Today I want to address an important topic I get questions about quite frequently. One of the catch-22's of real estate is that most buyers are sellers, and most sellers are buyers. A lot of times, when people find that perfect home they want to buy, they still haven't sold their old one. Sometimes families are able to move into their new home while they wait for the old one to sell, others aren't so lucky.Certain banks offer mortgage programs that require you to sell your current home before purchasing a new one. This leaves a lot of people stuck until they are able to sell, and often times it leaves them on the outside looking in on their dream home.
We want to make sure this doesn't happen to you when you decide to change homes. This is why we want to offer some solutions for you to consider before deciding to move homes.
If you can afford to take on two mortgages and give your home time on the market to sell, that is great. You will get your home sold for a good price, although it might take some time. If you can't afford the double mortgage crutch, renting is another option. Although it is a risky investment, renting out your home brings you a solid income if you can't sell your home.
Before you make a decision, remember, it's your hard-earned money that you are investing. Be responsible, look at all the scenarios, and make the best decisions possible for you in today's market so you can come out ahead.
If you have any questions for us, please give us a call or send an email. We look forward to hearing from you soon.
No comments:
Post a Comment