Should You Buy First? Dear Ali,
When you're considering whether to sell your current house before buying a new home, it's easy to assume that the answer is always, "Of course!" After all, no one wants to be saddled with two mortgages.
Occasionally though, buying a new home before selling the old can make sense for you. Here's when: 1. You're buying in a seller's market. A seller's market occurs when there are more buyers looking for homes than homes for sale. Because of this, securing a new place to live may be a good idea before selling your old home.
2. You're planning on renovating. If you're planning on renovating either your old home or your new one, having somewhere to live during construction is a good idea!
3. You found your dream home. Sometimes, once-in-a-lifetime chances really do come along, and you might want to jump on purchasing your dream house. If you're not sure whether to sell your old home first, or move forward with your new home purchase, feel free to reach out! I'm always happy to discuss your financial options.
Sincerely, Anna Smith |