Already Have a Home
Buying a new home and selling an existing home at the same time has its own set of challenges. With knowledgeable planning, you can ensure everything goes smoothly.
Before putting your house on the market or committing to buying a new one, take a look at the prices of houses in the areas where you'll be selling and buying. You'll need a realistic idea of sales prices for similar houses, so you can assess both your buying and selling position. Your CENTURY 21 Action Realtors agent can help you with this information.
What if you're unable to time the sale of one house with the purchase of another? You may not own a home for a time, in which case you'll need money in the bank and a temporary place to live. Or, you may own two houses at once. That's why it's important to have a backup plan. Here are some options to consider:
- Research short-term rental and storage options (family, friends, storage facilities, containers).
- Bridge financing (a short-term loan) for the down payment on a new home backed by the equity in your current house.