Here’s how you can sell and buy in the 2021 market.
One question we get a lot from sellers in this current market is, “Where will I live?”
When you look at the inventory situation in our market, everybody keeps saying that there’s nothing to buy. We would question that consensus, but if you look at what’s happening out there, you’ll see some great opportunities for sellers. In the past year, we’ve seen the equity positions in homes rise over 10%, which is phenomenal.
Again, though, the question remains: Where will you live after selling? Finn Realty Group has created a plan that will allow you to take positions in the market that suit you and your family. There are three strategies in particular that you can choose from:
1. Buy now and sell later. We’d help you purchase the house you’re looking for now, restructure your loan with your local lender so you can sell later, and then take the equity out of that home and put it into your new one. This is a great opportunity for you to find the home you’ve been looking for and sell the one you’re in now.
"Finn Realty Group has created a plan that will allow you to take positions in the market that suit you and your family."
2. Sell now and stay put. This means selling now and staying in that home. In our current market situation, buyers are willing to extend closings to sellers so they can stay in their homes longer after closing and transition into their new homes. The other option is to become a renter of your old home after it’s sold so that you can stay there while searching for your next home. This is a great way to prevent having to make two moves, and buyers are willing to accommodate this option.
3. Sell now and move now. This means getting your house sold and putting that equity in the bank so you’re ready to make your purchase. Where will you go, though? If you have family in the area, you can stay with them for a short time before you find the right home. You can also stay in a temporary house with a short-term lease as you conduct your home search. If you have all that equity sitting in the bank, you can make an offer with a strong down payment, which will put you ahead of a lot of other buyers in this market.
If you’d like to talk more about these strategies or have any other real estate questions, don’t hesitate to reach out to us. We’d love to hear from you.
