What to do First – Buy or Sell
If you already own a home, it's a basic question and the answer is as individual as you are.
Generally speaking, under most market conditions, real estate
professionals advise listing your present home and shopping for your
new home simultaneously. To consider your own individual needs and
circumstances, though, you should talk to your Sales Associate about
how fast you need to sell and how long you should expect it to take
in current market conditions.
In a robust real estate market, for example, you can assume your home would be more likely to sell quickly. In that case, if you have very specific criteria – like location, size, views, age, etc. which could lead to a time-consuming home search – you should consider finding and buying a home first before you sell your existing home. If necessary, you can make an offer to buy that home contingent on selling yours. On the other hand, if you sell first, you can make your rent dependent on finding a home to buy.
Seasonality can play a role in deciding when to sell – with spring and
fall the most popular seasons to put a home on the market. Your agent can
also help you consider the effect of factors like interest rates and
consumer confidence in the economy. Low interest rates will send you buyers
year round. Some may be deterred by unpleasant weather conditions, of
course, but it's been our experience that potential buyers who brave
inclement weather tend to be very motivated.
Your Dallas Boulevard Realty Sales Associate will help you find the solution that's right for you.
