6 Tips for Buying and Selling a Home at the Same Time

6 Tips for Buying and Selling a Home at the Same Time

Is your current home too big or too small for your needs? Do you need to purchase a new home to accommodate your lifestyle? Since you will be selling your home while buying a new piece of paradise, it can be helpful to work with an experienced Marina District realtor who will guide you through the intricacies of both real estate transactions. From determining the market value of your home for sale to utilizing effective negotiation strategies for your prospective home, your Marina District real estate agent can help you go from one house to the other with very little stress. Read on for guidance from San Francisco real estate expert Heidi Rossi to make the process as painless as possible.

1. Determine how you will finance your new home

When you’re hoping to move and sell your home simultaneously, you’ll need to prioritize which to complete first, but it’s also important to be flexible. The key is to be prepared for either possibility depending on how quickly you find your new property. If you find your perfect new home sooner than expected, you will find yourself in a situation in which you will have to pay for two mortgages simultaneously for anywhere from a few days to several months. You can consider applying for a home equity loan to cover the extra costs. 
However, if you sell your home first, you can use the equity that you have to cover all or part of the costs of the new home. However, the downside is that you will be without a home for what could be an extended amount of time. You may want to consider adding a contingency clause that the sale will only proceed upon the successful closing of your old home. Another option is to rent month-to-month or do a leaseback if the buyers are open to this idea. Consult your Marina District real estate agent for guidance, as they can determine the best option after analyzing your home’s value, the amount of equity you have, and your financial situation. 

2. Inspect your home for sale

Before listing your home, it’s a good idea to perform a pre-listing inspection. Hire a qualified home inspector with experience working with Marina District luxury homes. The inspector will examine every home component, such as the HVAC, security, roof, and foundation. In addition, the home inspector will look for evidence of possible mold, mildew, water, fire damage, and pest infestation. They will then produce a comprehensive home inspection report with their findings. You can review the home inspection report with your real estate agent to determine what needs to be repaired and renovated before you begin staging your home.

3. Prepare your home for staging

Ideally, you want to buy and sell your home with very little time in between. Considering that a staged home will spend less time on the market than an unstaged home, you need to stage each space so that you can sell the property quickly and for top dollar. 

Brand your luxury home

The key to staging is to tell a story. Consider the best features of your home. For example, does your condo have floor-to-ceiling windows with a stunning view of the city skyline? Is it close to shopping, dining, and other attractions? Consider also the amenities offered in your home and community, such as swimming pools, tennis courts, golf facilities, a home office space, or a private deck. You can then focus on these features in staging and marketing your home to a targeted group of buyers.

Hire a professional stager

It will certainly help to call in an expert who can guide you in creating a fabulous staged home that will sell quickly. A professional stager will aid you in decluttering and depersonalizing so you can utilize every space most effectively. From the main living spaces to the curb appeal, your professional stager will recommend painting, landscaping, furniture arrangement, and decor choices. Your home will ultimately look more spacious and more functional, upping the scale of its appeal for more buyers.

4. Work with a professional photographer

After staging your home, you need to hire a professional photographer to take captivating photos of your property. An online listing with high-quality photographs will draw the attention of online home seekers and entice potential buyers to make an appointment for an in-person tour. 
You want to choose the photos that truly capture the beauty and sophisticated elegance of your home. Consider adding aerial shots so home buyers can gauge the proximity to major attractions such as the bay front, the infamous Palace of Fine Arts, and the Golden Gate Bridge. 

5. Create a list of must-haves

One benefit to buying while selling your home is that you will most likely know what you want in your new space. Consider which amenities you like the most in your current property and which ones you could compromise on. If you are upsizing, consider how much space you require to accommodate your growing family. Consider also your and your family’s needs when researching neighborhoods, schools, and commute time in determining whether the new home is the right fit.

6. Be patient

Throughout the process, you might feel pressure to buy and sell your home as quickly as possible. While your Marina District real estate agent will do all in their power to make that happen, it is crucial to understand that the real estate process can sometimes be unpredictable and complicated. Whether you are waiting for the pre-approval on your home equity loan or negotiating offers on your home, you must be patient. Finding a new home and selling your old home is exciting, but it does take time. Try not to rush the process.

Buying and selling a home at the same time can be complicated and stressful. You’ll want to work with an exceptional agent who has plenty of experience living and working in the local area. When you’re ready to get a head start on your real estate journey, consult local agent Heidi Rossi for the guidance you can count on. Thanks to her keen sense of organization and excellent communication skills, Heidi can sell your home quickly and for top dollar and find the perfect home in the Marina District with all your must-haves and want-to-haves!

Work With Heidi

Heidi is a skilled and knowledgeable Agent, experienced in handling the purchase or sale of San Francisco properties. She is committed to handling every detail of your transaction and will see you through the entire process with personalized service and professional results. Deeply committed to her clients, Heidi is diligent in representing them and their best interests.

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