I have a few clients that have agreed to let us sell their home however it’s based upon the condition of finding them their next home first. It’s the age old question, “where will I move to?” and it’s not an easy question to answer. There are some solutions however.
Conventional wisdom says that in order to find where you will move to next you need to put your current home under contract and then find your next home. This goes out the window when you either A) have not a strong enough incentive to sell or B) you have the money to purchase your next home without selling your first home. In these situations you’ll find your sellers asking you where they’ll move to next.
While I would love to tell all our sellers we will find your next home while we go through the sale of your current home that’s just not going to be the case 100 percent of the time. I have to ask my clients a few questions to determine the advice that will work best for them.
- What’s more important to you? Selling your current house or finding your next home?
- If you had to handle a double mortgage payment would you be able to and if so for how long?
- Would you be willing to do interim living while we look for your new home?
The truth is it’s very scary to consider selling your current home and moving to a new home. It gets even scarier when there’s little to choose from in terms of a new home. No one wants a double mortgage payment nor would they want to deal with that for long.
My advice is usually this: If you want to move to your new home let’s get your current home on the market and under contract. We’ll begin to look for your next home. If we don’t find it let’s have you doing corporate housing or interim living while we continue to look. If your next home is your dream home, isn’t that worth $2,300 a month in renting, while we find that house?
Marc Bayes is a Broker Associate with the Colorado Dream House Team, Keller Williams Realty DTC. Contact Marc at 720-446-6325