Thinking of Selling, but Worried about Finding Another House?
Do you want to sell your home and take advantage of this sellers market but are worried that you won’t be able to find another place to live? I’m going to share 4 possible solutions plus a bonus idea.
The First Solution
Buy Before You Sell! If you’re not sure if this will work for you, then you’ll definitely want to speak with a lender to find out if you would be approved to buy a house while still owning your current home. With the low interest rates, many homeowners are surprised that they are actually able to buy BEFORE they sell. In the meantime you can be getting your house ready to sell. When you do put it on the market, it should sell quickly which will hopefully avoid any double mortgage payments.
The Second Solution
Sell Before You Buy! In order to make this work, you’ll likely want to secure a short term rental to live in while you are searching for the right home. There are short term rental homes, apartments and condos out there that could be the answer to your dilemma. This year I have had clients find homes to rent for 3 months, apartments to rent for 6 months AND one of my clients manages a condo complex in St. Louis that specializes in short term rentals.
The Third Solution
This one goes hand in hand with the second solution and that is to Rent for the short term. Some sellers aren’t quite sure where they want to live but they know they are ready to downsize and they want to take advantage of the sellers market. So, they decide to find a rental and take time….maybe 6 months or a year…to decide on a more permanent living situation.
The Fourth Solution
Another option that might work for you is to work with the new buyer to rent back your current house after closing. This is becoming more prevalent as the inventory remains low.
Buy an RV and travel! That’s right! Two of my clients in the past 6 months have sold their home and set out on the road in their RV. These couples happen to be retired but with so many people working from home now, this may be a viable option for people of all ages!
This is a question many people are considering right now. We have helped many sellers through this and are here to answer any questions you may have. Let us know how we can help you.