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It has been said that buying a property before selling is risky, however, if you research the current property market and look at where it is heading, you can plan for when the best time to buy and sell is.

It is a rare occasion where a home owner is able to both sell their property and purchase another at the same time.

Depending on the market, home owners may sell their home quickly, but spend months trying to find a new property. At the other end of the scale, they may find and purchase a new home but are unable to sell their existing home, resulting in a larger financial burden of two mortgages.

As these situations happen all too often, you need to ask yourself: Do I buy or sell first?

The state of the property market is one of the biggest factors you need to look at before deciding to buy or sell first. At the moment, there is a demand for housing, so not only are there a lot of potential buyers looking, but property prices are starting to rise. This is great news if you are looking to sell. However, it may be harder to purchase a property.

If you do manage to purchase a property now, there is the risk of the market slowing, causing prices to drop and you may not be able to get the sale price you wanted for your existing property.

It has been said that buying a property before selling is risky, however, if you research the current property market and look at where it is heading, you can plan for when the best time to buy and sell is.

Considerations before buying or selling:

• Value of your home: Ensure you get a realistic value on your existing home before putting it on the market. This can give you an idea of what you will be able to afford when purchasing. Ensure you get a realistic value on your existing home before putting it on the market. This can give you an idea of what you will be able to afford when purchasing.

• Choose the right real estate agent: If you choose an experienced, professional real estate agent, you may have a better chance at selling your house quicker.

• Finances: Before purchasing a new property, you will need to get pre-approved by your lender. If you suspect you might be at risk of falling in love with a property to purchase prior to selling, get your lender to assess you for bridging finance or having two mortgages. If neither of these are an option due to your income or equity, then that is your answer, you have to sell before you buy.

• Impact on your life: What will happen if you have to rent for a few months until you find your new home or have to pay for two mortgages? How will your family cope? These are important questions to consider before moving ahead.