Welcome to the Selling Southport Podcast. I'm Andrew Wright, principal of Professional Southport since 2008. Real estate isn't just my career, it's my passion with decades of experience. I know what it takes to succeed in the property market. Especially here in Southport, whether you're looking to buy, sell, lease, or invest, you can count on me and my team to deliver strategies that maximize your returns.

Let's dive into today's episode and get you one step closer to your property goals.

Upgrading or downgrading. Should you sell first or buy first? You're ready to make a move. You're thinking about your next home, maybe even have your eye on something. But then the big question hits, do I sell my current place first or do I buy the new one and worry about selling later? It's one of the biggest timing decisions in real estate and at something, almost every seller has to grapple with it some point.

And look, I get it. On the surface, it sounds simple. Just choose whichever one makes more sense, right? But in reality, the choice between selling first or buying first has major implications. It affects your finances, your stress levels, your moving timeline, and how smooth the whole experience feels. So in this episode, I wanna walk you through the pros and cons of both options, share a few local stories, and help you feel more confident about which path could work best for you.

Hi. I'm Andrew Wright from Professional Southport, and welcome back to Selling Southport. Let's start with why this question matters so much. It's not just about what's easier, it's about what gives you control financially and emotionally. If you get the timing wrong, you can end up with a shortfall in your purchase budget, two mortgages and a sleepless night too.

Or nowhere to live in between settlements. But if you get it right, it gives you the breathing space to make strong, confident decisions, and that usually leads to better outcomes all round. So let's break it down. Starting with selling first. Selling first is often seen as the safest route and for good reason.

When you sell your home first, you know exactly how much money you'll have to work with. You remove the risk of carrying two loans and you give yourself the chance to buy with a clear budget and confidence. You can also negotiate a longer settlement, 60, 90, or 120 days in some cases to give you time defined and secure your next home here in Southport.

I've had many clients take this route and come out the other side feeling relieved that they did. I'm thinking of one couple in particular. They sold a low set brick home just near South Board Park. They weren't sure where they wanted to go next, but they knew they didn't want the pressure. So we negotiated a long settlement, and they used that time to explore areas like Shern Park, Labrador, and Ashmore.

By the time they found the right property, they were ready to make a strong offer without juggling finance or rushing through paperwork subject to the sale of their home. Now of course, selling first does come with challenges. The biggest one is what happens if you don't find the next place in time? You might end up needing to rent temporarily or move in with family.

Some clients describe it as living out of boxes. Not ideal, but sometimes necessary. And emotionally, it can feel a little unsettling to sell before knowing exactly where you're moving. But with good planning and the right advice, we can usually avoid these pitfalls. Let's flip the script now and look at the buy first sell later approach.

This is more common when people come across the perfect next home and they're not quite ready to sell yet, but don't wanna miss out. And you know what? That's completely valid. The upside of buying first is simple. You get the home you really want. You avoid making a rushed or compromise purchase if you've negotiated a delayed settlement.

You still do have time to sell properly with a well run campaign. I worked with a young family recently who'd been watching a pocket of homes near TSS and hadn't seen anything for months then, like clockwork, the perfect one hit the market. They didn't wanna risk losing it, so they jumped in with a strong pre-approval and a plan to sell their current place quickly.

We launched their home with a full campaign. Great photos, sharp marketing, and had multiple offers within the first two weeks. Yes, it was tight, but because we'd mapped it all out beforehand, they made it work without losing sleep. But here's where buying first can get tricky. You may need bridging finance, which temporarily covers the gap between owning two homes.

You could be stuck with two mortgages, even for just a month or two. And the pressure to sell quickly can sometimes mean accepting a lower price than you'd like in a strong market. It's also more difficult to convince a seller to accept your offer if it's subject to the sale of your current residence.

As their agent will probably prefer waiting for a cash offer or an offer subject to a short finance period. This approach works best for people with strong financials, good equity, or access to support while both homes are in play. So how do you decide which path is right for you? There are a few key things to weigh up the market.

If we're in a strong seller's market like we've seen at times in Southport over the last 12 months. Selling first can be faster and easier. If it's more of a buyer's market where there's more stock and fewer offers than buying first subject to the sale of your property makes more sense. Right now in Southport, we're seeing freestanding homes across the suburb selling extremely quickly.

Apartments and townhouses with body corporate fees might take a little bit longer to move. So your property type matters, your financial position. Do you need access from your current home to buy? Can you afford the deposit on a new home while waiting for your old one to settle your emotional comfort zone?

Some people are great with uncertainty, others aren't. If stress around timing or finances keeps you up at night, choose the lower pressure option. Your goals. Are you upsizing, downsizing, moving for lifestyle or heading interstate? Each of these comes with different timing and financial considerations and might tilt the decision one way or another.

Just before we wrap up, I wanna quickly mention two common tools that can help people bridge the timing gap. First is bridging finance. It's a short term loan that covers the gap between buying and selling. The idea is that once your current home sells, that money pays off the temporary loan. It's not for everyone, and it can come with higher interest or bank conditions, but it can give people the flexibility to act quickly when the right home comes up.

Second is the subject to sale offer. This is when you make an offer on a new property, conditional on your current home selling. It's not always accepted, especially in a competitive market, but it can be an option if you're buying off market or from a seller who's not in a rush. If either of those tools could help you.

Your agents should walk you through how they work and whether they're appropriate for your situation. So should you sell first or buy first? There's no blanket answer, but there is a right answer for you, and it depends on your goals. Your finances, your timeline, and your appetite for risk, and what the Southport market is doing Now, if you are thinking about making a move and you're not sure which step to take first, I'd love to help.

We can look at your numbers, your goals, your home, and figure out the smartest, most comfortable path forward. There's no pressure. Just an honest conversation with someone who's helped hundreds of locals navigate this exact decision. Thanks for listening. I'm Andrew Wright, and this has been Selling Southport.

See you next time. Thanks for listening to the Selling Southport podcast. I hope today's episode has given you some valuable insights and practical advice on the local real estate market. Whether you're looking to buy, sell, lease, or invest, I'm here to share my extensive experience and guide you every step of the way.

If you have any questions or want to discuss your next property move, I. Don't hesitate to reach out. Your success is my priority. Stay tuned for more expert tips and updates on the Southport property scene.