Is it better to sell before you buy?
Selling your home first, then looking for a new one is less stressful and risky than buying and selling at the same time.
Selling first means you have freed up any equity and have a good idea of your budget for your next home. You’re also a cash buyer and will have an advantage over anyone who is making an offer conditional on selling their own property. If you can negotiate a long settlement period when you sell, you’ll have more time to find your next property without having to rent or move twice.
Renting or storing belongings between moving out of one home and into another will add to your costs. It may also be time consuming finding and moving to temporary accommodation and potentially disruptive, especially for children.
If you’ve already found your next home and need to sell your current home to finance it, you can make your offer to buy conditional on selling your home. If the seller accepts your offer with that condition, you’ll have time to sell your home within the time-frame set out in the condition. Sellers are likely to find unconditional offers more attractive, so consider this before deciding whether to sell your own home first.
You can talk to your bank or lender about bridging finance, which is a short-term home loan that can help you purchase a new property before your existing home is sold. There is a risk of more bridging finance debt than you planned if your sale takes longer than expected or if you get less than you hoped when you sell your house. If it takes longer to sell your existing home than expected, you may find yourself owning two properties for a while with the associated home loan, insurance and rates costs to pay.
Here's Tuesday's teaser!
I’m found in socks, scarves, and mittens; and often in the paws of playful kittens. What am I?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
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Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Prime Minister delivering apology
On Tuesday 12 November, the Prime Minister will deliver a public apology to survivors of abuse in care in Parliament.
You can register your interest to attend the event in Parliament, or if you want to watch it with friends, whānau or a support person you can attend an event at the Due Drops Event Centre in Auckland, Shed 6 in Wellington or the Christchurch Town Hall.
Contact the Crown Response Unit today:
Phone: 0800 717 017 (8:30am - 4:30pm Monday - Friday)
Email: contact@abuseinquiryresponse.govt.nz
Registration closes 4.30pm Monday 30 September.
Accommodation, travel and food costs will be covered. Travel assistance will be provided in forms of air travel, petrol vouchers, gift cards, and train, and bus tickets.
Poll: What does 'Kei te pēhea koe' mean?
Te Wiki o te Reo Māori (Maori Language Week) is upon us and we always love to get involved.
Add your vote to the poll and share a phrase in te Reo Māori below to be in to win a $25 Prezzy card.
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4.3% You are finally here
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86.5% How are you (feeling)?
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1.5% There are two fish
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7.7% Pass the salt, please
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