
Shannon Vrlak with WESTSIDE Tom Gradecak Realty. She can be reached at shannon@westsiderealty.ca.