Are you planning on buying and selling a home at the same time? Doing so can be both exciting and daunting, but it doesn’t have to be overwhelming. With some careful planning, you can make sure that your current home sale goes smoothly while also helping you find the perfect new one. Here are some tips to help you make sure both your sale and purchase go according to plan:
Get Your Financing Sorted Out First
Before you start looking for a new home, it’s important to sort out your finances first. Get pre-approved for a mortgage so you know exactly how much you can spend. This will help you search for homes in the right price range and narrow down your choices, saving time and energy.
Know Your Timeline
When buying and selling at the same time, it’s important to have realistic expectations about timelines. Your current home may take longer than expected to sell, so make sure you have a backup plan in case your timeline is delayed. Take a look at how quickly homes are selling in your region to get an idea of how long you might have to wait. Also, look into bridge financing if needed — this will help cover the gap between selling and buying so you don’t lose out on either purchase.
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Work With a Real Estate Agent
Working with a real estate agent can make your life much easier when it comes to buying and selling at the same time. A real estate agent can provide expert advice and assistance in the process, helping you find your ideal home while also ensuring that you get a good price for your current one. We can help you find an agent that will work with you every step of the way.
Plan Ahead
When buying and selling at the same time, planning ahead is key. Make sure to stay organized throughout the process so that everything runs smoothly. Research different neighbourhoods, make a list of the features you want in your new home, and make sure you have your finances sorted out before starting to house hunt.
Be Open to Compromise
Some degree of compromise may be necessary. You might find that there are a few things about your new home that aren’t perfect, or that you have to let your current home go for less than you had hoped. Be open to compromise and keep in mind the bigger picture — if it means being able to move into a new home, it might be worth it.
With some careful planning and preparation, buying and selling a home at the same time can be an exciting and rewarding experience. Take the time to research your options and get in touch with one of our real estate agents to help you find your next home.
