Upsizing Homes: When Trading Up To A Larger Home Here Are Six Mistakes To Avoid
You already own a own home and want to upsize to a larger and or more expensive home. Unlike the experience of buying a first home, when looking to move-up, and you already own a home, there are certain factors that can complicate the situation. Before you list your home for sale it’s very important to consider these issues presented below.
You will want to consider financing issues as well as determine how to sell a home at exactly the right time to avoid either the financial burden of either owning two homes or having no place to live during the gap between closings. Timing is critical and with Mike Donia as your real estate agent you will have access to his 25+ years of proven successes: skills, experience, infrastructure and network of real estate resources.
Six Strategies To Upsizing Your Home
When moving to a larger home many homeowners make the mistakes about to be outlined. Mike Donia has the knowledge and skills and can help you overcome them and thus you will be more educated and in a better position to make informed choices before you put your existing home for sale on the market.
Rose-colored glasses: In Pursuit Of The “Dream Home”
It’s OK to dream of improving our lifestyle and moving to a larger home. The challenge of course is match the heart with the bank account balance. You see a home that is exactly what you want and then you find out it has been sold or that it is more than you can afford or willing to pay. When hunting for homes its good to have the Mike Donia Difference working for you. Mike will encourage you not to get caught in this hit or miss strategy and offers you an easier more efficient way of finding that perfect dream home, being that a house, mansion, estate, condo, property – any type of real estate both residential and commercial: Mike is skilled at being a licenced real estate agent and as such has the skills and resources to deliver successful results. By creating a Home Buyer Profile Mike takes the guesswork out of real estate-hunting (house-hunting, condo hunting, mansion-…, estate-…, etc.) By having Mike look after all your buying and selling real estate transactions you can find that home of your dreams that matches your budget. Mike will cross-match your criteria with ALL available homes on the market and if desired supply you with information on an ongoing basis. With this perceptional thinking Mike helps homeowners take off their rose-colored glasses and, affordably, move into the home of their dreams.
Don’t Fail To Make The Necessary Home Improvements
For the most part cosmetic home improvements and fix-ups to get ready for staging don’t necessarily have to be expensive. You’ll want to get the best price for your home so you will want to enhance it in a prospective buyer’s eyes: Perhaps a fresh coat of paint or maybe just paint the trim, gluing a section of the wallpaper that may have become loose. With Mike as your Real Estate Agent you get his keen eye and attention to detail. Even if you do have to make a minor investment that requires a cash outlay, the propensity is that it will often come back to you tenfold in the price you are able to get when you sell. It is critical that these home improvements be made before the home is listed on the market. If cash is tight, investigate an equity loan that you can repay on closing. Mike also has a network of tradespeople who represent his level of excellence well.
Make Certain You Sell Your Home First Before Buying The Next Home
Of course it makes sense to sell before you buy owing to that you don’t necessarily want to be carrying two homes at once thus you should plan to SELL BEFORE YOU BUY. Don’t be fooled by gimmicks where agents guarantee to buy your house at artificially low prices. You will want Donia’s Marketing savvy to maximize the sale of your house so that you have the freedom to buy the next home with the maximum amount earned from your home. You do not want the disadvantage of having to negotiate feeling pressured to accept an offer that is below-market value because you have to meet a purchase deadline. When you have sold your home prior to buying a new home you can make this new purchase with no strings attached.
In case a tempting offer is made on your home but you haven’t found your next home, a contingency clause in the sale contract could be added that would give you a reasonable time to find a home to buy.
Should you be in a slow real estate market and the home is not selling as quickly as you would like it to another alternative is to rent your home and putting it up on the market later. This could be especially applicable if it were selling a smaller, starter home. As your Real Estate Agent Mike Donia would, should the latter option apply, investigate the tax rules or better still he may already have the home buyer waiting in the wings for a property matching exactly that home which you are selling.
You Definitely Want To Have A Pre-approved Mortgage
A very simple process that you will want to take advantage of. It makes the buying and selling process so much smoother a transaction. Many homeowners don’t take advantage of having a Pre-approved Mortgage . There is no cost nor is there any obligation and yet being pre-approved gives you a significant advantage when you putting an offer on the home you want to purchase simply because you know exactly how much house you can afford, and you already have the green light from your lending institution. With a pre-approved mortgage, your offer will be viewed far more favorably by a seller – sometimes even if it’s a little lower than another offer that’s contingent on financing.
Mike understands Mortgages very well having been a Mortgage Specialist and Bank Manager. Be certain to complete this very important step in buying real estate.
Beware of the Catch In The Real Estate Catch 22: Yes there is one within one and Mike Donia can help that you won’t get caught in it
The big question – Buy first OR Sell First. In the Above points the advice was presented to sell first and yet the some Real Estate Brokerages have found a way to eliminate this dilemma altogether. Some agents offer a Guaranteed Sale Trade-Up Program that actually takes the problem away from you entirely by guaranteeing the sale of your present home before you take possession of your next one. If you find a home you wish to purchase and have not sold your current home yet, they will buy your home from you themselves so you can make your move free of stress and worry.
The catch in this is that you have to ask whose getting the best deal, wouldn’t it be better to utilise the sales process effectively and sell the property within the supply and demand of the market. A guarantee such as they are touting has to cost you something. There is an age old adage: If it is too good to be true it probably is. Should you be tempted to enlist in such a program we encourage you to call Mike Donia and discover that what you really need is the Donia Difference. 25 years of proven results-oriented Real Estate experience. A Hall Of Fame Recipient FOR REAL ESTATE SALES with the #1 Real Estate Company in the world: REMAX.
Coordinating The Closings
To coordinate two major transactions together at one time with numerous people involved (lawyers, mortgage experts, loan officers, appraisers, title company representatives, home inspectors or pest inspectors) is quite the task and with it being such a big ticket item you don’t want any mix-ups and miscommunication. Mike Donia has extensive experience and is skilled to help you avoid the logistical nightmare this coordination will involve.
Mike Donia is the professional real estate agent that professionals recommend.
Contact Mike: Email: email@example.com
Tel: 905.456.3232 or 416 233- 9000