There are certain considerations to think about when you are selling your home and when you decide to buy your next home. Selling and buying are decided by the market. If you are in a buyers’ market, it may take longer to sell your home than if you are in a sellers’ market.
In a buyers’ market, you should sell your house first before you purchase your new home. The opposite is true for a sellers’ market; you can take more chances because your house may sell more quickly. If you buy a home before you sell your old home you may be put in the situation of having two mortgage payments.
Here are some tips to think about during the selling/buying process:
- If you have a conditional sale on your new house you may lose it to a new purchaser if they have no conditional requirements
- Coordinate closing dates; look into bridge financing as sometimes problems arise and you don’t want to be left with stress and worry of trying to coordinate everything on one date
- Know your finances and what you can afford and don’t let anxiety or worry hasten any purchase
- The bottom line is your comfort level – it’s your decision after all!
When you are buying or selling, you should always look to professionals to help you ease the process. Trying to do everything on your own or think of everything you need to do can cause undue stress and pressure.
The Winch Walton Team are not only real estate agents but professional stagers as well. They have a specific free home staging budget that can help offset some of the costs of getting your house ready to sell. Call them to assess what repairs you may have to do and how they can help set the stage to get your house quickly on the real estate market.
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