The real estate market is hot. People are paying well above offering prices for homes they want. The good news is you might be able to afford it since your property’s selling amount will also be higher.
Needless to say, you want to take advantage of this situation as soon as possible. Here are a few tips to get rid of your old house and buy a new one.
Find the Right Real Estate Agent
If you are like many people right now, you are probably saying something like “I should sell my home.” The market is great right now if you are looking to sell. When you do so, however, you’ll need a good realtor to help you with this. By looking online, checking past reviews, and asking friends and family for help, you can find a realtor who is experienced in your area to help sell your home. This will, in turn, help you get your home listed faster and make sure that you will sell it.
Put Your Finances in Order
Despite the heat of the real estate market and low mortgage rates, financial institutions aren’t making it easier to get a home loan. They’ve been through this type of home bubble before and they aren’t taking chances. Thus, your finances must be in order. You need to have more income, at least two times the monthly mortgage, than debt. If the latter is higher than the former, you need to take a step back to clean things up.
Get Your House Ready
Yes, there are stories of desperate people who are paying top dollar for a ramshackle home. However, those are rare. Buyers still want to see your property’s best face before they put down an offer. Clean and paint areas that have been neglected over time. Take care of repairs that have been left alone because you didn’t have time to fix them. If needed, spend some money on a staging company to put a proper face on the rooms in your home.
Determine the Home You Want
Are you moving because your family is growing? Perhaps you have to relocate to a new city or state because of a job. Either way, you want to determine the home you want ahead of time. The housing bubble will eventually break. When that happens your residence might not retain its value. Thus, even if you can afford something you normally wouldn’t purchase, look at something below your means. The money you save on mortgage payments can be used to make the necessary improvements.
If you are considering relocating and trying to sell your home, now is a good time to do so. Make sure to follow the above steps to prepare yourself and your home for sale so that you can find a new home as soon as possible.