Tips for selling your Brooklyn house and buying a new one at the same time
Moving is always stressful, whether you’re selling your Brooklyn house and buying a new one because of a job, school, or a bigger space for your family. Buying a house is among the most stressful events you can go through in a lifetime. However, when it’s doubled with trying to sell your current home at the same time it’s even more daunting. Still, if you follow these tips for selling your Brooklyn house and buying a new one at the same time, you can simplify the process.
The stress of selling and buying a house at the same time in one of Brooklyn’s finest neighborhoods for young families can make you second-guess the process in the first place. If you sell your hose first, you may end up with no place to live until you find your perfect Brooklyn house. But, if you buy a house first, you may end up paying for two houses until you sell the first one. This can seem like a game of luck. However, if you follow these tips below you’ll both processes go as smoothly as possible.
Should you sell or buy a Brooklyn house first?
The ultimate decision is yours, but here are some pros and cons of both decisions.
- Buying before selling. An obvious pro about buying a Brooklyn house before selling your current one is having a place to go when you sell your place. So, you just have to find professional movers on bestmovers.nyc that fit your budget and other needs so that you’re ready to relocate into the new Brooklyn house. Also, if you buy a house before selling, you’ll not have to pay for moving expenses twice. However, the con here is that you will end up paying for two mortgage payments at the same time.
- Selling before buying. If you selling your house before buying a new one, you’ll avoid paying two mortgages at once. So, you’ll not feel rushed into making a housing decision. But, you’ll end up leaving it up to chance that you’ll find something that fits your lifestyle and your budget.
Now, let’s start with the tips you should use when selling your Brooklyn house and buying a new one at the same time.
Tips for selling your Brooklyn house and buying a new one at the same time – Get a valuation
First, get a valuation on your current property. It will help you list it at a realistic price so you can maximize your investment and sell the house on time. To get an accurate price, you should first get an online valuation. Then you can compare it with those offered by local estate agents. Ask for evaluations from several agents. This way you can get an indication of the true market value of your Brooklyn house. Estate agents use their local knowledge to assess your house’s value. That’s why you should use local agents where possible.
A tip you can use here and increase your house valuation is home staging. You can find and hire professional that offer this services. These specialized people are really helpful. With their help, you’ll reduce the time your house is on the market. Plus, you’ll increase the amount of money earned from the sale. So, consider hiring them.
Work out your finances
If you understand your financial circumstances, you’ll be better placed when applying for mortgages. When there’s a gap between the current house equity and the deposit you need to buy the new house you’ve identified, you’ll need more funds to cover the deposit. This usually occurs when moving to more expensive property. When moving home you’ll still need to know your finances, just like you’re a first-time buyer. Especially when you’re upsizing and you’ll need to pay higher monthly repayments. Also, it’s a good idea to talk to your mortgage advisor. He can help you find a solution fitting your financial circumstances.
Tips for selling your Brooklyn house and buying a new one at the same time – Start your property search
The next thing you should do is contacting your local estate agents and search through online portals to find your ideal new Brooklyn house. But, before putting an offer in, you’ll be in a much stronger position if you have a buyer lined up for your house. However, since there are many best reasons to move to Brooklyn, hopefully, finding a buyer here will not be such a problem. Just make sure you are working with a professional and experienced estate agent when selling your home. To find such a person, you should do extensive online research on the performance of every agent. Determine their track record in selling homes like yours in Brooklyn.
Find your new house
Now it’s time for the existing part, and that’s searching for the new house. When you come up here, make sure you know what you’re looking for in a new house. So, go ahead and begin narrowing down your list of must-haves home features. Then, you can research potential neighborhoods and communities in Brooklyn. Consider finding a home in one of the best places to buy an apartment in Brooklyn. Since you’re moving within the same city, you can use the same agent to both selling and buying a house. But, make sure your agent understands your needs in this case.
Do not stress
As it’s said before, buying a home is one of life’s most stressful events besides death and divorces. But, once you’ve found a good mortgage deal and located your perfect new Brooklyn house, the rest should be pretty easier. Perhaps you happen to hear many horror stories but, the truth is, most people buy and sell a home without any large problems. So, don’t forget to keep a calm head during the whole moving process. Remember, this is a positive transition in your life. There is no need for you to worry and feel anxious.