Selling a house and buying another are two of the most stressful things a person can do. The process has constant complications that can seemingly arise from nowhere.
You have to negotiate prices, stage a home, commit to many small and large home renovations, clean your home, and then on top of all of that, you have to be out house hunting yourself. That’s only the long and short of it. So, what are the ways that you can make this process easier or at least feel you’re on top of things?
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Set Up Some Help
Buying and selling a home at the same time takes more finesse than the average home sale. Therefore, it is wise to invest in a real estate agent.
This can take pressure off your shoulders when dealing with pricing, posting, haggling, etc. They will be the ones to feel out the market and decide where your home falls on the scale of pricing. They will also be able to take advantage of websites like Zillow to post your home. This allows you to focus on the more fun parts of moving like home tours and open houses.
Sell and Buy A House: Complications
With all the time you have now that you have a real estate agent, you can consider all of the possible outcomes that come with buying and selling simultaneously.
Ideally, you close on your current home before signing onto another mortgage. And you do this quickly so that you have a home to move into. However, you should be prepared to pay two mortgages at once if the worst comes to worst.
If you do not have sufficient funds, consider taking an alternate route on your selling and buying journey. Putting yourself between a rock and a hard place financially puts you at risk for more difficult complications down the road.
Put Together A Back-Up Plan
You should also be prepared to be without a home for a brief time. This can mean you set up a plan with family to have a place to stay if some live close by. Although this may not be an option for everyone, it can save some cash. Ensure that with this idea you have a storage unit or place to house your belongings.
You can also sub-lease or rent a place to stay while you wait to move into your new home or while you house shop. This is likely ideal for a longer period of stay. The plus is that you will have a place to put your things while you wait out the pre-move period.
You can also attempt to set up a rent-back agreement with new buyers. This lets you stay in your previous home. You would pay the new owners for the extra time that you’re not moved out.
Lastly, you can always pay to live in a hotel briefly before you move in. This can be ideal if subleasing is not an option, but you would likely still need a storage unit or a place to keep your things.
Consider Your Timeline
Now that you have backup plans in place and preliminary plans laid out, it’s time to decide the timeline in which you will sell and buy.
Is there a specific order that you want to complete things? Do you want to wait to start the process due to the market? Do you need time to update the home and stage things? All of these hypotheticals can factor in when you start the process of selling a house and buying another.
The Actual Move
So, it is easy to get caught up in all of the things that you’ll be doing between the beginning of your selling process to the closing of the buying process. The whirlwind can definitely throw you for a loop. Now you have to consider how you’re going to move!
Will the process involve friends and family or a company like UniMovers? It may be best to know the details of your moving process before that day comes. Setting up a moving plan will make moving go smoother. It can also iron out any creases that may arise as the move commences.
Sell A House And Buy Another
This guide should have made this tricky process seem much easier. Now you know where to start and hopefully where to end. Although we can’t do the process for you, hopefully, UniMovers can assist with taking away some of that.
Maura De Cicco attends the University of Iowa as a Journalism and Anthropology student. She plans to pursue a strategic communications track when it comes to writing, and an archaeology track when it comes to Anthropology.
