Often times when people buy a home they are simultaneously trying to sell their previous one. If this describes your situation there are a few things you can do to prepare yourself.
First of all, discuss your emotional expectations. You can expect to be stressed, busy, worried about finances or timing or both, and generally just really stressed! Buying and selling a home are both stressful experiences. Discuss these expectations with your spouse or significant other if they are involved in the home buying/selling process and protect yourself and your relationships from suffering from what I like to call “stress bombs.”
Secondly, discuss your practical expectations. Meet with your agent early and discuss your home’s worth, comparables, and tips for staging your home for showing as well as your wish list and expectations for your new home. The earlier you meet with your agent the more prepared you (and he or she) can be, and preparation can only be a good thing!
You also need to do the math. After discussing everything with your realtor you need to get a good handle on your finances so that you can move forward. Meeting with a mortgage broker or a lender to get preapproved also helps.
Finally, make a plan. Are you going to buy and sell with contingencies in place so that you can move from one place to another? Are you going to sell, move into temporary housing, and then purchase? Are you going to buy first and rent your home out in the short term and put it on the market later? These are all valid options, and you are the only one who can make that decision. Thinking everything through before making your first move can only be beneficial to you, so I encourage you to do so!
Thinking of buying or selling a home in Sussex County? Give us a call at Cooper Realty Associates and put us to work for you – 302-644-2266.