If you’re in the process of simultaneously buying and selling a home, you may be in for the most stressful experience of your life. One UK-based real estate survey of over two thousand people found that buying and selling a house is more stressful than divorce, bankruptcy, a death in the family, becoming a parent for the first time, and even planning a wedding!
It’s not easy, but staying calm will help you to plan for your upcoming home purchase and sale and make the process easier. So how can you avoid the stress? Here are three strategies that will keep you calm, no matter what may happen.
Have A Thorough Plan In Place…
Much of the stress that you’ll experience will probably be the result of poor planning. You may feel stressed if you don’t have enough time to move or if you have to pay mortgages on two homes because your old home isn’t selling fast enough.
Before you get too far into the buying and selling process, talk with a real estate agent and ensure you have a solid plan in place for how you’ll manage buying and selling at the same time. Leave a time and expense buffer for unexpected complications – even if nothing goes wrong, it’s still nice to know you have some room to work with.
…But Be Ready To Improvise If Things Go Sideways
There are a number of ways that buying and selling at the same time might result in complications. Poor timing might mean you need to move out before you have a home to move into, or it might mean you don’t have the money for your new home if your old home hasn’t sold. Be prepared to rent a hotel room, take out a short-term loan, or move your belongings into storage if the sale doesn’t go according to plan.
Talk Out Your Problems With Loved Ones
In times of stress, it’s helpful to turn to friends and family for a helping hand. Studies have shown that having a strong social support network can mitigate the effects of stress, and even the Mayo Clinic suggests reaching out to loved ones when you feel overwhelmed. Don’t be afraid to ask your friends for emotional support, and whenever you have an opportunity to socialize, take it – you’ll find it easier to handle stress after a fun night out with friends.
Buying and selling a home at the same time is bound to be stressful, but an experienced real estate agent can minimize the agony. Call a real estate agent near you to learn how you can successfully buy and sell a home at the same time.
If you’ve been following the real estate industry for any length of time, you’ve probably heard the phrase “buyer’s market” at some point. And although the meaning may seem apparent, it takes some study to understand what actually constitutes a buyer’s market.
Each real estate market is unique in various ways, and your local real estate agent can help you to become more familiar with the trends in your community. For example, in some areas, it may be common for a seller to pay for at least a portion of the buyer’s closing costs, but this may not be common practice in other areas. While each market may be unique, there are some common trends that you can expect to be rather widespread across many communities throughout the rest of the year.
When many people think about investing in property, they think about purchasing income-producing real estate such as a residential property or an office building with tenants. There are indeed many benefits associated with investing in income-producing property. For example, these properties may produce rent that can offset your ownership expenses. However, buying raw land can also be an excellent long-term investment strategy.
When you purchase a new home, escrow is a word that you will hear numerous times from different parties. There are several types of escrow accounts that will be established, and you may be wondering where your money will go when placed in an escrow account or how it is applied to your transaction. By taking time to learn more about the escrow process, you can be a more informed buyer.
Whether you are buying property, selling property or both, the process can be challenging, stressful and even overwhelming at times. Just as you may use various mobile apps to streamline and simplify other aspects of your life, you can also use some well-designed apps to improve your overall experience when you are buying or selling property. These are some of the best apps for you to use as you move forward with your real estate plans.
When you make the decision to sell your home, you may eagerly seek assistance from a skilled real estate agent. A real estate agent offers important services that can help you to more successfully and easily sell your home in the fastest amount of time and for the best price. This is a professional who is committed to helping you achieve your goal and who will not be compensated for his or her efforts unless successful. With a closer look at how real estate commissions are earned, you will see that your agent will work hard for his or her compensation.
If you are thinking about listing your home for sale, one of the biggest factors that may be holding you back from pulling the trigger on this decision is the value of your home. You may have a decent idea about the value of your home by researching other listings in your community, but you may not be able to pinpoint a fair asking price that would get your home sold quickly without leaving money on the table. The fact is that your knowledgeable real estate agent will provide you with a valuation up-front, and this can help you to make a more informed decision. There are several components to the valuation that you may need to know more about.