Selling your home and finding a new one at the same time can seem overwhelming, especially in a tight real estate market. But don’t worry, you’re not alone. As a homeowner, you have a unique advantage to make a smooth transition from your old home to a new one.
In this article, I’ll share some tips and common concerns we’ve heard from clients who are going through this process. Whether you’re looking to rent back your old home, find short-term housing, sell first, or simplify the process, I’ve got you covered.
So, let’s dive in and tackle some of these questions head-on.
“What should I do if I sell my house before I can buy a new one?”
It’s normal to worry about selling your home before finding a new one. But there are several options that can help you bridge the gap. For example, you could negotiate a rent-back agreement with your buyer. This allows you to continue living in your home for a set period of time and fee. Another option is to look into short-term housing options, like furnished apartments or vacation rentals.
You could also consider selling your home first and focusing on buying your next one later. With cash in hand from the sale of your old home, you’ll be in a better position to make a competitive offer on your new home.
“What if I get stuck with two mortgages at the same time?”
Carrying two mortgages at the same time is a common concern, but it’s manageable if you have some flexibility in your budget. To make sure you’re not stuck with two mortgages for too long, calculate the maximum number of months you can afford to pay both. If you can’t afford it, selling first may be the best option.
If you have some wiggle room in your budget, you can simplify the process by focusing on the necessary tasks to sell your home quickly. Clean and declutter, refresh your curb appeal, and fix any maintenance issues. I can help you prioritize which repairs and upgrades are worth your time and investment.
Moving can be a big challenge, but by being prepared and knowing your options, you can make it through the process with ease. Feel free to reach out with any questions you might have. I’m here to help.
