With low inventory in many markets throughout the country, some homeowners are afraid to sell their homes because they’re concerned that they may not be able to find a new one.
But if you are seeking to sell – whether to upgrade or find a new neighborhood – there ARE ways to overcome this challenge!
1. Research where you want to buy first
Start looking for potential replacement properties before your other home has sold. While it may be too soon to write offers, ask your Realtor to begin sending you listings in your price range early on. That way, you can determine your must haves and the areas in which you are interested. Then when you’re ready, you can laser focus on exactly what you want.
2. Think outside the box
Keep in mind that there are homeowners out there who want to make a move but are on the fence. Your Realtor can mail a letter to the neighborhoods in the geographic areas where you want to live. You could find a home to buy that may not be currently listed or for sale.
3. Play it safe on the sale side
Depending on the market, you may be able to negotiate with potential buyers to allow you to find your replacement property before you complete the sale of your home. In other words, if you cannot find your next home, you will not have to sell your current home. Your Realtor can advise as to the most beneficial approach for your particular situation.