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Should You Sell Your Current Home Before You Buy a New One?

Thursday, October 24, 2019   /   by Katrina Miller

Should You Sell Your Current Home Before You Buy a New One?

Should you sell your current home before buying a new one here in Spokane, WA? Here are the upsides and downsides.
If you choose to sell your home first you'll know exactly what your budget is and you'll feel less uncertain about the outcome...Let's dive in;


The upsides of selling before you find a new home:

Buying with a set budget: 
You know exactly how much money you have to buy with.
Financing is simple: 
Use the cash from your sale as a huge down payment and borrow the rest from a mortgage company.
Reduced the pressure: 
You can take your time searching for the perfect home 

Downfalls:
Missing out on your dream home:
Let's say your dream home pops up on the market you could potentially miss out because your current home has not sold and the sellers of your dream home will not accept a contingent offer. 
Renting: This is huge, most rental companies in Spokane do not offer month to month leases. So here you are stuck in a 6 month inflated rental agreement. If you have someone to stay with so you don't get locked into a lease that is ideal. 
Moving twice:
You’ll pay twice for movers plus the cost of storing your furniture.

Sell and buy at the same time;
With top-notch planning and a good Realtor on your side you totally can sell and buy at the same time. To better your chances, use the same agent to sell your home and buy a new one. This makes the process more efficient especially when it comes to coordinating dates. You may even be able to negotiate a discount on commission.
Overall buying and selling can be tricky, reach out to me at Haven Real Estate Group and we can discuss your options. 

Katrina Jo Miller
Haven Real Estate Group
509-496-2288

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Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201
509-590-4701

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