Buying and selling a house in San Diego at the same time can be a difficult process to pull off but not impossible. The dreaded property chain may wreak havoc and catch you off guard at any moment. However, buying and selling a home simultaneously isn’t a rare occurrence. Plenty of people do it! Of course, in an ideal world, you’d sell your house, release any built-up equity to utilize for a down payment, and then find your new dream home. In real life, things rarely go in that order. If you attempt to pull this off, there will undoubtedly be some overlap. That’s why, in this article, we will help you navigate buying and selling your home at the same time. So, stick around to find out some of our best tips for dealing with this situation.
Get A Home Valuation
The first step you need to take if you’re considering buying and selling your home at the same time is to have your property valued. Before you begin making arrangements to purchase a new house in San Diego, you must first determine the value of your current residence. To get a good understanding of your property value, you should call the local Realtor in your neighborhood and ask them to give you a home valuation.
Evaluate The Local Housing Market
Moreover, you should also evaluate the local housing market before you start. You’ll need to adjust your timing if you’re selling in one market and purchasing in another. Depending on the local real estate market, the time it takes to buy and sell might vary substantially. For example, according to local some real estate experts, the best time to sell your home in San Diego is in early April. This holds true in some parts of the County. Not as much in the metro neighborhoods of San Diego. On the other hand, the lowest mortgage rates for those looking to buy a house in San Diego are usually in December. However, this doesn’t mean you can’t buy or sell a home in San Diego during other months of the year if you feel like you’re ready to make that change.
Prepare Your Current Home
If you’ve lived in your current home for a long time, you probably have no idea how much excess stuff you’ve accumulated over the years. So, take this opportunity to declutter and toss away everything you don’t want to take with you. Even if you’re weeks or months away from listing your home, it pays off to start getting ready in advance. For example, some people take this preparation phase to the next level by renovating parts of their house before listing it. While it’s debatable whether you should renovate your home before you sell, it’s always a good idea to make at least some minor adjustments.
Make a thorough inspection of the house for any significant flaws. Fix that hole in the wall. Repaint a room that has been painted in a bright hue with a neutral tone. This is part of the staging process and is a very important part of making your home more appealing to potential buyers.
Hire A Real Estate Agent
While you may think you can handle both buying and selling your home at the same time all by yourself, it may not be a good decision to do so. Sure, you may be able to, but you are most likely going to leave a lot of money on the table, you may not make it to closing and your stress level will be through the roof by the end of the transactions. That’s why it’s best to contact a professional who can help you sell your current home AND find your dream home. A real estate agent familiar with the neighborhood and market will price the house correctly so that it does not go unsold for weeks on end. They will also let you know if the home you’re looking at is overpriced based on current and past data. Generally speaking, hiring a real estate agent can help you save a lot of time and effort.
Start House Hunting
Think of all the attributes you want your new home to have and write them down. Make a list, and don’t forget to include the things you want to have in the neighborhood. For example, if you have kids, you probably want to have a good school nearby, along with parks and playgrounds where they can play. Or, if you’re a young professional, you might be looking for a neighborhood with a great nightlife that’s also close to your office. In that case, be sure to have your real estate agent schedule viewings in all the best neighborhoods for millennials in San Diego.
Think Of Temporary Living Solutions
If you end up selling your home before you buy a new house in San Diego, you need to figure out a temporary housing situation. Your best option is probably to rent an apartment where you can live until you sign the papers for your new home. The biggest problem with this is that you’ll have to move twice. You will either live out of boxes for some time, or you’ll have to go through the trouble of packing and unpacking and then packing everything again. However, many would still prefer that over picking a home that’s not right for you simply to speed up the process.
When it comes to moving and packing, there are a few ways you can make moving two times in a row more simple. You should start by decluttering before you pack. That means you should get rid of absolutely everything you don’t need. Throw it away, donate it, or sell it; just don’t keep it if you don’t use it. The fewer belongings you own, the less stuff you need to pack and move. Then, you should approach packing strategically. For example, if you plan to move in the summer, you can pack all your winter clothes together so that you don’t have to unpack them until you move to your new home. Finally, by picking out sturdy boxes and labeling all your stuff, you can prevent any potential mishaps or mixups.
If you’re thinking of buying and selling a home in San Diego at the same time, you will first need a lot of patience. You will also need a great real estate agent to help you navigate this process. If you’re staying in the same city, work with one real estate agent. They will help you list your home and price it correctly while also helping you find your dream home.
Contact us at 619-736-7003 and let us help you with the buying and or selling of your home in San Diego.