Buy House First or Sell House First?
Sell House? Buy House? What First?
This is a common question that is presented to me more than I can count. It is important to gather research before making any conclusion. It’s sort of like getting together all of the pieces to a puzzle first; then putting the pieces together to make the master plan.
Some of the pieces to the puzzle you should investigate are:
- What is the current housing market?
- What does the future look like for the housing market?
- What is the hyper-local activity and competition around you?
- What funds do you have available to use? (And what would happen if you got stuck with two mortgages?
- If you plan on carrying two mortgage on your houses, are you prequalified to do so?
- Do you have temporary housing (or options available) if you sell first?
It can be done, but it’s sometimes tricky to have your settlements (sell and buy) on the same day. You have to coordinate moving company, be confident there won’t be any hiccups, and have impeccable timing procuring a Buyer & a new house you’d love to buy.
I can hear you now, “Aren’t there sale of home contingencies?” Yes, there are, and those could work to help with the timing issue.
There are many pieces to fit together. It can be overwhelming and sometimes painful. I won’t tell it how I think you want to hear it, I’ll give you my opinion, even if it might be painful for you – like wait and don’t buy or sell your house right now.
It is important to sit down with the experts that can help to guide you in making the decision to sell or buy first. If you are contemplating this Real Estate question around Chester County, I’d be happy to talk with you and help gather your pieces to help you make the best decision. Whether you listen is totally up to you!
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
