Recently, one of my close friends made the decision to sell their existing home and move into a new one.

While this is an exciting time for them, there have been some interesting questions that they have thrown at me to help them in the decision-making process.

One concern is that they have found a home that they want to buy, but haven’t sold their existing home.

This situation occurs all the time. Often, the emotional buttons are pushed when you see that perfect property.

Time pressures created by an auction or other factors can also create stress.

If this happens to you, there are a few options:

1. Organise a meeting with your bank. Explain the situation and see what temporary financing options may be available to you.

2. Speak with your real estate agent. Have them view your home and see if they have any strong buyers who are ready to buy straight away. You may be able to place your home onto the market and see if you can sell it first. This allows you to know that you have certain timeframes in place.

3. Check with the agent of the home you are looking to purchase and see if the owners would except a variation to the terms, such as a longer settlement timeline, which may allow you more time to sell your existing home.

No matter what solution you choose to go with, make sure that you can afford to follow through with your decision if something should go wrong.

There is a big difference between accepting a little risk and trying to make the impossible happen. Often, with a little bit of perseverance, you will be surprised to see what you can achieve.

Missing out on that perfect home can be frustrating, so ensure that if you are committed to making a move that you speak with your agent early, as often they can assist you with a clear process, alleviating the stress and resulting in a successful move.

If you have any questions you would like answered in upcoming blogs, email amber.werchon@raywhite.com.