?Buy first, or sell first?? is a question that is often asked of our agents, and not one that is necessarily easy to navigate. If you want the quick answer, in two short words: it depends. There are pros and cons to both, and a few key questions to ask yourself before you decide.
?
1. What is your risk tolerance? ?If you need to know exactly how much money you have netted from the sale of your house before you can proceed with a purchase (like most buyers), then selling first is likely a better move for you.
?
2. Are you willing to rent??If you aren?t able to find a place to buy and move into before you have to be out of your place then you can always rent until you find what you are looking for. ?The risk you take when you buy first is that you then have a little more pressure on you to make sure that you sell your current home (especially if you need the funds from the sale of your existing home to pay for your new home). You can always arrange bridge financing with banks but this can be expensive and, at times, stressful.
?
3. Are you dependent on the proceeds that you generate from the sale of your house??If so, you might consider buying first or if you have a great place to sell in very desirable location and are prepared to price it right then buying first could work for you. ?This way you know where you are going before you give up your existing home.
?
Chestnut Park Real Estate Ltd., Brokerage
?
More Real Estate tips from The Chestnut Park Blog
?
Real Estate Q & A: How important is location?
?
Real Estate Tip: THE checklist for showing your home
?
Real Estate Q & A: How to determine the value of your home
?
Follow Chestnut Park Real Estate Limited, Brokerage
Source: http://www.thechestnutparkblog.com/2012/08/real-estate-q-a-should-you-buy-first-or-sell-first/
Meet the Pyro Karen Klein jerry sandusky Colorado fires supreme court college board summer solstice
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.