If you’ve been thinking about buying your next home and are just not sure of the steps involved to buy and sell at the same time, or even where to start, then this guide is a must read!
Ready for more space? A new neighborhood? I’m dedicated to helping you find your next home. A home that fits your budget AND changing needs.
I’m Erica, and I’ve been exactly where you are.
I have a step-by-step plan that will get as much money possible for your current home AND help you find your next home that has everything you want and need, all at the same time. I’ve helped many clients through this same process and I’m excited to help you too.
Your forever home is well within your reach. (pinky promise)
It’s bittersweet, but time to move. Whether you want more space, a new neighborhood, or are moving to a new city, what you want in your next phase of life is possible and your home is a huge part of that. When you need to buy and sell at the same time, it comes down to planning to make sure everything happens at the right time, in the right order.
I have a proven process for profitably selling your current home, so you can move right into your next home without upending your life OR budget.
Should I Stay or Should I Go?
The Clash said it best in their hit song, ‘Should I Stay Or Should I Go’ and that might be what you are feeling now that you’ve been in your current home for a while. Your cozy home now is starting to feel cramped. Your hip neighborhood feels too noisy now. Your job and commute have now changed. Your oldest kid starts school next year. Your youngest kid graduated from college.
Whatever the reason, moving can be a hard decision, both financially and personally, so determine the first step is to decide whether you’re truly ready to make a move right now.
The first decision I’ll help you make is whether you should stay or go (and no, I don’t always tell clients to move now, because it’s not always the right call!). I’ll ask you some out-of-the-box questions to get you thinking about what is best for your life right now and help you make a confident choice move now, move later or not move at all and instead I can give you contractor recommendations to turn your current home into a home you love! As my mom always says, “there are always three options to every decision you can make.” We’ll explore all three options together so you can make a clear and definitive choice at what’s best for you right now.
What Do You Want In Your Next Home?
If you’ve decided that it’s time to move, before you start packing, you’ve got to focus on the next most important step what will your new home look like, where will it be and what will your budget be for this next home?
It’s crucially important before selling your current home, that you think about what you need and want this time around in your new home and whether it’s possible for your budget. For this next home purchase, you want to be even MORE methodical and purposeful than when you bought your current home, so you don’t have to move another time anytime soon.
Before you even start looking, going to open houses, or anything else, you must answer TWO very important questions FIRST. We’ll review what those are questions are and your answers and that will help us determine what your next home will look like and also confirm whether now is the right time to move or it makes sense to wait another year or two. Your answers to these two very important questions will determine everything from here!
Let’s Dream BIG About Your Next Home
If you are going to invest the time and money to move, you want to make sure you are doing it for the best possible home you can get. So, just for a moment, let’s DREAM BIG about what you want in your next home. Depending on your budget, you may or may not be able to get everything on your wish-list, but I can help you know what you may need to compromise on and what you can keep as “must-haves.” But, in order to do that, we need to go through the exercise of knowing what you ideally want and why BEFORE you start making any compromises.
Here are some of the first questions to ask yourself (and the same ones I’ll be asking you too):
1. How long do I (we) want to live in this next home?
This is extremely important and has to be done FIRST—before you start looking online or spending your weekends house hopping! Your answer will help you figure out all of your “must haves” and what you’re “willing to compromise on.”
2. What is the #1 driver of my (our) decision to move?
In other words, why are you wanting to move? Not only can your answer to this question help determine what you need in your next home, it can also influence the timing of your move.
For example, if you are moving because you need more bedrooms for a new family member on the way or if you are moving to be in a certain school when your kids start in the fall, then we’ll have a deadline to meet. But, if you are moving just because you want more or less space, then the timing can be more flexible.
3. Picture your new home.
Describe what it looks like, where it is, what you are doing when you are hanging out at home. Describe it in as much detail as possible. What is most important to you as you picture living in your next home?
4. What don’t you like about your current home?
Maybe it’s lack of storage, maybe it’s not enough yard space. These are things that you aren’t moving FOR, but want to make sure you aren’t constantly being annoyed about in your next home.
