There are always a million things to worry about when you are moving house. This is especially true if you are selling your property while buying a new one. Here are the rules you need to remember.
Divide And Conquer Works
Create a plan of action with your partner. Detail every part of the move that needs to get done. If you are selling and buying at the same time, assign one person to each task. Make a list of each admin duty, including taking photos of your property and setting up search alerts, and be clear about who is handling what.
Timing Is Crucial
Look at the state of the housing market in your area before you get started. The US housing market is at a tipping point right now. You will be in a strong position as a seller but buying will be very competitive in the 2021 market. Be prepared to wait for the right deal instead of rushing into anything.
Do Your Research
Make time to learn about the neighborhoods you are looking at. Compare prices, talk to friends in the area, and have a back-up plan in case you can’t find anything. Talk to loan providers like The Home Loan Expert about the best interest rate for you. Think about a flexible mortgage if you are waiting for your previous home sale to go through.
Look For Areas Of Improvement In The Property You Are Selling
Address issues that will be a red flag for anyone looking to buy your property. Avoid committing to big work projects but focus on issues that will bring your price down. Hire a plumber and an electrician to get your house up to code. Bring in your own surveyor to find out about structural issues from damp to subsidence before you put your property on the market. Remember the importance of aesthetics. Add a fresh coat of paint to your home. Tidy your garden and mow the grass. Take pictures of the property that are flattering but which do not misrepresent it.
Don’t Neglect Your Finances
Stay on top of your existing payments during this process. Talk to your bank if waiting for your home sale to go through is making things difficult. Avoid taking out any more loans during this period. Be sure that you can make ends meet if your purchase goes through before the sale does. Look for ways to make extra money during this time, such as freelancing. Avoid leaving your job during this time as the job market is still unpredictable.