Here’s the game plan for if you need to both sell and buy in this market.
So you want to sell your home in the current red-hot real estate market, but you’re unsure where to move next. I speak to homeowners nearly every day who would love to take advantage of these high prices in our Austin market, but due to extremely low inventory, they’re worried about finding their next house.
The first thing to do is assess whether you can purchase your next property before selling your current one. There are two main ways to do this; one, you can find out whether you qualify for a bridge loan. Or two, you can use the Homeward Program; they purchase the home you want, then after you sell your current house, you close on the new home. This enables you to make a cash offer, which is more appealing to sellers.
"Many deals are happening off-market right now."
Second, you should work with your real estate agent to find off-market properties, which expands your home options and lowers the amount of competition you’re up against when making offers. Many deals are happening off-market right now.
The third thing you can do is look for new construction opportunities, which could include buying land or a lot, then securing a custom builder to build your dream house. You can also go directly to a builder who owns land or lots already and go through the new-build process. Your agent should have great relationships with builders to help you do this successfully.
If you have questions about trying to make your next move in today’s market or anything else real estate-related, please reach out to me via phone or email. I would love to help you.