So, you have a house to sell in New Braunfels and you want to buy a house at the same time? You might be feeling little tensed or nervous with these two big responsibilities on your shoulder. But believe us, you are a lucky person that you got the opportunity to be a home buyer once again. As a repeat buyer, you have the experience you earned as a first-time buyer and we are here to tell you how to do it while selling your old sweet home.
Know your local real-estate market well – As you are selling your home to buy a better home or relocate to a new area, there’s no urgency to list your home for selling or do the down payment for a new home. So, study the local real-estate market and get the idea whether it is currently weighted towards the seller or the buyer? The market can never be predicted accurately but experienced people of the field can tell about the pattern a certain market follows. Get in touch with a real estate broker to understand the pattern of the market to understand the best time to sell and buy a property.
Choose Judiciously whether you’ll sell first or buy first – Buying and selling at the same time does not mean you’ll sign your buying and selling contract at the same time. There are lots of things to consider while deciding what to do first. And no one, but you have to take the decision as there are certain pros and cons of both the ways. If you buy a home first it will be easier to shift but this will come with the double expense of monthly house payments and maintenance. This process is also going to skew your debt-income ratio. On the other hand, if you choose to sell your old home first then you’ll have to search a temporary place to shift until you get your new home. This will, however, make it easier for you to qualify for a mortgage. Calculate all the aspects and choose the best option for you but be prepared for your master plan to fail as there are two more parties who can anytime make your plan fail.
Hire a professional help if you find yourself unable to cope with the situation – There’s no shame in asking for a help if you can’t do it all alone and especially in the situation where you are paying for the help. If you are finding yourself struggling with getting a buyer for your house then contact companies who are always ready to help you with a welcome board reading ‘We Buy Houses in New Braunfels’. Buying a house should not pose much difficulty as you already have a prior experience. But, if that too is a problem for you then contact a real-estate agent who can solve your problem for a professional fee or commission.
Buying and selling simultaneously is a tough task but can always be managed with proper planning.