Q: Should You Buy First or Sell First?
Here’s how to decide whether you should buy or sell first.
Should you buy or sell first?
This is a question many move-up buyers have, and the answer depends. First, you need to take a look at what’s happening in the marketplace, then look at your finances. In a hot seller’s market like ours, it could take a while to find a new house.
If you sell first, you may have to move into temporary housing if you can’t find a new house right away and get it under contract. If you buy first, you’ll need equity from your old house to make that purchase. It’s also possible you’ll have to carry two mortgages at the same time. Do you have the income to pull that off?
If you’d like to talk more about this topic, don’t hesitate to call or email me. Also, be sure to check out our eBook, “The Home Buyer’s Big Book of Answers,” at parealestateresources.com. I look forward to hearing from you. Make it a great day!