Upgrading your home is a significant, often life changing decision so it’s natural for sellers to wonder when’s the best time to make such a monumental move.
If you are upgrading homes — selling and buying — waiting means the price of home you are trying to sell also drops.
Buying and selling simultaneously means that you’ll still be ahead of the game because the price reduction on the new house is likely to be greater than the loss on the old home, if the new home is worth more — that’s just a simple math in terms of percentages.
Example of 10 per cent down market
$300,000 current home: Down 10 per cent of $30,000 would make it now $270,000
$500,000 future home: Down 10 per cent of $50,000 would make it now $450,000
$50,000 - $30,000 Gain = $20,000