Jun 19, 2013
It’s a conundrum that nearly every Wake County home owner is likely to face at some point in time: Deciding whether to buy a new home or sell their current home first.
In the past, I have recommended that it’s best to sell your home first and then look for your next home.
But recent trends suggest that it’s possible to buy and sell a home at the same time.
Today, I’m going to share with you some tips on how to do exactly that.
Buying and Selling Wake County Real Estate
Here are five tips on how you can buy and sell Wake County real estate at the same time.
Accept that a little bit of stress is all a part of the experience. The more honest with yourself about this, the more serenity you’ll have. After all, selling a home is stressful, as is purchasing a new one. It can cause you to fret about finances, memories in the old home and more. Understand that you’re not alone and that this is par for the course of navigating any real estate market. Working with an experienced real estate agent can help calm your nerves as you navigate the market together. Which brings us to….
Establish a relationship with a Wake County REALTOR® from the Get Go. Sometimes home owners begin listing their property and searching for a new one before they have ever brought a real estate agent into the equation. This may make for a more stressful experience in the long run. Instead, it’s best to meet with a real estate agent as soon as possible so they can begin providing you with expert advice and helpful resources right away.
Know Your Wake County Real Estate Market. The best way to navigate the market is to know its activity status. Research what homes are listing for and what they’re ultimately selling for, research what similar homes to yours are selling for, etc. This information will help you form realistic goals for selling your current home as well as develop accurate perceptions of what kind of home you’ll be able to purchase in your price range.
Get a firm grip on your finances. Plan ahead. How much money do you anticipate making off of the sale of your current home? How much are you willing to spend on your new home? What kind of line of credit can you get? How much of a down payment do you want to put on your new home? Knowing information like this will help you successfully navigate the market so you can get an optimal outcome.
Plan and strategize. Your plan will vary depending on current market conditions. For instance, if you’re purchasing a home in a competitive market, it would behoove you to add a contingency on the sale of your current home. If you’re selling a home in a competitive market, we suggest that you try to negotiate with the home buyers for a longer escrow. An experienced Wake County REALTOR® can help you come up with the best plan for you.
Your Wake County Real Estate Expert
I hope you found the above information helpful as a Wake County home owner.
Buying and selling homes at the same time may be stressful, but it is a lot less stressful when you’re working with an experienced Wake County REALTOR® like me, Rachel Kendall.
Contact me today to learn more about how I can help you with all of your real estate needs!
Until next time,