Is it risky buying a new home before selling a home you currently own?

Is it risky buying a new home before selling a home you currently own? There is no simple answer… Knowing and understanding your options can help you make the decision that’s right for you. There can be several advantages to buying a new home before selling your current one, so we’ve broken down a few things you should consider.

Timing Your Move
You can take your time with the buying and moving process. You’ll have more time to shop for a new home that has the features and location that you want. Then once you buy your new home you can move in at your own pace, and put your current home on the market when ready. buying a home, selling a home

On the other hand, if you sell your current home before buying, you face the possibility of not having a place to live. There are options. You could rent until you buy a new home, including the possibility of renting your current home from the new owners. Or, once you have an offer, you can begin shopping for your new home and try to coordinate closing dates. While not impossible, this would take a bit of finagling and a lot of luck.

Financing Your Move
If you still owe money on your current home, then you’ll have to be able to afford two mortgages until your current home sells. How quickly that happens depends on the housing market in your area. Having two house payments will limit your purchasing power for a new home.

Selling before you buy gives you the advantage of knowing the exact amount you can put toward your new home purchase. While this might give you more peace of mind and buying power, it might mean missing out on homes you want while waiting for yours to sell.

Ask a Professional
Your real estate agent can estimate the value of your current home and how quickly the current market is moving. They can also help you find information about neighborhoods you are interested in moving to and how much buying power you’ll need for the home you want.

A mortgage lender can help you figure out if you can afford to have two mortgages. They can also inform you about how to use equity in your current home to help with the down payment on a new home.

Whether you decide to buy first or sell first, you can make the process easier by being prepared and able to take action when the right opportunity comes along.

Have more questions about buying a new home before selling your current one? Feel free to contact me for more information.

Curb Appeal

Curb AppealDollar for dollar, no improvement has more impact on the future sales price of your home than dollars spent enhancing its exterior, also known as Curb Appeal. You’ve seen it on all the TV “fixer upper” shows, curb appeal is what brings attention to your home and many times can help raise its value!

Luckily for you, it’s also one of the easiest places to make a swift impact. A coat of paint, some landscaping improvements, shutters and planter boxes, neighborhood-appropriate fencing, and a decent lawn guy are all affordable fixes that will do wonders for the foot traffic you get when your home is on the market. And we all know once a prospective buyer is in the door, anything can and usually does happen. That doesn’t mean interior improvements and amenities don’t matter, because they do, but creating a wow factor before a prospective buyer steps out of his or her car is the biggest bang for your buck you can buy.

Bobs Homes ~ 6 Tips to prepare your home for sale!

Bobs Homes ~ 6 Tips to prepare your home for sale!

    6 Tips to prepare your home for sale… Yes…It’s that time of year again, the 2018 selling season is upon us. If you getting ready to put your home on the market, the task list to prep for the market can seem endless. To make it easy, here’s a home maintenance list for you of the 6 things sellers should do before we put that for sale sign in the ground and follow these 6 Tips to prepare your home for sale!

    ON THE OUTSIDE ~ Spruce up the exterior Let’s face it, the exterior of the property is the first thing a buyer will see whether online or driving by. Now is the time to make sure it looks its best. Walk around the entire exterior of the home, and conduct an assessment. Consider pressure washing, painting, having the windows cleaned, cleaning out gutters, trimming back any overgrown or dead landscaping, cleaning the front door and changing out any worn door hardware that may look old and corroded. And make sure the front doorbell actually works!

    ON THE INSIDE ~ Remember: Bedrooms should have a neatly made bend and one or two nightstands, a lamp, and a chair if there is room. Place extra dressers in storage because you want to see a lot of floor space in each room.

Follow these tips to make a lasting first impression!

Professionally Check the Home Mechanical systems. Make sure Heat and A/C systems are serviced cleaned and in great working order. Home inspectors will check your home out thoroughly so let’s be prepared.

So, Here are 6 Tips to prepare your home for sale from Bobs Homes !

  1. PAINT THE WALLS A fresh coat of paint is a cost-effective way to make a place feel new again. But stick with neutral tones like grays and whites.
  2. CLEAN UP THE BATHROOM Replacing missing tiles and re-caulking moldy areas are must-dos. Small upgrades, like swapping out an old faucet, can brighten up the space.
  3.  UPGRADE THE KITCHEN  It is possible to transform a dated space without a complete overhaul. A fresh coat of paint and new hardware will help refresh old cabinets. Peel-and-stick wall tiles, which can be found at home improvement stores for as little as $8 a square foot, make adding a back splash easy on the budget.
  4. CLEAR THE CLUTTER!. “A good rule of thumb is to get rid of 35-40 percent of your stuff.” This includes books, furniture and the clothes hanging in your closets, and it has the added effect of making small spaces seem bigger. Coffee tables, kitchen counters, windowsills and other surfaces should be cleared of family photos, plants and be sure to put away any personal effects — razors, hair dryers, shampoo bottles, toothbrushes — before showings.
  5. DO A DEEP CLEANING Wash the windows inside and out and vacuum all floors and dust collecting areas. Kitchen Clean up inside the cabinets, oven and refrigerator too!
  6. LIGHT IT UP  Every room should have at least three points of light. That means a table lamp, a floor lamp and a task light,  or an overhead fixture and a couple of table lamps

These are 6 Tips to prepare your home for sale from Bobs Homes to make your home SHINES for the buying public in 2018!

Call for your free Market analysis to find what your home may be worth!

Happy Selling Season!

Bob Idakaar GRI

973-713-2377

Bob@BobsHomes.net

WWW.BOBSHOMES.NET