Should You Risk It All and Buy Your Dream Home First or Play it Safe and Sell Your Current Home First?”
The ultimate real estate dilemma, buy first or sell first, is a decision that often perplexes homebuyers and sellers alike. Let’s explore both options to better understand the benefits and challenges.
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Purchasing before selling offers flexibility. You can take your time to find the perfect home without feeling rushed. You can move seamlessly into your new space without the need for temporary accommodations. However, it may involve carrying two mortgages which can be a financial burden. Assess your ability to handle mortgage payments, property taxes, insurance, and maintenance expenses for both homes.
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List includes, bank owned company owned, distress sales and home not yet readily available online. This free list includes; pictures, address and price.
Selling before buying provides greater financial stability. You’ll have a clear picture of the proceeds from the sale of your home to plan your budget for your new home. There will be no worries about juggling two mortgages, but the option may involve finding temporary accommodations and storage. And there’s a risk of a time gap between selling and finding a new home in a competitive market.
Striking the right balance between securing a new property and ensuring a smooth sale of the current one can be a challenging task. Buying first offers the advantage of locking in a desired property, preventing the risk of missing out in a competitive market. However, this route can lead to financial strain if the old property doesn’t sell promptly. On the other hand, selling first guarantees a clear financial picture but might leave one scrambling to find a new home amidst limited options. Navigating this conundrum requires careful consideration of the market conditions, personal financial stability, and a willingness to explore creative solutions to achieve a successful outcome in either direction.
WHAT’S YOUR HOME WORTH?
Find out what your home may sell for in today’s market.
We can help you assess the current market conditions and advise on the best strategy for your unique situation to help you avoid this real estate dilemma. We’ll help you navigate the complexities of buying and selling, ensuring a smooth transition.
To discuss your individual situation, let’s set up an investigative 5-minute conversation. Call the number below or text us. There’s no cost or obligation.