3 Handy Tips That Will Prevent Serious Stress when Buying and Selling a Home at the Same Time

3 Handy Tips That Will Prevent Serious Stress when Buying and Selling a Home at the Same TimeIf you’re in the process of simultaneously buying and selling a home, you may be in for the most stressful experience of your life. One UK-based real estate survey of over two thousand people found that buying and selling a house is more stressful than divorce, bankruptcy, a death in the family, becoming a parent for the first time, and even planning a wedding!

It’s not easy, but staying calm will help you to plan for your upcoming home purchase and sale and make the process easier. So how can you avoid the stress? Here are three strategies that will keep you calm, no matter what may happen.

Have A Thorough Plan In Place…

Much of the stress that you’ll experience will probably be the result of poor planning. You may feel stressed if you don’t have enough time to move or if you have to pay mortgages on two homes because your old home isn’t selling fast enough.

Before you get too far into the buying and selling process, talk with a real estate agent and ensure you have a solid plan in place for how you’ll manage buying and selling at the same time. Leave a time and expense buffer for unexpected complications – even if nothing goes wrong, it’s still nice to know you have some room to work with.

…But Be Ready To Improvise If Things Go Sideways

There are a number of ways that buying and selling at the same time might result in complications. Poor timing might mean you need to move out before you have a home to move into, or it might mean you don’t have the money for your new home if your old home hasn’t sold. Be prepared to rent a hotel room, take out a short-term loan, or move your belongings into storage if the sale doesn’t go according to plan.

Talk Out Your Problems With Loved Ones

In times of stress, it’s helpful to turn to friends and family for a helping hand. Studies have shown that having a strong social support network can mitigate the effects of stress, and even the Mayo Clinic suggests reaching out to loved ones when you feel overwhelmed. Don’t be afraid to ask your friends for emotional support, and whenever you have an opportunity to socialize, take it – you’ll find it easier to handle stress after a fun night out with friends.

Buying and selling a home at the same time is bound to be stressful, but an experienced real estate agent can minimize the agony. Call a real estate agent near you to learn how you can successfully buy and sell a home at the same time.

Does Your Home Have What Buyers Are Interested In?

Does Your Home Have What Buyers Are Interested In?If you are looking to sell a home in the current market, then you know that the COVID-19 pandemic has changed the way many people look at the world and this includes their home.

Therefore, buyers need to think about whether or not their homes have what buyers are looking for. While this is a hot market and sellers could quickly end up with multiple offers for their homes, they are more likely to get a higher offer if their home has one of the key features that buyers in today’s market will love.

A Home Office

Without a doubt, this is one of the most popular features today. With the pandemic changing the way people work, workers are spending more time at home than ever before. Everyone is looking for a way to be productive at home and this means having a home office. A home office is essential because it gives those working remotely with a place where they can seclude themselves in their own home and be productive. At the same time, if there is an emergency, they can still respond quickly. Buyers today are looking for a home office.

More Space To Accommodate

Lots of families are looking for ways to accommodate their loved ones and this means more space. For example, many schools are still operating virtually. This means that the kids are at home during the day and will need their space. In addition, elderly individuals are particularly vulnerable in today’s environment, so many families have welcomed their elderly family members as well. Homes with the space to accommodate these desires are going to be more popular.

Powerful Internet Access

While this is something that can be adjusted if necessary, powerful internet access is important. Think about everyone who is going to be putting a drain on the home’s internet connection. People are streaming TV more than ever. Kids need to be able to pay attention to their lectures. Those working from home are going to have video conferences. Having strong internet access is a must.

Sell A Home With These Features

Anyone who is looking to get the most for their home should keep these features in mind. They can drive up a home’s value in the current market.  

You May Need More Than You Think To Buy Your First Home

You May Need More Than You Think To Buy Your First HomeThose who are thinking about buying their first home soon are likely saving up for a down payment. This can be a challenging process because, for many people, this is the largest amount of money they have ever saved in their lives. Sadly, the amount that people might need to buy their first home is more than they think.

There are numerous other costs that go along with buying and maintaining a home. As a result, people need to save up more than they think. Even for starter homes that are usually less expensive than family homes, there are numerous costs that need to be included.

Think about a home that is $250,000. A 20 percent down payment is $50,000. That is already a lot of money. Even for those who might try to get away with a 10 percent down payment, that is still $25,000. That is enough money to buy a very nice car. Where do these other expenses come from?

Buying A Home Has Other Costs

There are other costs that go along with buying a home. For example, there are closing costs that accompany this process. This could be thousands of dollars. In addition, there might be points due at signing and origination fees that accompany the process of taking out a loan. Of course, people could avoid these costs by buying the house in cash; however, for most people, this is simply not realistic.

Furnishing A New Home

On top of this, there are costs that come with furnishing a new home. Think about how much money coffee tables, dressers, desks, beds, and wardrobes cost. This might also include new kitchen appliances, a washer, a dryer, and more. All of these need to be included when trying to figure out the cost of a new home.

Take Advantage Of Low Mortgage Rates

It is possible for people to save up enough money to buy their first home. They simply need to keep a few tips in mind. First, take advantage of low mortgage rates. Use this to avoid PMI, origination fees, and points. Then, find ways to reduce moving costs. Bring old furniture to the new home and try to make sure that all appliances are up to date to avoid repair bills. This will make a new home more affordable.