Buying a New Home When You Have One to Sell!
How do you buy a new home when you have a home you need to sell first? There’s a lot to take into account, but there are a few tips we have to offer to help make the process simpler. When you’re ready to make the big move, consider the following:
- Hire a real estate agent. Many people attempt to sell their homes on their own in an effort to save money in the end. Real estate agents, however, are far more familiar with the market than the average person. They understand what homes in the area are selling for, and what features people are looking for in a home. They are also more fluent in making sure all the necessary paperwork is completed in time for a smooth closing. Without a good agent, you could possibly lose a home you are looking to buy because the contract expires due to unresolved issues or unsigned paperwork!
- Price your home to sell! Discuss the market with your agent. Don’t undercut yourself, but don’t be unreasonable either. Put yourself in the buyer’s shoes and ask yourself if you would be willing to pay the asking price for your home. Sometimes getting a little less than what you’re wanting is worth it to get into the home of your dreams in the end!
- Be ready to show. First impression is everything! While your home is on the market, try to keep it in “showroom” condition. Of course this isn’t always easy with work, family, and children, but going the extra mile to make sure every looker gets a good “first take” may pay off in the end.
- Start looking. Buying a new home while you still have one to sell is a scary situation to be in. On one hand, if you sell your home before you have found one to buy, you may find yourself scrambling to find a place to live or settling for something your not completely satisfied with. On the other, if you put a contract on a home you really want and must buy it or lose it before you have the opportunity to sell your current home, you may find yourself paying two mortgages. Talk with your agent about how long homes in the area have been on the market. After getting an idea of what to expect as far as selling is concerned, find a home that is under construction and will take approximately that amount of time to complete. Speak with the builder about a presale, or you could also put a contingency on a home that is already completed.
For more information on buying and selling your home, visit our website at www.gustafsonproperties.com and contact us! We look forward to hearing from you!
