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I've read a thread on here where the writer said you'd be crazy to sell your house without having another house to buy all lined up.
My question is about timing. We're not sure how to go about this. We want to downsize from the big family home to something smaller with less upkeep.
We have seen new homes that we like (4 -6 month build time) and we've also seen a couple spec houses that interest us (available immediately so they may be gone by the time we sell). The new home builders will contract with you on the house while you sell your existing home.
If we can sell our house, then we can make an offer on a spec house and maybe we can make things coordinate for the move. If we list our house and enter a contract to build, then we'll probably sell and be forced to move "somewhere" until the new house is ready. Not sure how to play it.
We've also been thinking about listing our home and then maybe renting a house or apartment for a year (or more) so we can "play the field" and either: 1) build the new house with the expectation that it will be done in 10 months from contract, or 2) staying in the rental and having a nice cash deposit on hand (equity from current home) to make a play for anything that strikes our fancy during the one year rental. Of course, this means two physical moves and maybe some storage expenses.
One thing I am adamant about is when I list our home, I am not playing games with price. I don't want to list it too high and hope for action. I want to put it up at a good price (on the conservative side of the comps) and hope to sell the thing pretty quickly.
I've read a thread on here where the writer said you'd be crazy to sell your house without having another house to buy all lined up.
You have a crazy market such as Denver.
Rental vacancy rate is 2.2% for single family houses.
For sale inventory is almost at the record low.
Houses are selling in less than a week. Multiple offers on many.
But you can always live in a double wide. Two cars in the Walmart parking lot.
You have a crazy market such as Denver.
Rental vacancy rate is 2.2% for single family houses.
For sale inventory is almost at the record low.
Houses are selling in less than a week. Multiple offers on many.
The market around here is not that quick (from what I understand). We haven't interviewed realtors or received comps yet. I've seen several houses like mine list within the past year with mixed results.
Quote:
Originally Posted by 495neighbor
You would make the purchase of the new home contingent upon your selling your current home, right?
Yes, the builders we've talked to would use a contingency to let us out if the house doesn't sell.
You might also find a builder who will take your house in trade, at a pre-arranged price, if yours does not sell by the time the new house is complete.
My subdivision is composed of older starter houses (8-10 yr old) and new larger houses(1-2 yrs). One builder is offering a trade-up deal. No sure how it works but it's an option. All the 3 yr old and newer houses are probably twice the size of the older ones.
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This is only true when
