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Congratulations! If you're thinking about moving up to a larger home then you're probably experiencing a positive life changing event. Most of us dream about the point in our lives where we can improve our lifestyle. Now that you're ready to make the move you'll need to consider a few things:
- Do you need to sell before you can buy?
- Or are you willing to consider bridge financing?
- What can you afford based on the equity you'd like to receive from your current home?
- What savings are you willing to contribute toward your new home?
- What debt load are you willing to carry?
The first step is to discuss the sale of your current home with our listing specialist!
Our listing specialist will be able to help you determine the net income from the sale of your current home. This plus your current savings and credit worthiness determine your potential to purchase a larger home. You might want to look at a few prospective homes but unless you're willing to get a bridge loan and carry two mortgages, you're better off focusing your energy on making those minor repairs so that you current home will showcase as well as possible. Being teased by finding your dream home before you're ready to make a move can make people purchase unreasonably. Save yourself the heartache and let your listing specialist sell your home now!
While your home is on the market, meet with prospective mortgage lenders and line up your financing. By getting your financing established, you'll be able to get a pre-approval letter from your lender. There is no fee or commitment to get the pre-approval letter but this will help you have a clearer understanding of your budget for a new home plus it strengthens your offer when you're ready to make one.
Once your current home is under contract it's time to focus on finding your dream home!
Our buying specialist will help you locate your dream home in your desired neighborhood, school district, price range, or amenities. In no time at all, you'll be planning your move. Be sure to visit our Moving Tips page for handy dandy tips.
Our team of real estate professionals and closing coordinator will walk you through the coordination of the two closings and make everything go as smoothly as possible. Before you know it, you'll be planning your house warming party!
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