If you’re planning on selling your home and moving into a new one in the Raleigh area, you might feel a little overwhelmed. The thought of buying a new home can be exciting, but no one wants to think of paying two mortgages at the same time. In order to limit the amount of stress in a situation like this, there are a few things you should keep in mind.
What Type of Puzzle Are You?
To use a metaphor, home selling and home buying is sort of like solving a puzzle. Some puzzles are simple, with only a few pieces. Others have many pieces that take more time to solve. Knowing your current situation (or knowing what type of puzzle you are) can determine the risks and flexibility involved in the transaction. Here are some examples that range from simple to complex.
The Simplest Home Buying and Home Selling Puzzle
If you are selling your home and do not need the money from the sale to buy a new home, you are in a highly preferred situation. Although this doesn’t happen often, this provides you with the greatest flexibility and options. The only thing you need to do is qualify for a new loan from a trusted lender.
It’s still a good idea to think through your financial future if you are in this situation – even if you have the money upfront, would you be able to afford additional payments or surprise expenses?
The 100-Piece Puzzle –A Common Home Buying and Home Selling Situation
If you need to sell your current home in order to make a down payment on your new home, you are in the same boat as many Raleigh home sellers. Our agents have had the most experience in this situation and can help you through it, one piece at a time. You may not be able to move in to your new home right away, but we can help you meet your home buying-home selling goal in time.
The 1,000-Piece Puzzle – A Challenging Home Buying and Home Selling Situation
These situations typically call for more patience and planning. Here’s an example of a more difficult home buying and home selling venture:
I am moving out of the state in one month. The home I live in now needs to be sold fast and for a high profit. My company will not provide me with the funds to support two mortgages, and my savings will not allow me to keep both homes afloat either.
The 5,000-Piece Puzzle – A Very Challenging Home Buying and Home Selling Venture
These situations often involve many factors with strict deadlines that require an experienced professional. Here’s an example:
I am going to get married soon and would like to buy a house with my fiance. We own our own houses, and we need to sell both before we can buy a new one. We need to sell quickly (before the wedding) and for a high profit so we can put a down payment on our new home.
Finding a Home Buying and Home Selling Professional
If you can identify with one of the situations above, please give us a call. We would be happy to work through your home buying and selling puzzle. Contact us today!