Author Topic: How to move when homes take a long time to sell  (Read 739 times)

Lago

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How to move when homes take a long time to sell
« on: August 17, 2018, 03:43:28 PM »
We need to move to a new house to get a better public school next year, but I'm not sure if we should list our old house first and then during the period that it is under contract, rush to find a new house, or if we should find the new house and then list the old house and hope it sells fast.

We have 3 preschool aged kids, so we don't want to be homeless for long! My husband also works from home, so it would be hard to not have a home, and storage for our belongings would be a pain.

On the other hand, homes in our area stay on the market an average of 172 days! We have the money to buy a new house without selling the old house, but ideally I don't want to own 2 houses for long. Also we could buy the new house cash if we sold the old house, but would have to take out a mortgage if we owned 2 homes. What should we do: look for a new house now, or list now?

JGS1980

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Re: How to move when homes take a long time to sell
« Reply #1 on: August 17, 2018, 04:26:51 PM »
Puy your house up for sale now. Price it to sell.

After it is under contract, rent a house/large apartment month to month until you find the new house you want to buy in the desired school district.

Pain in the butt, but it avoids you caring two mortgages.

Best of luck,

JGS

marty998

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Re: How to move when homes take a long time to sell
« Reply #2 on: August 17, 2018, 08:44:48 PM »
If it takes 172 days to sell a house it means the expectations of sellers are not in the ballpark of the reality of demand.

Everything has a quick buyer at the right price.

Lago

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Re: How to move when homes take a long time to sell
« Reply #3 on: August 22, 2018, 01:33:19 PM »
Thank you for the replies! Yes, I do think listing our house first is the right thing to do.