Moving On Up – Your Second or Third Home Buying Purchase

Buying your second home is a little different than your first home buying experience. The last thing you want is to have to pay two mortgage notes at the same time. You also don’t want to sell your current home and not a have a new home to move into. The following information is to help you achieve a smooth transition between selling your currently owned home and buying a new home.

Making minor improvements to your existing home to look more appealing to potential buyers is an easy way to help you sell your home faster. These improvements don’t have to cost a large amount of money; simple things such as new paint on the walls or new carpeting can make a big difference to potential buyers. It also helps to ensure that you get asking price for your home. Improvements may seem like an unnecessary cost now, but in the long run these improvements will pay off.

Before you even begin to look for a new home, it is very important that you get pre-qualified for a mortgage. The cost of pre-qualification free and requires no obligation to purchase. The benefit of getting pre-qualified is that you will know what homes you can afford and which ones are out of your price range.

The best way to avoid having to pay two mortgages at once is to buy your new home after your current home is sold. This will eliminate you from feeling pressured into selling your home at a below market value just to get rid of it. Be sure to add a contingency clause to your contract that will give you a reasonable amount of time to move out of your home, so you are not scrambling to find a new place to live.

If your home is not selling as fast as you would like, consider temporarily renting out your current home and then trying to sell it later. A way to avoid this dilemma is to find a Realtor® that offers a guaranteed sale, “trade-up” program. This program guarantees the sale of your present home before you take possession of a new one. In other words, if you find a new home you would like to buy and have not sold your current home, the agent will buy the home from you so that you can make the move without the burden.

At Ron Lee Homes and Hearthstone Homes by Ron Lee, our team of experts will work with you to see how you may best make the transition from your current home to a new home or a new custom home with our company.  Our financial experts and home designers are here to make your home buying and selling experience a happy and worry-free process.  You can Contact Us Directly or Call 985-626-7619 and e-mail for more information.