Your nightmare or... your DREAM
You've seen your dream house and it's on sale for a knockdown price. You had your own home valued late last year for a surprisingly good figure. So snapping up the new place, then selling your own, looks like a no-brainer.
Property analysts beg to differ. It's total madness.
Some people would say buying before you sell is all right in a hot market, but in today's poor market, you risk a double bad whammy.
You can buy first, then if it takes you a long time to sell your property, that's when you risk having to go for bridging finance to tide you over, plus you watch the value of your property decrease, which will also eat into your equity. It's not a good idea at all.