Buy before you sell or vice a versa

Buy before You Sell or Vice a Versa?

1www.citygatehomes.com

2


• Homeowners can have a tough time deciding what is best- to sell their home before they buy a new home or to buy a new home and then sell their existing home.

• The answer will depend on different factors like –

1. Your financing options, 2. The reason for your move, market 3. Conditions and so on.

Have a little closer look to help you decide.


Market Conditions Never assume the market is either a buyer’s market or seller’s market.

Research-Do your research, not just in the local market, but the neighborhood itself, as well.

Work with a professional Realtor® They can provide you with knowledge and expertise in the market and how quickly similar homes are selling and for how much. Also, start to shop homes to see what the market has.

If the market is a buyer’s market, you’ll likely have plenty of choices, and homes with your criteria will likely be easy to find.




For instance, if you are interested in a particular school district, then shop the neighborhoods to see just how available homes for sale in the neighborhoods happen to be.

If homes for sale are abundant, then you may not have a problem selling first. If they are in demand, you might want to consider purchasing.

Financial Options

Most buyers don’t have the funds to pay cash for their homes. If the home buyer hasn’t saved for a down, they require the equity from the sale of their current home for their down payment on their next home.

This leaves homeowners in the situation of selling first and then buying.

.


In the case where finances have you strapped, then one option may be to sell your home with the option to rent the home back for a maximum term, allowing you time to find a home.

Other options include short term rentals or living with family or friends while you find your new home.

One drawback of selling first and then buying is you may not be able to find a home to purchase, or you may rush into a home with later regrets

If you are in a position that you qualify for a new mortgage on your current and your next home, you can use the equity in your existing home with a line of credit, using this for the down on your next home.

You will need to do this before your home goes on the market.


https://twitter.com/citygatehomes

https://www.facebook.com/citygatehomes

Citygate Homes

[email protected]

Meet us-

www.citygatehomes.com 6

http://www.citygatehomes.com/

https://twitter.com/citygatehomes

https://www.facebook.com/citygatehomes

http://www.youtube.com/watch?v=KZXx5YlWy8M

mailto:[email protected]

http://www.citygatehomes.com/

Real Estate

Buy before you sell or vice a versa