Why you should sell your house before buying new one

You already have a property but are now looking for a new place to move in, since you already have your requirements in mind, all you need to do is just finalise one. However, to buy first or sell is one question that most of us confront during this phase. Here's why selling your existing property before you buy the new one is favourable for some people. .

Sell first
1. For quite a lot of people, selling the existing property before buying the new one is the only resort. This helps them make their down payment easier and also clears the air about how much loan they need to take.

2. Similarly, it also relieves you of the baggage of getting your house sold after you have selected a property. In many cases, people end up losing the deal as their existing property takes longer to sell, while the deal on the new one stays valid for just for about sixty days.

3. However, selling involves another risk which is an extra expenditure on rent. You would have to stay on rent till you do not get your desired property. But, if the person who has bought your property is kind enough, he might let you stay (on rent) till you figure out a property for yourself.

4. In some cases, you can also stay with your parents for a while, till you finalise on your new home.

http://timesofindia.indiatimes.com/followceleb.cms?alias=sell,property,new home,Loan,Existing

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