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2/509 Hume Highway Casula

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Why Buy Real Estate Now – Part 2: What’s the Cost of Buying?

29 Mar 2012 Stuart Zullo 0 Comment

If you’re a Liverpool homeowner looking to upsize, downsize or just move location, chances are that you’ll be looking to sell before you buy your new home. Real estate tends to work in a relative manner when it comes to selling and buying. If you get the market value for your property today, you’ll probably pay market value for another home.

Some people say they’d like to wait for the market to get better before selling, however the flaw in this is that the property they buy will inevitably cost more too. Not only that, but the selling costs will have increased as will have stamp duty and probably interest rates as well. So you need to consider the net result of your transactions, because if waiting means you miss out on your dream home, or if you buy at a higher relative price than what you sell for, you could actually be making your net result worse.

Our advice to anyone in the Liverpool area looking to sell in order to buy is to talk to both your financial and real estate advisors and know what your relative gains and losses are (we’re happy to talk to you if you want to contact us at Professionals Paradise Realty). Speculation is all well and good, but a minor fluctuation can change everything, so now might be as safe a time as any to think about selling and buying a home.

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