Sometimes it happens that you need to buy a new principal residence. You may well opt for a larger property, for new criteria or for a new location. In this perspective, you plan to sell your house to inject the funds raised in the acquisition of the new property. In this sense, is it more advantageous to sell before buying, would it be better to buy then sell or should you sell and buy at the same time? In addition, you can also study the loan opportunities for accession to make your project a reality.
Selling before you buy lets you know all the elements. You will know how much the sale will bring you and will be fixed as to the budget for the new acquisition. Thus, you can begin the process of seeking new funding. The disadvantage of this solution is that you can put yourself in an uncomfortable situation if you are unable to buy a new house before the actual sale of your property. In this case, you can try to negotiate your departure date with the buyer, you can rent another house until you find the one that will be yours, which will require two moves, some inconvenience and additional costs.
With this option, you have time to choose your new home and schedule any repairs before moving in. You can also avoid the transition period where you will not have a principal residence. On the other hand, you must use the bridging loan to supplement your conventional loan. The bridging loan is in a way an advance on the future sale. It will constitute a contribution for the financing of the new acquisition. If you opt for this solution, be careful not to overestimate your property in order to avoid investing a larger sum than you need to. Before committing, have your property appraised and offer a reasonable price. This way you will save more time. Indeed, a property offered at a fair price attracts more buyers confirms Le Magazine de l'Immobilier.
In this alternative, it is a question of dealing well with the dates of purchase and sale as well as the transactions and the move. You can try to coordinate everything knowing that between the signing of the compromise and the conclusion of the sale at the notary, you must generally count between 2 and 3 months.
Housing savings:the Housing Savings Account (CEL) and the Housing Savings Plan (PEL) are devices that allow you to increase the amount borrowed to finance a real estate project. These paid accounts are available when you need them. Zero-rate loans (PTZ and PTZ+):these are devices dedicated to first-time buyers. Household income, the number of dependents and the region of residence condition the obtaining of these loans. In addition, there is also the approved loan, the Housing Action Loan, formerly called the 1% housing loan, local aid and the social accession loan.
