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When is it Better to Buy a Home Before Selling the Current One?

When is it Better to Buy a Home Before Selling the Current One - When is it Better to Buy a Home Before Selling the Current One?

When you want to change your home, it is usual to sell the one you already have before buying a new one. It is the logical decision to have sufficient liquidity and avoid getting into debt or having to meet the basic expenses of two houses.

However, it is not always the best decision. There are also different circumstances in which it can be much more advantageous to buy a home before selling the one you already have. Calmly assessing what to do, therefore, is essential. When should you consider buying in the first place?

Four cases where it's better to buy a home before selling the old one

1. The real estate market is a seller's market

When the demand for real estate exceeds the offer, we are in a seller's market. That implies that the buyer is at a disadvantage while the seller is in the opposite situation. Since finding a property that suits your needs will take time and consume resources, the idea is to focus on the acquisition. If the property you want to sell is also in an area of high demand, the sale will occur fast.

2. When the idea is to reform, it is better to buy a home before selling

Finding a home that perfectly suits your tastes and needs is not always easy. That's why many people choose to purchase properties that need renovation. On the one hand, its price is lower and, on the other, they offer the possibility of adapting it to your liking.

Buying a home before selling the old one allows you to undertake these reforms calmly, without the rush of moving. And it also gives you time to adapt the property you're going to sell, as small changes significantly increase the value of a property.

3. You've found the perfect home

Good luck sometimes appears, and it is possible to find the perfect property much sooner than you imagined. Waiting for the sale of the old home may mean missing out on the opportunity to buy your desired home. It may take a little effort, but it will surely be worth it.

4. Avoid inconveniences derived from a relocation

A move, especially in families with young children, is always complicated. Buying a home before selling the old one allows you to have everything ready to make the change without the usual stress of this type of operation. It is easier and faster to carry out home improvement jobs or calmly look for furniture if the property is empty.

Buying earlier also means that we'll have the time to resolve issues such as changing schools or doctors. At the same time, we'll avoid the inconveniences of making two relocations if we sell the home and we haven't found a new one when it comes to delivering it.

These are some circumstances where it is better to buy a home before selling the previous one. Besides, the disadvantage of supporting two mortgages can get solved with a bridge mortgage. And what's more, Hacienda (the Tax Office) gives two years to apply the deduction for reinvestment. Therefore, there is a wide margin of time to sell.

Spainhouses.net helps you with the whole process. On the one hand, with a wide range of available homes. On the other hand, by facilitating contact with the best real estate agents.

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