Are you wondering if now is the time to buy a new house before you sell your current one? If so, you aren’t alone! In 2020, more than 5.64 million homes were sold in the United States.
The onset of the COVID-19 global pandemic in 2020 saw more Americans move than in any year since 2006! The hot real estate market has also driven many buyers to keep their homes while looking for a new one.
Read on to learn when to buy a new house before selling the old one!
Buy During Unfavorable Conditions
If you’re buying in a seller’s market, you should consider making an offer on a house before selling yours. What is a seller’s market? Simply put, it’s the period when there are more prospective buyers than there are homes for sale.
In times like these, time is of the essence and you may lose out on an opportunity if you wait too long. Don’t miss out on your dream home by waiting to sell your new one.
Get it done the fastest way by making a strong offer on the new house you want!
You Want to Remodel Your New Home
Sometimes you will begin viewing houses before you put your current one on the market. During your search, you may find a home that’s in the perfect location but needs to have a major remodel.
Instead of living in an active construction site or renting a home during construction, you can live where you are comfortable in your current place. This will help you and your family avoid a negative impact on the routine in everyday life.
Find a Great Deal
There can be times when you aren’t very serious about finding a new home but find a great deal you can’t pass up. If you’ve found a great home – to rent or live in – you shouldn’t avoid buying it just because you are already a homeowner.
Speak with your spouse or significant other about how you feel about the opportunity to buy a new home. What are the pros and cons of the decision to put in an offer? How will your financial situation change if your offer is accepted?
Talking about these things will give you a clearer picture of how to reach your decision. It can also help you decide to keep your current home as you pursue a new bargain!
The Decision to Buy a New House Before Selling the Old One
At first glance, you may think it is financially irresponsible to buy a new house before selling the old one. When you take a closer look at the situation, there can be very good reasons to decide to hold onto your current home while buying a new one.
Approach each opportunity with a wide sense so that you don’t miss out on buying the home of your dreams when the time is right! Check out our blog post section for design tips to put to use in your home, old or new!