We’ve said over and over that you’re all unique and we will make a plan to fit your situation. This is true. It’s also true that (most of the time) we highly discourage anyone from selling first when the market is very aggressive (and you’re not moving out of town). The big risk is that after you sell you will be under immense pressure to buy. One, the right home needs to come available within your budget. Two, you have to be the successful offer when there might be 8 other offers and 3 of them are feeling just as aggressive as you. Unfortunately, you may lose a few times and quickly 4 weeks have passed since you sold. There are only 4 weeks left until you move. AND! As the weeks go by prices move upward.
The instinct to sell first comes from a desire to know how much money we have to work with. We want to be able to make the highest offer possible. The risk, however, is that your buying power quickly becomes less and less as weeks (or maybe months) go by after you sell. Prices could go up by $100,000.
Buy first and you know with certainty that you’ve found the home you want. The super-short version of how this plays out is that you use an active market to your advantage. Immediately after you buy, price your home attractively and the offers should come without delay. The risk here is that you need to budget for a conservative sale price, just in case you don’t get that best-case scenario. This plan puts a little less money on the table at the beginning. You lose full control over the financial planning, and you gain control of finding and acquiring the right home at a price you’ve set within budget.
There are more detailed steps involved with executing this the best way. We’re here to help when it’s time for you to map out a plan. Contact Matt, Jeremy or Sara to build a detailed strategy for success.