Take the risk out of buying before selling

By Nila Sweeney
  • Approach your financial advisor to work out whether you will be able to afford the deposit on the new home before selling the current property
  • Ask several real estate agents and independent valuers to give you a realistic value on your home before you decide to buy your next property
  • Enlist the help of a good real estate agent to sell your house for a market value price
  • Consult your lender for financing options, because you will need approval for any bridging finance or top-up in your loan before you take any steps towards buying
  • Consider the damage and hassle of renting out your old home while attempting to sell it
  • Consult your accountant on the impact of capital gains tax (CGT) at sale time if you should rent the property out during the sale period
Consider your timing
At sale time: it can take between six and eight weeks to sell your home through auction campaign, or between eight and 12 weeks via private treaty.

When buying: it can take the average homebuyer up to 12 months to find the right property on their own.