Reasons Why You Should Sell before Buying a Home
Published on Saturday, 18 September 2010
Buying a new home can be quite exciting. But never get carried away with the prospect of owning the dream house you have just spotted. Instead of living a great life, you could just end up finding yourself in a deep hole. The thing is it's too risky to invest on something when you are still paying for something else. Even if you expect to sell your current house fast, you really cannot tell. If you are not able to sell your old house, then you'd be maintaining two houses. You'd also be paying for two mortgages. If you don't have budget for this, making the payments would be so difficult. You could risk losing either one of them or even both. Even in a stable market, things could also change in a snap. So if it crashes, then the value of both your houses could depreciate instead. Your expected gains become a loss. So if you have two houses, your losses are double. To make wiser decisions, it would be better to consult a conveyancing firm so you can be guided as to how to process your paperwork. They would also know how the market is running and the trends as well. With proper guidance, buying and selling would be easier. Your investments would also be safer.
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