Moving doesn't have to be stressful. In fact, you can make your next move as easy as possible if you start planning early and consider these four tips.
Have an idea of what you want in your new home.
Before you start looking for a new home, it's important to have an idea of what you want and don't want in your new home. The more specific your list is, the easier it will be to find something that matches up with what you're looking for.
What do I like about my current home? What don't I like about my current home? What are some features that would make me happy in any future living situation? These are all questions worth asking yourself before beginning the search process so you can get a better idea of what kind of place might suit your needs best.
Know your buying power.
If you're planning on buying a home there are many factors to consider. One of the most important is how much money you have available for a down payment and closing costs.
Consider meeting with a local mortgage lender to learn your buying power--the amount of money they can lend you based on the property value and other factors such as income. They can also walk through different financing scenarios with you that will help you determine options on how to finance your future home, especially if you require the proceeds from your current home to buy the next one.
Decide if you want to sell or buy first.
Before you start looking for a new home, it's important to decide if you want to sell or buy first. If you have enough buying power and are able to buy first, then great! You can start looking for homes as soon as possible. Do keep in mind that you will want to start thinking about and preparing for the sale of your current home while you are looking for your new home (unless you do not mind carrying two mortgages for a while).
If you need to sell first, it is important to get your home ready to list. You may be able to submit offers for your future home with the contingency to sell yours. However, this is riskier for the seller of your future home the further you are from the closing of your current home. If your home is listed, or better yet, under contract, then your offer will be much more appealing to the seller than if you will not be listing for a few weeks.
Create a game plan ahead of time with your real estate agent.
A good real estate agent will help you create a game plan ahead of time. The first thing they'll do is inform you of the current climate of the local real estate market. How fast are homes selling? What neighborhoods are in higher demand than others? How much work is necessary to put into your current home prior to listing it?
During the planning process, your agent will help you determine the price range of your current home based on what comparable properties in your neighborhood have recently sold for. You will be able to provide them with all of your desires for your future home so that they can set up a search based gives you up to date alerts from the local MLS.
Conclusion
Moving is a big step for anyone, and it's even more important to make sure you're ready before you decide to move. Reach out to me today to discuss if a move this year makes sense for you and start the planning process.
