Trading Up To A New Home And Navigating Your Move

Get Ready to Transition to Your New Home

If you are planning a move in your general area, chances are that you are selling your current home and purchasing another. Navigating the waters so that everything comes together for a smooth move is possible if you know what to expect ahead of time. The old adage, “If anything can go wrong, it will,” doesn’t have to be your epitaph if you make informed decisions based on a few moving secrets.

Be the captain of your ship - Use these pointers as your compass to help guide you through your moving experience.

Charting Your Course – Work with a qualified real estate buyer’s agent to assist you in plotting out the sequence of buying and selling events that steer you towards your move. Begin fixing up and making any home improvements before putting your house on the market. If you are tight on cash, you may want to take out an equity loan that can be incorporated into the closing.

Anchors Away - For most folks, it is best so sell your current home before signing a contract to buy a new home. You may feel pressured to accept a lower offer just to meet a purchase deadline.  If there is a slow down in the selling market, you may want to consider renting out your current home and putting it back on the market when the tables turn in your favor. Find out about any tax rules that might apply, if you do decide on the renting out option.

Keeping A Lookout - Shop for a lender and get pre-approved financing while your current home is on the market. This way, you’ll have more bargaining power when making an offer on your new home.

Thar She Blows – As we all know, things don’t always go exactly as we plan. Be prepared to weather any storms – making necessary changes as you go.

• You may need to move at a sooner or later date then planned.

• If you can’t find your dream home in the first neighborhood choice, go to the next one on your list.

• You may need to rent out your current home, short term, to cover the expenses of your new home purchase.

• If selling or closing on your new house gets delayed, you may be able to rent back the property on short term until everything is settled.

• If you buy a house before you sell, you may need to take out a loan against the equity in your old home to cover the closing costs and down payment of your new one.

Count On Your Crew - The less people involved in coordinating the settlement or closing of your house, the better. Real estate experts agree that the smoothest moves happen when the same real estate advisor is handling both the sale and purchase - Synchronized with precision, a qualified real estate agent will get you into your new home from the old home with as few snags and delays as possible.

Dropping Anchor - Getting your move mapped out ahead of time - as much as possible - is the key to success when trading up from one house to a new house. Having a skilled real estate buyer’s agent as part of your crew is one way to secure a well charted course – while sailing the waters of today’s real estate market.

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