With clients who are wanting to list their home and are making another purchase after, we often discuss their financial ability to find their next step first, before listing and selling their home. This is a conversation that would need to be confirmed with a financial consultant of course, but if it's doable, there are benefits that can come from it.
First of all, finding your next step before listing your home, relieves an element of stress from the buying equation. Most people we talk to are concerned about where they will buy or move to after their home sells. This way, you would have time to find something before taking the step to list your current home.
Secondly, taking possession of a new home prior to listing your current home allows you to take your time moving in, assessing what furniture and items fit best at the new place and gives time to have it all set up before that first night in. Also, if you are needing or wanting to renovate or alter the home in any way, you can do so without having to live in a construction zone!
A third benefit is that once you are settled into your new home, you now have time to take a look at the home that you plan on listing and decide if there is anything that could be done to increase its market value before doing so. We don't often suggest any huge undertakings in preparing a home for listing, but sometimes a quick paint job here and a small amount of staging there can really help. You want to have it look as clean, well kept, and neutral as possible, without spending too much of course. Another suggestion, especially for older homes, would be to have a pre-inspection done. This way you can deal with items that may affect the saleability of your home ahead of time.
A final bonus when listing a vacant home is that you don't have to worry about preparing for showings or have them interrupt your schedule. The home is show ready and accessible to agents who want to bring their buyers through, a definite plus when marketing a home. This is especially helpful if you are a busy family with kids, as we all know how our homes tend to take on that "lived-in" look on hectic days!
If you need to sell your home first, before making the move to your next step, do not despair. There are benefits to that too. Stay tuned to find out more!
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