Skip to main content

It’s harder buying the next house I want to live in than the 1st house - is this an okay plan?

Tl;dr Does it make sense to buy the new house we want (likely with a smaller down payment and pay PMI), then put our current house on the market and try to sell. Then recast the new mortgage depending on how much it costs to sell the first house?

So I’ll admit it’s easier in the sense we know more of what we want, and that we’re slightly more familiar with the buying process having gone through it. That said, we’re totally rookies to selling our first house, and it seems need even more money saved to account for the down payment/costs with buying a new home + the costs associated with selling a home.

Concern with selling our current home first, then being on the clock finding a new place or stick with contingent offers we’re placing or adding a rent back clause.

That said going the other direction, I struggle with knowing what the house we live in now actually sells for and how much we need available for sellers cost.

Are these valid concerns? Appreciate any insight. Thanks

submitted by /u/superspeedymanatee
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/k3xkub/its_harder_buying_the_next_house_i_want_to_live/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more