Should you sell your home first before buying another

 

More than 71% of home sellers look at homes for sale while their current home is listed for sale. In hindsight, 24% of those sellers stated that they wished they would have began the selling process earlier.  

 

Most home sellers ask themselves, “should I buy or sell my home first?”

 

There are a handful of factors that should go into this decision making process:

 

Market Conditions: Is this now a “seller’s market”? In a seller’s market, there are tons of buyers looking for homes but there are few homes available, making this a “seller’s market”. 

 

If you are in this season, you will be included in this mix and competing against one another for the handful of homes available on the market. This is the reason that manh home sellers elect to rent for a period of time after selling their home and until the market changes and in their favor. Some cannot even fathom the idea of “packing again” and add a move to the mix. You’ll have to determine which of the two scenarios you’d best handle. 

 

Financial Situation: Can you face two house payments? If you don’t have cash reserved, you’ll need the equity in your home to purchase the new one, meaning that you’ll have to either sell your current home before buying another or consider alternative solutions such as a Bridge Loan, Home Equity Line Of Credit, borrow against your 401K, simultaneously close. 

 

If you would like to sit down with one of our team members to discuss your options, you can simply call 720-305-0757 and ask for a free, non-obligatory consult. There is no pressure and we will offer honest advice that is truly in your best interest. Give True Realty a call today.