Purchase a new house or sell your house: which do you do first?
If you want to move house, you need to both buy a new home and sell your own home, but it remains a difficult decision: do you want to buy first or sell first? We have listed the advantages and disadvantages of both options for you so that you can make an informed decision.

Selling your current home first, then buying
Event though the housing market is still overcrowded, it is not uncommon for houses to be on the market longer than a few years ago. It is getting more common for people choosing to sell their home first before buying. By selling your current home first, you will know exactly where you stand before purchasing a new home. Your budget will be completely clear. You can use any surplus value from your current home for the purchase of the new home, and you will also avoid double housing costs.
However, if you sell your home very quickly, the new owners may want to move in soon. In that case, you will need to find temporary accommodation. Keep this in mind, for example, by including a generous search period in the conditions of the sale.
Buying your new home first and then selling
If you are very certain that you will sell your current home quickly and you get the chance to buy your ideal new home, you may choose to buy first before selling. This is especially true if you have a financial buffer that helps you cover any potential double housing costs. Also, when purchasing a newly built home, the purchase often takes place much earlier than the sale.
It is wise to agree with the buyers of your home that the sale will not go through if you do not sell your current home within an agreed period. This will help prevent stress.
Temporarily owning two homes… what now?
If you are in the process of both buying and selling a home, it is possible that you will temporarily own two properties. If you meet certain conditions, you may be able to benefit from mortgage interest deduction for both homes. This can provide a significant tax advantage. The maximum term for this is three years.
Are you planning to temporarily rent out your second home? In that case, check whether you have permission from your mortgage provider. Also, take into account the tenancy rights of your tenants and the tax regulations that apply to your specific situation.
Calculate how much you can borrow
If you are looking for a home to buy, you will naturally want to know how much you can borrow. At De Hypotheker, we have a handy calculation tool for this.