Chicken and the egg

Chicken and the egg

Posted on Sunday, December 5, 2021

Moving home is a big decision and one that we all have to get right and the first decision is whether to come to the market before you have found a home to buy?  Yes, is the simple answer.

Finding the property that best caters for your requirements is no mean feat and can take dedication and perseverance especially if you need to sell your own home to facilitate the move.  It is widely understood that you should be at least on the market before searching for a property but the current scarcity of available properties has left many potential sellers waiting for more choice to become available before deciding to sell theirs.  This further fuels the lack of supply, creating even more urgency among those in a position to buy and prices increase.  Of course these prices increases also apply to those homes not yet on the market but if you are looking to upsize any growth you have seen in your property will be less in terms of pounds and pence than the growth of the one you are trying to buy.  Quite simply, the longer you wait, the more expensive it becomes to move.

We are currently experiencing a seller’s market with low supply and high demand so it’s a fantastic time to capitalise on the opportunity of securing a strong sale price but I understand the concern surrounding not finding a property, or feeling pressured into breaking the chain.  That’s when your estate agent needs to manage expectations of your buyer to allow you time to find your next home whilst also supporting you in your search (even if it means pointing out properties listed with another estate agent). 

With Rightmove predicting a further 5% growth in prices in 2022, the sooner you get your move underway, the more cost effective it will be.