Is it better to start by finding your next home or should you sell your current house before you go house hunting?
In many cases today, getting your current home on the market first can put you in a better spot. Selling your current home before you try to buy your next one allows you to access the equity you’ve built up. And once you sell, you can use that equity to pay for the down payment on your next house. You could even have enough to buy your next house in cash, which may make your next move a whole lot easier on your wallet.
Trying to buy before you sell means you could wind up holding two mortgages, even if just for a few months. That can get expensive, fast – especially if there are unexpected repairs or delays. Selling first removes that stress and helps you move forward without the financial strain.
Sellers love a clean, simple offer. If you’ve already sold your house, you don’t need to make your offer contingent on that sale. You can position your offer to be as strong as possible, so you have the best chance of getting the home you want.
As you weigh your options, consider this potential drawback… Once your house sells, you may need a short-term rental or to stay with family until you can move into your next home. You may be able to negotiate things like a post-closing occupancy or flexible closing dates to help smooth out that transition as much as possible.
In many cases, selling first doesn’t just give you clarity, it gives you options. It helps you buy with more confidence, more financial power, and less pressure. If you’re ready to make a move but not sure where to begin, call me. I’ll help you put together a plan that works for you!
Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License NumbersB.0026537LLCPM.0164922.BKR