Discover how to buy your next home without the stress of moving twice.
Are you wondering how you can move into your new home before selling your current one? Don’t worry—you’re not alone. Many homeowners find themselves in the same tricky situation. That’s why today, we will share the two best strategies to make a seamless transition from your current home to your next one without having to move twice:
- Bridge financing. This option allows you to purchase your new home with a short-term loan, usually for about one year, without having to sell your current home first. If you have around a 20% down payment, this is a viable route. After you’ve moved into your new home, you can then sell your existing property. Once it’s sold, you can refinance the short-term loan into a longer-term one that suits your needs. This method gives you the freedom to move without the pressure of coordinating two sales simultaneously.
- Home sale contingency. This strategy is successful when homeowners are fully prepared to list their current property immediately. By getting everything ready upfront, you can place your home on the market within 24 hours of finding your new home. If you aggressively price your current home to sell within 14 days, you can align both transactions to close around the same time. This method may involve more stress, but it also minimizes out-of-pocket expenses and is a great option for those wanting to avoid bridge loans.
Both strategies require preparation and careful planning, but choosing the right one depends on your financial situation, market conditions, and risk tolerance. If you’re ready to make a move and want to discuss the best strategy for your specific needs, reach out to us today to schedule a consultation. Just call 858-229-6063 or email sean@mysddreamhome.com. We look forward to hearing from you!
