Well, the time has come. You’ve made a very nice bed for the new baby in a dresser drawer, you’ve placed a TV in the unfinished basement, and you spend your “me” time in the bathroom (because it’s the only door that locks), but somehow, life in your little shoebox is feeling less and less like home. You need to move.
So what does it take to make the leap from your two-bedroom condo to a four bedroom house? Well a little bit of planning and a lot of…credit. (Haha, you thought I was going to say money, didn’t you?) I have many buyers today who own the home they’re in, but need to make a move, so let’s talk about what it’s going to take to get rid of one home, and safely transition to the next.
Many buyers get so excited about the prospect of moving to a bigger better place, that all they can think about is their new floor plan. As an agent, I always have to come in and be the heavy. Yes, the new house is exciting, but what are we doing with the old one? For some people financing two homes at once is no problem. They can easily simultaneously list one home and buy another, with no fear of what will happen if their original residence doesn’t sell right away. Most people, however, do not have this luxury. Before they even think of buying, they need to know that they can sell.
Your best bet is to ring your mortgage broker first and find out where you stand financially. In many cases, you’ll need to use a sale of buyer’s home condition when purchasing a new home, or have a firm contract in place on your current residence before you even begin to shop for a new one.
Once you’ve decided what you’re doing for financing, you can begin to think about picking a new place. The first thing I always start with is location. You need to know where to look, before you can know what you’re looking for. First we choose inside or outside the city. Then we choose quadrants, then we choose top 5 neighbourhoods, and then top 3 neighbourhoods. Once we have it narrowed down to 3 neighbourhoods, we can begin to talk about what you’re specifically looking for in those neighbourhoods. Do you need a certain floor plan? For example, are you partial to two stories, bungalows or bi-levels? How important is a garage, a yard, and a finished basement to you?
The next step is going on a tour to see what’s out there that matches your criteria. You may see many houses in one day, so I always like to get my clients to continually put one house at the top of the pile as we go. Meaning, I always ask, “How does this house compare with the last house that you liked?” I’ve found that this helps to lower the confusion at the end of a tour.
Great houses don’t stay on the market for very long. If you loved a house that you saw on your tour, chances are that many buyers will love it too. If it matches your criteria, and you can’t live without it, write an offer; don’t wait.
It’s not always a difficult decision to buy and sell a home, but over the years I have come to believe that it’s not a difficult process when you’re using a great agent.
The Vanderveen Team
Maxwell South Star Realty
Phone: 403.253.5678 Fax: 403.592.6736