If you want to purchase your next property, you are obviously focused on finding your new dream home. It’s very exciting to scroll down the Funda (property offering) website for a house that might be your next place… But what do you do first: sell your current home or purchase a new home? There are pros and cons to either; we give you the main reasons and benefits.

Buy first or sell first

Sell first

  • This gives you certainty: you know the exact budget you have for your next property.
  • If you have equity, you can use it directly to purchase your new home.
  • This prevents double mortgage charges during the time your old home has not yet been sold. Do allow for the fact that you will have to move twice.

Buy first

  • You find the house that is perfect for you and you don’t want to miss the opportunity.
  • You know enough about the market for your current house to be sure that you’ll be able to sell it quickly.
  • You won’t need to spend money on temporary accommodation, which you would if you had sold your house and not found a new house yet. And so you will only have to pay removal costs once.
Do you opt for buying first? In that case you might need a bridging mortgage (also known as a bridging loan).