Should I Sell My Property Before Buying a New One?

If you’re considering moving home, one of the biggest decisions you’ll face is whether to sell your current property before buying a new one.

It’s a question we hear often from homeowners in Scotland:

❓ Is it better to sell first, or should I buy before selling?
❓ What are the risks of selling before buying?
❓ How does the Scottish property market affect my decision?
❓ How can I avoid a property chain?

At Compass Estates, we understand that every homeowner’s situation is different. That’s why we’ve put together this comprehensive guide to help you weigh up your options and make the best choice for your circumstances.

Selling Before Buying: The Pros and Cons

Many estate agents recommend selling before buying, as it puts you in a stronger financial position when making an offer on your next home.

✅ Advantages of Selling First

✔ Stronger Buying Position – Buyers who have already sold their property are seen as more attractive to sellers, giving you an advantage in competitive markets.

✔ Clearer Budget – By selling first, you know exactly how much money you have to put towards your next property.

✔ No Risk of Two Mortgages – If you buy first and struggle to sell, you could be stuck paying two mortgages at once, unless you enter a chain.

✔ Avoids Being Rushed – Selling first gives you time to negotiate the best price, rather than feeling pressured to accept a lower offer to fund your next move.

✔ Reduces Property Chain Risks – Property chains can be stressful and unpredictable. Selling first reduces the chances of a collapsed sale delaying your purchase.

❌ Disadvantages of Selling First

✖ May Need Temporary Accommodation – If you haven’t found your next home by the time your sale completes, you may need to rent or stay with family.

✖ House Prices Could Rise – If the market is rising, waiting too long to buy could mean higher prices for your next home.

✖ Moving Twice – If you need to rent in between, you’ll have to move twice, which can be inconvenient and costly.

Buying Before Selling: The Pros and Cons

Some homeowners prefer to buy first, especially if they’ve found their ideal property and don’t want to risk losing it.

✅ Advantages of Buying First

✔ You Secure Your Dream Home – If you find the perfect property, buying first means you won’t miss out due to waiting for your own sale.

✔ No Need for Temporary Accommodation – You can move straight into your new home without renting in between.

✔ Less Pressure to Sell Quickly – If you’ve already bought your next property, you can take more time to sell at the right price.

❌ Disadvantages of Buying First

✖ Increased Financial Risk – If you don’t sell your current home quickly, you may struggle to pay two mortgages at once, unless you can tie into a chain.

✖ Harder to Secure a Mortgage – Many lenders prefer buyers who have already sold or have a sale agreed. Some may require a larger deposit.

✖ Weaker Negotiating Position – If you’re relying on selling your current home to finance your purchase, sellers may not take your offer as seriously.

✖ You Might Have to Accept a Lower Offer – If you’re under pressure to sell quickly, you might accept a lower price than your property is worth.

How Does the Scottish Property Market Affect Your Decision?

The decision to sell first or buy first depends on market conditions:

? Buyers’ Market (More Homes for Sale, Fewer Buyers) – Selling first is usually best, as properties take longer to sell, and you may need time to find a buyer.

? Sellers’ Market (More Buyers, Fewer Homes for Sale) – Buying first may be tempting, as desirable homes sell quickly, but you must ensure your current home will sell fast.

? Stable Market (Balanced Supply and Demand) – Either option could work, but many homeowners still prefer to sell first to avoid financial risks.

How to Buy and Sell a Property at the Same Time

If you want to sell and buy at the same time, here are some tips to reduce stress and improve your chances of a smooth transition.

Get Your Home Ready to Sell Early

Even if you haven’t found your next home yet, start preparing your current property for sale:

✅ Get a free valuation to understand its market value.
✅ Obtain a Home Report (mandatory in Scotland).
✅ Declutter and make minor repairs to improve its appeal.
✅ Instruct a reliable estate agent to market your property.

Book your free property valuation here

Speak to a Mortgage Advisor

Before making an offer on a new property, speak to a mortgage advisor to:

• Understand how much you can borrow if your current home hasn’t sold.
• Get a mortgage agreement in principle to show sellers you’re serious.
• Check affordability if you need to own two homes temporarily.

How Compass Estates Can Help

At Compass Estates, we make buying and selling at the same time as easy as possible.

✅ Expert Valuations – Get a realistic valuation to help plan your move.
✅ Proactive Sales Strategy – We market your home effectively to secure a quick, profitable sale.
✅ Negotiation Support – We help you secure the best deal whether buying or selling.
✅ Smooth, Stress-Free Process – Our team guides you every step of the way.

Book a Free Property Valuation Today

Thinking of moving? Start with a free, no-obligation valuation with Compass Estates.

Book your valuation today and let us help you buy and sell with confidence.

Click here to book now

Let’s make your move simple and stress-free!