Why Home Buyers Should SELL, RENT, then BUY!
Late last year I completed some disquieting research for my company, Belvoir in Shrewsbury, that remarkably the UK lags behind countries such as Armenia, Azerbaijan, Belarus, Estonia, Kazakhstan and Mongolia for the ease of purchasing a property – in fact it’s 45th in the world! It’s become ‘normal’ in the UK to experience many difficulties, frustrations, obstacles and problems, not to mention costs – when attempting to purchase a new home. Why is this?
The Dreaded Property CHAIN!
THE STATS– The main problem is the way in which we buy and sell properties here, as often they are lived in, right up until the last moment and therefore form part of a property chain. Far too many house sales fall through for this one reason alone, a staggering 60% if there are one to three properties in the chain and 86% if there are more than three (and 30% of purchases not involved in a chain falls through for a myriad reasons).
Reducing the Chances of a Sale Falling Through
What if we can reduce that chance of a sale falling through? One sure-fire way to reduce the risk of failure is to sell your home first, move into rented accommodation and then search for and buy your new home as quickly or as leisurely as you wish; let’s call that process Sell/Rent/Buyor ‘SRB’.
The advantages are great; by moving into a rental property you eliminate at least one link in the chain and similarly when you buy a property while you’re in a rented property, another link in the chain is removed. In addition to that and importantly, the pressure is off you! You move into rented accommodation a week or so before your sale completes in a relaxed fashion; you unhurriedly choose the property you then wish to buy and when you’ve bought it you can, if need be redecorate it, put in that new kitchen and / or bathroom before you move in, as you have total control of the situation. Crucially, you will be a sought after buyer: no chain and a cash buyer makes you very attractive to sellers and you will be in a strong position to negotiate. Added to this, the price advantage on a chain free sale and a chain free cash purchase may go a long way to paying for rental, as well as making life considerably less stressful.
Insure to Guarantee the Sale/Purchase
On top of that Belvoir can offer you an insurance that guarantees the sale/purchase (called ‘Express Protocol’ from Gazeal) so the complete experience becomes one of ease, delight and excited expectation, as it rightly should be, rather that frustration and dread. SRB is the way forward with buying and/or selling your home. Please contact Paul, at Belvoir in Shrewsbury at anytime to discuss this effortless process further, telephone 01743 242000 – or click here to e-mail Paul
You can also read about the advantages of selling, renting, then buying on the Homeowners Alliance Website: Why You Should Sell-Rent-Buy
Paul Wallace-Tarry - Director, Belvoir Shrewsbury