I just watched relatives walk the winding path of relocating. It brought up that never ending quandary of 'Buy first' vs 'Sell first'. What is best?
If you Sell first, you know what funds are now available to you as you look for your next home. You won't end up with two mortgages. But, you are now under pressure to find that new home within a certain time limit. If you don't find it, you could end up renting and storing your things or buying a home your really not in love with.
If you Buy first, you know where you are going. You probably found your dream home. Now you're under the gun to sell your existing home. You may have to settle for getting less or paying two mortgages for a time.
From dealing with clients for the past ten years who have opted for one side or the other of this issue, I have come to the conclusion that both ways are stressful.
It's my job to help with the stresses associated with preparing a client's home for the market. I want their home to appeal to as many buyers as possible. This increases the chances of a quick sale at the best possible price.
Here are some tips:
- Plan ahead by keeping up the maintenance on your property. This will cut down on last minute bills.
- Update light fixtures, flooring, taps etc.
- Keep the envelope of the home neutral so that the buyers can bring any color of furnishings.
- Give yourself time to do the necessary preparation for the market.
- Sort, donate, discard and pack to open up the rooms.
- Remove personal items like photos, religious items and large collections. You want the buyer focused on themselves living in the home not how you live there.
- Create good traffic flow in and out of rooms to make the home feel comfortable.
- Make sure there is lots of sunlight coming through the windows.
- Tidy storage areas.
- Work on the key living areas of the home first.
Having a Stager provide a clear plan of action and setting priorities for you can help ease the stress involved in preparing your home for sale.
Sell firsts? Buy first? Which way is best?
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