Should You Sell First or Buy First? Pros and Cons
One of the most common questions we hear from clients is: “Should I sell my current home before buying my next one, or buy first?” There isn’t a one-size-fits-all answer—each approach has benefits and risks. Understanding your options can help you make the decision that suits your circumstances.
Selling First: The Pros and Cons
Pros:
Security: Selling first removes the pressure of juggling two properties. You know exactly how much money you’ll have from the sale, which can guide your next purchase.
Smoother finances: There’s no risk of overlapping mortgage commitments or bridging loans.
Stronger negotiating position: Buyers may be more attracted to your property knowing you’re not part of a chain dependent on another purchase.
Cons:
Temporary housing: You may need to find a short-term rental or storage solution if you haven’t found your next home yet.
Market timing: If property prices rise quickly, you might miss out on your ideal home while waiting to sell.
Buying First: The Pros and Cons
Pros:
Flexibility: You can move when it suits you, especially if you find your dream home.
Less stress about timing: You won’t need to coordinate a simultaneous sale and purchase.
Cons:
Financial risk: Carrying two mortgages or arranging a bridging loan can be expensive and stressful.
Chain complications: If your current home takes longer to sell, you may face overlapping costs or deadlines.
Negotiation pressure: Sellers may prefer buyers who aren’t tied to a chain.
Chain Considerations
Chains are a key factor in timing. If your sale or purchase is part of a chain, delays can happen at any point. Selling first reduces your dependence on other buyers, while buying first may add extra pressure if your current home hasn’t sold yet.
Managing Risk vs Security
Sell first = more security but less flexibility.
Buy first = more flexibility but greater financial risk.
Your comfort level with uncertainty and your financial position often determine which approach is best.
Flexibility Options
Some homeowners use short-term rentals, bricks-and-mortar storage, or flexible moving dates to bridge the gap between selling and buying. Others arrange a “sale agreed” contingency in offers, though this depends on market conditions and local practices.
How Estate Agents Can Help
Experienced agents can guide you through the timing and chain management, offering:
Market insight: Understanding how quickly properties are selling in your area.
Strategic advice: Helping you plan the sale and purchase to minimise gaps.
Negotiation support: Structuring offers with realistic timelines to protect you financially.
Bottom Line
There’s no perfect answer—selling first offers security, while buying first offers flexibility. By understanding the pros, cons, and chain implications, and working closely with your estate agent, you can make a decision that balances risk, timing, and personal circumstances.