We all hear the news about the real estate market – inventory remains at historic lows making buying a new home difficult for buyers. What happens when you currently own your home but want to buy a new one? This can be a challenge as many homeowners are reluctant to put their homes on the market without knowing where they are going to go, but once they find their perfect new home have to figure out how to balance buying the new one while selling their current home.
You do have options if you want to move but are hesitant to sell before you buy your new home. It is important that you have a plan going into the process. Below are some tips to help you with this process.
Going in, it is important that you have all of your ducks in a row. To get started, you should first:
You have found your new home; here is where the rubber meets the road. It is time to figure out how you are going to buy and sell. There are several scenarios to consider:
If you want to buy a new home but are worried about selling and having nowhere to go, you are not stuck! Many options are available when you own your home that allow you to purchase a new home and be secure that you won’t be homeless. Ultimately, it is important to talk to your Realtor and your lender before starting the process to know exactly what the process will entail and ensure that you are prepared.
The Zahn Group is a dynamic real estate group serving the great Charlotte, NC area and upstate South Carolina. We specialize in helping buyers and sellers in the South Charlotte area. Contact us to learn more.