Many people find themselves wanting more space at home or needing to change their address for whatever reason. In this situation, homeowners are trying to sell their current home while they look to buy a move-up home. Timing is everything, and it’s important to know what your options are before making any final decisions.
The first, and most important thing to do, is to get your current home in tip-top shape for the market. It is difficult to get qualified for two mortgages – even more so in a slow market. Remember that a time frame can influence the factor of the actual selling price of your home. That is why it’s important to have an experienced professional helping you with the transition and the timeline organization. We want to make sure that when you find your dream home that you are positioned as well as possible so you can move forward with ease.
The second step is to get a current value on your home. This will help you understand how certain factors will affect your current home market pricing. It is also a good idea to have the condition of the home checked by a professional and make any needed improvements or renovations.
The transition of selling one home and buying another can be overwhelming, and it is important to contact a lender immediately when you are ready to move forward. If you don’t have a lender, contact your REALTOR® for suggestions and recommendations.