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Hey {{contact.first_name}}, When you’re both selling and buying, the money side has two halves that affect each other. You may already have a rough number in mind for your home, or you may not have looked yet. Either way, it helps to think about the two together. The price of the next home is only part of it. What you take away from the sale matters too. A good starting point is estimating what remains after sale costs and paying off your current loan, since that helps frame the down payment on your next home. It’s also worth talking with a lender about the purchase with the expected sale in mind, and leaving room in your plan for moving costs and any stretch where you carry both homes. On a call, we can lay the sale and the purchase side by side. We’ll estimate what you might take from the sale, sketch a comfortable range for the next home, and note what to ask a lender, so you can stop guessing how the two fit together. If now isn’t the right time, tell me, and I’ll check back in a few months. Otherwise, I’d be glad to walk through both sides with you.
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Derrick Krueger is a real estate agent affiliated with Compass. Compass is a licensed real estate broker and abides by equal housing opportunity laws. |
