08 Aug A Guide For Upsizing Into Your Next Home
Sometimes life can throw a lot at you and your house will struggle to keep up. Be it kids, clutter, or changing priorities, sometimes your current home just does not feel not big enough. This is a good time to consider moving to a larger home that better fits your needs, a process called upsizing. Buying a home and selling a home can be difficult, however, and doing them at the same time can be a trying experience. The best approach to a task this complex is an organized one and it all begins with contacting the right people who can help you.
The first step in upsizing into a new home is to contact a lender and a realtor and discuss your options. There can be some difficulty in determining the value of your old home and these two professionals can help immensely. Both can help you get an idea as to what your homes value might be. The lender will be able to give you an idea as to what kind of mortgage you can afford with the sale of your previous home (given that it sells for what you anticipate), and the realtor can help you through the process of selling your old home.
The next step is to begin the search for a new home. You will likely need to get in touch with another agent who can help you in your search. They can also help coordinate the transfer of money when you sell your old home and purchase the new, helping smooth out the transition. It is during this phase when you should begin to move out of your old house and have it staged so that prospective buyers can visit.
When your old house finally sells, it is time to move. It is very important to note that you should try to use the same escrow company the entire time to make the transaction easier. If you have not yet found a new home, now would be the time to find a temporary dwelling.
Hopefully the process will go smoothly, however, and if the timing lines up you will be able to move from your old home to your new home. Your realtors can work with you to try to line up the dates. No matter what your situation, however, the whole process is difficult and complicated. This means the most important step you can make is finding a lender and realtors that you trust, which will make the process far easier and will give you the most valuable gift of all – peace of mind.