What to do? Just because there are other buyers in the market doesn't mean you can't come away with your dream house. Now you may be facing some competition for the best properties. Problem is while you were making up your mind, other fence sitters jumped into the home market too. So you've finally decided to buy your next home. Typically there is no cost or obligation to inquire.Ĩ Simple Secrets to Avoid Costly Mistakes Buying Your Dream Home For example they can make the process faster thereby avoiding costly delays. Enlisting their services can make a significant difference in the cost and effectiveness of the mortgage you obtain. Better still, find a way to eliminate this situation altogether by getting your agent to guarantee the sale of your present home (see point number 5 below).Ĭonsider dealing only with a professional who specializes in mortgages. You'll have to investigate the tax rules if you choose this latter option. If the market is slow and you find your home is not selling as quickly as you anticipated, another option could be renting your home and putting it up on the market later - particularly if you are selling a smaller, starter home. ![]() If you do get a tempting offer on your home but haven't made significant headway on finding your next home, you might want to put in a contingency clause in the sale con-tract which gives you a reasonable time to find a home to buy. If you've already sold your home, you can buy your next one with no strings attached. This way you will not find yourself at a disadvantage at the negotiating table, feeling pressured to accept an offer that is below-market value because you have to meet a purchase deadline. Knowledge of these six mistakes, and the strategies to overcome them, will help you make informed choices before you put your existing home on the market. In this report, we outline the six most common mistakes homeowners make when moving to a larger home. Not only is there the issue of financing to consider, but you also have to sell your present home at exactly the right time in order to avoid either the financial burden of owning two homes or, just as bad, the dilemma of having no place to live during the gap between closings. It's very important for you to consider these issues before you list your home for sale. Unlike the experience of buying a first home, when you're looking to move-up, and already own a home, there are certain factors that can complicate the situation. Buying GuidesĦ Mistakes to Avoid When Trading Up to a Larger Home Please refer to one of our local offices for further assistance. One of our local Real Estate Agents would be happy to meet with you to help you find a property. We can assist you with everything from locating a home, to supplying you with market analysis, to making and closing an offer. ![]() We offer many services to make your buying process easier, faster, and less expensive.
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