With the median sale price in our area up 13.9% year to date, many homeowners want to capitalize on the market by selling. When you need to buy a new home at the same time, that’s where things can get tricky.
Sellers are regularly seeing multiple offers, few to no contingencies, and quick sales. Most people, especially families with kids, don’t want to move twice. If you have the vision and motivation to buy and sell in this market, we can make it happen. These are the questions you need to consider:
1. Can you afford to buy without selling your current home first?
2. Can you borrow against the equity in your current home? The average home in Wisconsin has gained $19,000 in equity over the past year.
3. Can you sell your current property first and find temporary housing? A short-term rental, family or friend, or short-term hotel are all options.
4. Can you sell first and negotiate a delayed closing or rent-back? This allows you to get the proceeds from your home sale to buy your next home without having to move twice.
5. Can you list your home subject to finding suitable housing? This is something we’re starting to see more and more in this market.
The reality is that buyers are more flexible than they used to be, but we don’t know how long that will last or when a market shift might occur. If you have any questions for us or are looking to buy or sell in the near future, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.