Deciding whether to sell your house before purchasing a new one or to buy first can be a tough decision, and one that is commonly dealt with by many effective conveyancer in Campbelltown. While there may be no right answer, both options come with advantages and disadvantages. It is important to do your research to determine which solution suits your situation best.

Read on for a guide to the pros and cons of each option and to find out more about how to best go about making a choice. A conveyancer in Campbelltown may be able to offer you more advice.


Sell first, buy later

This is the most common option as it allows home owners to release their equity and set their budget for purchasing their next house. It is best to try to time the selling of your old house and the purchase of your new house closely together to avoid expenses associated with moving and renting temporary accommodation.



  • Allows you to set a budget for your future home
  • Releases equity
  • Removes the need for bridging finance
  • No urgency to sell means you can maintain a high price for your house
  • Potential to arrange extended settlement to give yourself time to find a new house without rushing



  • Possible pressure to buy a new house quickly if you sell before buying; may result in an inferior purchase
  • Potential for property prices to increase in the period between selling and buying
  • May need to spend money on temporary accommodation and moving multiple times


Buy first, sell later

Buying a new home first has the potential to be financially challenging, but it may be necessary if your dream home suddenly appears on the market. Consider consulting a conveyancer in Campbelltown for help when doing this.



  • No rush to find the perfect new house
  • Reduced expenditure due to not needing to purchase temporary accommodation and pay for multiple moves



  • Difficult to know exactly how much your current home will sell for, making it challenging to set a budget for your new house
  • May need to accept a lower price than desired for your current home in order to sell it in time to settle your new house
  • If your current house is slow to sell, bridging finance may be required to cover both properties’ mortgages until it sells


What is bridging finance?

Bridging finance is a loan that gives you the funds needed to buy your new house in the event that you haven’t managed to sell your current home. Most lenders offer it, and it can be acquired using the equity in your current house, the new house or both. A conveyancer in Campbelltown can give you more information on acquiring bridging finance and help assess whether it’s right for you.

If you secure a single loan using the equity in both properties, you typically have 6 – 12 months to sell your old house. Your lender may penalise for not selling within this period, so check with them to determine what these penalties may be.

Usually you will only pay the interest owing during the bridging period. Once your old property has sold, payments will focus on the principal and interest owed on the leftover debt. Using bridging finance can add a lot to your debt load. As such it is important to see a financial advisor or conveyancer in Campbelltown before agreeing to the loan.



A conveyancer in Campbelltown can help make the selling and buying process easier and explain your responsibilities and the steps involved.