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Moving On Up: Should You Buy Or Sell First?

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Moving On Up: Should You Buy Or Sell First?It’s exciting to be able to move into a new home. But there are some tricky details to navigate when you already own a home and you’re ready to buy a new one. Should you buy or sell first? Don’t worry. There are viable solutions.

Should You Sell First?

Think about how selling your home first will impact your family. On the one hand, you’ll be in a better financial position. You’ll have cash in the bank. You may be able to negotiate better terms on your new house by putting more down. However, selling first may mean moving into temporary housing while you find a new house to buy. You might need to store your furnishings. In other words, you may need to move twice.

Should You Buy First?

Buying first gives you more stability. You can stay in your own home until you’re able to move into the new house. When you do move, there won’t be a big rush. You could move over the course of a week or even more. The downside to buying first is that you might be responsible for paying two mortgages for a month or more. There’s no guarantee that your home will sell in a predetermined length of time. And, there’s no guarantee you’ll get the amount of money for your old home that you need to be financially secure.

Viable Solutions No Matter What You Do

Thankfully, there are solutions no matter how you decide. If you sell your home first, you could ask your buyers for a later closing date so that you have time to find a new home. You could even ask them if you can lease your old home on a month-to-month basis so that you have time to buy a new home.

If you buy a new home first, you could get a bridge loan, that helps you pay the second mortgage until you sell your old home. You could also rent out your old home to help offset your mortgage payment.

As you can see, there are ways of making both scenarios work. Whether you decide to buy first or sell first, your real estate agent can help you make it happen.

Will the Housing Market Bloom This Spring?

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Will the Housing Market Bloom This Spring? | MyKCM

Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about the housing market and how it will bloom this season.

Danielle Hale, Chief Economist, realtor.com:

“Despite early weakness, we expect to see new listings grow in March and April as they traditionally do heading into spring, and last year’s extraordinarily low new listings comparison point will mean year over year gains. One other potential bright spot for would-be homebuyers, new construction, which has risen at a year over year pace of 20% or more for the last few months, will provide additional for-sale inventory relief.”

Ali Wolf, Chief Economist, Zonda:

“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed. This suggests more inventory will be for sale in late 2021 and into the spring selling season in 2022.”

Freddie Mac:

“Since reaching a low point in January, mortgage rates have risen by more than 30 basis points… However, the rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

Mark Fleming, Chief Economist, First American:

“As the housing market heads into the spring home buying season, the ongoing supply and demand imbalance all but assures more house price growth…Many find it hard to believe, but housing is actually undervalued in most markets and the gap between house-buying power and sale prices indicates there’s room for further house price growth in the months to come.”

Bottom Line

The experts are very optimistic about the housing market right now. If you pressed pause on your real estate plans over the winter, let’s chat to determine how you can re-engage in the homebuying process this spring.

Planning a Move With Your Pets

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Planning a Move With Your PetsAs a pet owner, you’re probably just as excited to see how your pet loves the new house as you are yourself. It’s fun to watch as your pets explore the new digs. But moving can be stressful for pets. Here are some tips for making the move as stress-free as you can for your furry loved ones!

Acclimate Your Pets To A Pet Carrier

If you travel infrequently, your pets may not be used to being inside the confined space of a pet carrier. Help them get used to it by placing it on the floor near where they sleep. Put some of their favorite toys or blankets inside and encourage them to spend time in there. Once inside, bring Fido or kitty for a short ride in the family car; just once or twice around the block is plenty. Do this a couple of times a week and always reward them afterward with a treat or some petting.

Keep Pets Isolated On Moving Day

Moving day will be scary for your pets. To keep them calm and safe, isolate them in a separate room in the house. You could place food and water bowls in a spare bathroom along with a blanket to rest on. Put a sign on the door so the moving men don’t enter. Isolating pets on moving day will also prevent pets from running outside, where they might run off out of fear or confusion.

Let Pets Adjust To Your New Home Slowly

Even if you have pets that are savvy and accustomed to being outdoors, you don’t want to let them outside when you first move. They may become disoriented and try to walk back to the old house. Or they could encounter a neighborhood animal that isn’t friendly. For a few days after you move into your new home, keep little Fluffy indoors. There will be plenty of time for them to transition into the backyard if that’s something you want for your pets.

Your pets will grow to love your new home, but it’s important to let them take it slow. These three tips may help with the transition. Above all, help them to feel comfortable with the traveling and keep them away from the activity on the actual moving day.

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