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Should I Sell My Current Home before Buying a New One?

With the new year upon us, many individuals may be looking to buy or sell a Waltham, home. A commonly asked question for most homeowners is “Do I sell my current home before buying a new one?”. This is a great question that we will be breaking down in this article to help put you on the right path to success. By understanding the fundamentals we hope to make the process of moving to a new home a seamless transition.

 

Understanding the Current Market

When it comes to buying a new home the housing market means everything. Whether or not you sell your current home first can be answered simply by examination. Meaning, depending on who the market caters to more buyers or sellers, will determine the best course of action. In a buyer's market, houses tend to stay on the market for a longer period of time. Therefore, you should put your home on the market before buying a new one in this market. Your home will not sell right away and will need additional time.

However, in a seller's market, it is recommended to do the opposite. Since homes sell much quicker and with lower contingencies in a seller's market. Your home will likely sell not long after putting it on the market. Allowing you to first purchase your new home whilst selling your current home in a similar time frame. This can help with reducing the amount of moving you will have to do between homes. Rather than moving twice, you might be lucky enough to move just once if both homes close at the same time. Understanding the market can help you save time and increase your overall efficiency when switching homes.

 

What’s Commonly Recommended

The most commonly recommended strategy for buying a new Waltham, home is to sell your current home first. By placing your home on the market first you can have numerous benefits for purchasing a new home. You’ll have a better understanding of overall budgets and how much you can afford on your new Waltham, MA, home. Whilst also reducing the headache of having two mortgages at the same time. The added stress that comes from wanting to sell your current home faster will also be avoided.

 

Find Temporary Housing

Whilst selling your current home is recommended for general instances, it does not suit everyone's needs. If you do sell your home faster than you purchase a new one then be prepared to look for living alternatives. Many individuals do not have friends or family that can allow them to stay at their property. Meaning that you’ll have to purchase housing from services like Airbnb and Vrbo for the time being. We understand that this added expense is not possible for all. Therefore, if you have no housing alternatives then consider waiting to sell your home until you purchase a new one.

 

Sell and Buy Your New Home

Are you looking for guidance on buying or selling a home in Waltham, MA? Then contact one of the most trusted real estate agents in the town of Waltham. Hans Brings, will guide you throughout the process making sure you are taken care of. Rather than feeling lost or confused call Hans Brings today for more information!

 

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