5. What do you need now that you didn’t before? What about 5 or 10 years from now (or however long you’ve decided you will own this next home)?
Everyone (and every family) is at different stages of their lives with evolving needs and wants. This next move should address any new and upcoming stages. Maybe now you need more space for entertaining, a home office, outdoor space to garden, a playroom, more bedrooms and bathrooms, more storage, better schools, a bigger kitchen. Maybe you are downsizing and you need to make sure there are no stairs. Whatever YOU decide, make sure you’ve thought through everything that could possibly come up during the time period you plan on living in this next home. Also, don’t get caught up in what all your friends or any other family members say. Decide what’s right for you and only your immediate family and make your home-buying choices accordingly.
Answering these FIRST — before you ever spend a Sunday at open houses –will make the rest of this process much more effective and successful.
And, don’t feel like you have to have all the answers to these questions before we meet. My role is to help you work out your answers these questions. I’m just giving you a sneak peak at what’s to come so you can start thinking and dreaming before we discuss them together.
Step Three: (The BIG Question…)
How Do You Buy and Sell at the Same Time?
It’s both a logistical and financial dilemma that I will work with you to solve.
First, you’ve got to deal with keeping your current home clean for buyers; and second, you’ve got to deal with financing this new home purchase. But, how do you afford your new home if you haven’t sold your current home?
All of this has to happen all at the same time and if something isn’t done properly or doesn’t go according to plan, then your move isn’t going to happen, or it will happen and be completely stressful and you might not end up where you want.
In this third step, I explain how to juggle buying and selling at the same time and what needs to happen first, second and so on. After we are done talking about this step, you’ll understand all the tiny baby steps we’ll both take to get your home sold and you moved into your new home all at the same time (and keep your stress levels as low as possible too!)
Successful Strategies For You To Sell First, Then Buy
Depending on your particular financial situation, you may need to sell your current home first before buying your next home. Sometimes you can’t be approved to buy first, and you have only one option. Don’t fret! I’ve got specific strategies I will review with you that will have you jumping for joy and show you how you can get the most out of your current home FIRST so that you can be sure and find that perfect next home, right when your current home goes under contract. It’s a balancing act for sure, but following my lead, I will make sure you do both seamlessly with your current home going under contract and to settlement before you have to close on your new house.
Successful Strategies For You To Buy First, Then Sell
You might qualify to buy your home first before selling your current home. For those of you who can be approved for this, congrats! That means you can spend time looking for a home before putting your home the market. That said, however, there are still things we need to do while you are looking for your next home to make sure you can still sell your current home quickly. I’ll go over what you need to do when and everything you need to know to make sure you don’t end up with two homes at the same time (at least for too long).
There is a lot of planning and many details involved with this step, but with a little upfront work, it’s possible to buy and sell at the same time and not have to hold on to two homes for long or at all!
Yes, there is a lot to figure out, but I’ve done this for clients many times and I can walk you through the process so you understand what needs to happen when and how you are going to pull off buying and selling at the same time, fixing up your current home, moving and staying sane all at the same time. It is possible and I can show you how.
How To Buy and Sell At the Same Time With Ease
I’d be happy to meet with you to learn more about your specific situation what you want in your next home, what your current home is worth and what’s possible given both of those factors.
From there, we’ll go through the steps I’ve outlined in this guide and make sure that moving now or in the near future makes sense. If so, we’ll put together a step-by-step plan and calendar to make sure you get the most out of your current home and make sure you get the new home you really want.
It all starts with an initial meeting between us to get the big picture clearer. I like to hear from my clients who want to buy and sell at the same time several months before they are ready to start looking at homes, so if you are even just thinking about things, reach out to me! I won’t try to convince you to move any faster than you want and that makes sense for your life and goals. I can’t wait to hear from you!
I can’t wait to hear from you!
I am Erica, and I help you buy the house you can afford and make it a home you love. Finding a home you can afford can be one of the most important financial decisions you make. Making it the home you love can be one of the most rewarding things you do.
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