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The Local Ormeau Property Chat with Brett Reddell
Your home is your biggest asset—make sure you’ve got the right advice.
Join Brett Reddell, Ormeau’s trusted real estate expert, as he shares short, sharp episodes packed with insights to help you make smarter property decisions. Whether you’re thinking of selling, planning ahead, or just want to stay informed—Brett breaks down what’s really happening in the local market and why it matters to you.
Real tips. Local knowledge. Straight from the guy who knows Ormeau best.
Hi, and welcome to the local Ormeau Property Chat podcast. I'm Brett Reddell your trusted local real estate expert for Ormeau and Ormeau Hills. Whether you are buying, selling, or just curious about the market. This podcast is here to give you the insights and advice you need, plus a little community connection along the way with a passion for selling family homes to families.
I'm here to share practical tips and expert knowledge to help you make confident real estate decisions. Let's get started.
Good day and welcome back to the Ormeau Property Chat podcast. I'm Brett Reddell your local area specialist, and today we're talking about one of the biggest decisions homeowners face when it's time to move on. Do you sell your current home first or do you buy your next one and worry about the sale later?
It's a question I get asked all the time, and to be honest, there's no one size fits all answer. By the end of this episode, you'll have a much clearer idea of which approach suits your situation and how to navigate that transition smoothly. Let's jump in. When people think about moving, they often imagine finding their dream home first, falling in love with it, and then putting their current place on the market.
Others feel more secure doing the reverse selling first, so they know exactly what they're working with before committing to the next step. Now, this choice isn't just about what feels right. It affects your finances, your timeline, your stress levels, and ultimately how smoothly your move plays out. Let's start with the option of selling first.
There are some solid advantages to this route. First, you're know exactly how much you've got to work with, no guessing, no stretching. Once your home's sold, you've got a clear budget for the next move. Second, you won't be stuck carrying two mortgages. That's a big one, especially with interest rates and the cost of living where they are.
Avoiding financial overlap is a major stress reducer. Third, you can negotiate a longer settlement when you sell, which gives you time to go house hunting with confidence and potentially line up both transactions seamlessly. Now, what are the downsides? Well, you might need a temporary accommodation. If your ideal next home doesn't pop up straight away.
You could be renting short term, staying with family, or even juggling storage, and that can make people feel a bit unsettled, especially families. Another thing you may feel pressure to buy quickly once you've sold, just to avoid that in between stage. Here's a story that might help. I recently worked with a couple from Ormeau Hills who were upsizing for their growing family.
They decided to sell first. We timed the campaign perfectly secured a great result in two weeks, and then negotiated on an extended 90 day settlement that gave them breathing room. They viewed homes without panic and ended up buying a beautiful property just across from Livingston College. They told me afterwards it was the best decision they made because they felt in control the whole way through.
Now, let's look at the flip side, buying first. This option is tempting. When you see the perfect home, come on the market and you don't want to miss out. The main benefit here is obvious. You secure your dream home before someone else does. You're not settling for what's left. You're jumping on that one that ticks all the boxes.
Another plus. Avoid rushing into a purchase just because your current home sold quickly and now you're in a bind. But this option comes with a few important risks. Number one, you may need bridging finance. This is a short term loan that covers the gap between buying and selling. It can work, but it's not free.
There's interest, there's pressure, and it needs to be managed carefully. Number two, you're on the clock. Once you've committed to the purchase, you need to sell fast. That can lead to panic pricing or accepting an offer that isn't quite what you hope for. Let me share an example. I work with a family who bought first in the Ormeau Ridge Estate.
The home was perfect, but they were nervous about holding two mortgages. We set up a smart selling strategy, launched with a sharp campaign, priced it right, and leveraged our buyer database to create demand early. We had it under contract in 10 days. No bridging finance needed. They moved in stress free.
So yes, it's doable, but you need guidance and a clear plan. Now let's talk about some other factors that can influence your decision. First, the market itself. If we're in a seller's market, like we've seen recently in pockets of Ormeau and Ormeau hills homes are selling fast, and you might be more comfortable buying first.
If things are cooling off longer days on market, fewer buyers. Selling first gives you more security. Second, your financial position. Do you have the equity, the savings? Can you afford to hold two homes temporarily? If not selling first reduces the risk. Third, your stress tolerance. Some people are comfortable juggling timelines.
Others prefer a clear step-by-step process. Neither is right or wrong. It's just about knowing your limits and lastly, your stage of life. If you're upsizing, you might be more focused on getting into the right school zone or securing the extra bedrooms if you're downsizing. I. You might want to sell first to take your time choosing that perfect low maintenance property.
Ah, yes. Before I wrap up, a quick word on conditional offers. You've probably heard of subject to sale contracts where buyers make an offer on a home, but it's dependent on them selling theirs first. These can work, but they're tricky. Sellers don't love them. It puts uncertainty into the deal. So if you're considering buying first with a subject to sale offer, make sure you've got your current home priced and ready to launch quickly.
So if you're thinking of moving and you're stuck, wondering whether to sell first or buy first, let's chat. We'll look at your current home, your finances and your goals, and I'll walk you through your options step by step. No pressure, just honest, local advice to help you move with confidence. Thanks again for joining me on the Ormeau Property Chat.
If you found this helpful, subscribe for more episodes and feel free to share it with anyone else thinking about making a move. I'm Brett Reddell and I'll see you next time. Thanks for listening to the local Ormeau Property Chat podcast. I hope you found today's episode helpful and feel more empowered on your real estate journey.
My goal is to provide you with valuable advice while staying connected to our amazing community here. In Omo and all my hills. Remember, selling family homes to families is what I do best, and I'm here to support you every step of the way. Stay tuned for more tips, insights, and local area knowledge. In the next episode, I'll see you then.