does it make sense to buy a new home before you sell?

Does It Make Sense to

Buy a New Home Before You Sell?

If you are ready to purchase a

new home, but have not sold

your old house yet, you will need

to make a difficult decision.

Should you purchase the new

home now, or just wait until the

old one sells.

The answer to this question

is not so simple.

However, by asking yourself some

additional questions, you will be

able to make the right choice

about purchasing your new home.

Is The New Home A Necessity?

Are you required to move for

work or family reasons, and is this

move needed immediately?

If so, you may wish to purchase

your new home now and keep

your old property up for sale.

If you are moving out of state,

contact a management company

to keep the maintenance up on

your old home until it sells.

If you are going to own two

homes at one time, it is also

important to consider some of the

double costs you will be incurring

during this period.

You will have to pay

maintenance and some of the

utilities on both properties until

the older home sales.

These additional costs should be

part of your consideration.

Is It A Really Good Deal?

Sometimes the price on the perfect

home cannot be overlooked.

Combined with low interest rates, it

may be in your best interest to

secure the new home right now and

keep your old home on the market.

Real estate prices have begun

to climb again as the

economy grows stronger.

Locking into a good deal now

may prevent you from paying

a lot more in the near future

for the same type of property.

In addition, you can use your

older home as a bargaining tool

on the new home purchase.

If the seller really wants to sell their

home, they may be willing to

negotiate the price or throw in some

extras like a home warranty to

convince you to purchase the

property before selling your old

home. Use this to your advantage.

Can You Afford Two Mortgages?

You must consider if you can

afford two mortgage payments

during the time you are waiting

for your home to sell.

If you can, make the purchase. If you

cannot, you may want to speak to

your realtor about different options

for selling the old house.

Your realtor may recommend several

options including reducing the

selling price, creating a massive

marketing campaign, or even

packaging the home up as rent-to-

own if this is allowable in your area.

All of these options should be

discussed with your realtor.

Consider Being A Landlord

If you are interested, you could

take advantage of owning two

homes and become a landlord.

Some realtors also work as

management companies

for rental properties.

By placing your home with a

management company, you can keep

the equity you have in that home,

increase your net worth by owning two

properties, and have the mortgage

payment covered by the renters.

If you are looking for a condo

to buy in Arizona, We Know

Urban Realty will help you find

the perfect place.

Their realtors are experts

when it comes to urban living.

Visit the site to see what's available

right now:

www.weknowurban.com