The housing market is slowing down; what’s smarter, sell first or buy first?

The house prices have dropped significantly in the past quarter after years of increasing.  It’s therefore not surprising that the housing market, with the rising interest and inflation, is slowing down. What is sensible? Sell your home first or buy a home first?

In case you sell your house first, you’ll get more certainty about what you’ll ultimately have left and how much equity you can take with you to your possible new house. In addition, it avoids double housing costs. The disadvantage is that you’ll never know when you have to leave your home. When this happens, you’ll have to buy a house under pressure.

If you buy a house first, you’ll be at risk of getting double costs when you can’t sell your house. When moving to a new home, it’s possible to take your current mortgage with you. It’s important to realize that when you use your old mortgage deduction, you’ll be obligated to deposit the equity of your old home in your new home. The good news is that you’ll have the same costs as before.

Therefore, it’s important to hire a realtor and financial advisor to make strict plans, so you can limit the risks. VERRA Makelaars has a wide range of contacts that will help you with buying your dream home and sell your own home.