Buy first or sell first? What’s the best game plan for either strategy?

Buying before you sell

Buying before you sell gives you certainty. You know exactly where you are moving to and how much you are paying, and you can take your time finding the right property rather than settling for what is available in a hurry.

This approach works well in fast-moving markets where quality homes sell quickly and opportunities are limited.

The trade-off is financial pressure. You may need bridging finance or enough equity to carry two properties for a period of time. If your current home takes longer to sell, or sells for less than expected, it can create stress.

Your game plan:

• Get a clear understanding of your borrowing capacity upfront
• Speak to a broker to lock in bridging or conditional finance options
• Consider negotiating an extended settlement so you have some extra time up your sleeve to sell your place
• Prepare your current property for sale early so you can put your place on the market as soon as your offer is accepted
• Have an agent on standby to list your home who is clear on your plans and goals

Buying first is a great motivator to get your house looking its best and on the market. Your agent can help connect you with cleaners and tradespeople so you can keep the ball rolling, and will bring in any purchase-ready buyers who are keen for a fast transaction. 

Selling first

Selling first gives you clarity. You know exactly how much you have to work with, which makes budgeting and negotiating far easier.

This approach suits more cautious sellers or those in uncertain markets where sale prices can vary.

The downside is timing. You may feel pressure to find a new property quickly or need temporary accommodation if you cannot secure your next home in time.

Your game plan:

• Ask your buyer for a longer settlement to give yourself time to find a place
• Confirm your budget and finance for your next move
• Reach out to local agents to let them know what you’re looking for and ask about off-market properties
• Start inspecting open homes while you’re in the process of selling your place so you can meet local agents and get an idea of your non-negotiables. 

Another option when you sell first is to find a short term rental. This gives you time up your sleeve, but can come with additional moving or storage costs. 

With the right advice and preparation, both strategies can work. It is less about timing the market perfectly and more about having a backup plan in place for either scenario.