Before you sell your present home, you want to be sure you can qualify for another home. Perhaps your circumstances or employment have changed, things that may affect your ability to qualify for a new loan. Meet with a reputable lender in your area, and take the steps to pre-qualify for your next home purchase.
In order to determine a pre-qualification amount, decide what you are looking for in a replacement home. Are you planning to buy an existing home, or build a new one? How much are lots going for in your preferred area? How much will construction of a new home cost? Be sure to include the cost of landscaping and interior decorating into your figures.
What is it going to cost you to move? As you determine this, include moving expenses, down payment, loan costs, inspections and insurance. When you apply for pre-approval, the lender should provide you with estimated loan costs.
How much will it cost you to clean and repair your present home as you prepare it for selling? You will want to do those things that will help attract the highest offer possible. This may require an investment of time and money.
A well-qualified real estate agent can assist you, with a current market analysis (CMA) to determine a suitable asking price for your home. Some agents may suggest an unreasonably high asking price, in order to obtain the listing, thinking that later you can be persuaded to lower the price. It is critical that you work with a real estate professional who has your best interests at heart.
Preparing yourself and your family emotionally to sell your present home can be a daunting task. In order to market your home, you need to get mentally ready to show your home to others, and to be willing to let it go when the time comes. Help your family to focus on all the positives about moving to a new home, so that they can be cooperative with the selling process. Getting a house ready to show, and keeping it presentable is a team effort. Gaining your family’s cooperation beforehand will make the job much easier.