If you're a homeowner planning to move, you're probably wondering what the process is going to look like and what you should tackle first:
Is it better to start by finding your next home?
Or should you sell your current house before you go out looking?
Ultimately, what’s right for you depends on a lot of factors. And that’s where an agent’s experience can really help make your next step clear.
They know your local market, the latest trends, and what’s working for other homeowners right now. And they’ll be able to make a recommendation based on their expertise and your needs.
But here’s a little bit of a sneak peek. In many cases today, getting your current home on the market first can put you in a better spot. Here’s why that order tends to work best (and how an agent can help).
The Advantages of Selling First
1. You’ll Unlock Your Home Equity
Selling your current home before you try to buy your next one allows you to access the equity you've built up – and based on home price appreciation over the past few years, that’s no small number. Data from Cotality (formerly CoreLogic) shows the average homeowner is sitting on $302K in equity today.
And once you sell, you can use that equity to pay for the down payment on your next house (and maybe even more). You could even have enough to buy your next house in cash. That’s a big deal, and it could make your next move a whole lot easier on your wallet.
2. You Won't (click "Learn More" to finish the article)...
