Selling your home in order to buy – What you can do to get ready
Oftentimes, real estate purchases require buyers to have to sell their current home in order to purchase another home. This can be a challenge and may put extra stress on this already big decision. This requirement is definitely something that holds people back from selling, especially if this is your first time selling a home. The fear of not knowing what to do can be a big hurdle, but the right realtor can help you navigate this situation.
If you are considering a move but need to sell your home in order to be approved to purchase your next home, there are a few simple things you can do that will set you up for success as we kick off 2021.
Simplify this process by following these 5 tips:
Do a pre inspection before listing your home. Make the necessary repairs. This can be used as a marketing tool and to control the outcome, possibly selling your home as-is.
Get a pre approval for the amount you should be shopping for. Don’t begin shopping based on wants instead of your budget. You will likely be disappointed if you do this for too long, and you will add extra time to your search.
Find a realtor that suits you. Don’t just go with the realtor who got your information from Zillow, find someone you can trust with a good reputation and a strong knowledge of the area where you are looking to sell and buy.
Declutter & Depersonalize. Think of it like getting a head start on moving. A home can look like it is lived in but you don’t have to leave your letterman jacket or photos before you were married up. Be sure your home looks like it is ready for the next homeowner to make it their own.
Have furnace & AC serviced and prepare the exterior of the home for sale. This is being proactive again. While you may be stuck inside, now is a good time to get things in place and create your strategy for curb appeal.
Following these steps will put you on the right path to avoid common mistakes and to sell your home quickly so you can progress with your home search. While there will always be challenges and obstacles to overcome during this important time, being prepared and setting realistic expectations will put you on the path to success and get you closer to your next home.
Buying a home in 2021 – Tips for first time home buyers in a new year
Many folks who have been in rental homes or apartments found that they were wanting more room or to start building some equity after 2020. First time home buyers are in an excellent position as we kick off the new year and the same kind of preparation and expectations can be incredibly beneficial to start this process.
Take the leap towards home ownership with these 5 tips:
Check your credit score and take steps to improve it. Start monitoring your credit report and be sure to pay your bills on time and keep your credit card balances low.
Research first-time home buyer grants or assistance programs. See if you qualify for any programs offered in your area. You may be eligible for cost assistance or lower interest rates.
Shop for a lender and get pre-approved. Shop around to various lenders and find the best possible deal for you. Being pre-approved helps set your budget and will greatly improve your search.
Find a local and knowledgeable real estate agent. Real estate agents have done this lots of times before and can help you as you make this big decision. Make sure to find one who is knowledgeable about the area where you are looking and who can help you every step of the way.
Set up a new budget and live on it to anticipate the costs of owning a home. This is a great time to set a new budget and start living with the additional expense of bills, repair and maintenance costs, property taxes, homeowners insure, and more.
Keep an eye on the real estate trends as we transition away from a wildly different year that had people thinking more about home offices, separate educational spaces, and access to outdoor activities more than ever.
If you are thinking about buying or selling a home in 2021, let me know how I can help!