Deciding whether to buy first or sell first depends heavily on current market conditions and your personal financial flexibility, with no single answer suiting every seller. In a market with strong buyer demand, selling first can give you a clear budget and strong negotiating position when you then go to buy, since you are not relying on an uncertain future sale.
Buying first can work well if you have the financial capacity to manage two properties temporarily, whether through savings, bridging finance, or a willingness to carry both a mortgage and the costs of your existing home for a period. This approach avoids the stress of needing to find temporary accommodation between settlements.
Bridging loans are a common solution for managing this gap in Queensland, allowing you to purchase a new property before your current one has sold, with the loan typically repaid once your existing home settles. Speaking with your broker early about whether this option suits your financial position is worthwhile if you are considering buying first.
Selling first and including a longer settlement period, or negotiating a rent-back arrangement with the buyer, can give you breathing room to find your next property without the pressure of needing somewhere to live immediately. This approach reduces financial risk but requires some flexibility and goodwill from the buyer.
Ultimately, the right sequencing depends on your risk tolerance, your financial buffer, and the specific conditions of the local market at the time. Discussing your full circumstances openly with both your agent and your mortgage broker allows them to recommend an approach tailored to your situation rather than a generic rule of thumb.
Happy to talk it through — no pressure, no sales pitch.