Hey everybody, Tom Townsend with Townsend Realty Group. Hey, I’m coming to you, this is for everybody that’s thinking about selling and keep asking yourself, ” Do I need to sell my house before buying a new one?” The only problem is you’re just a little bit nervous about being homeless. Which I totally get, and that’s realistic.
So what’s going on right now, let me try and clear the air a little bit and explain to you why you’re going to want to put your house on the market before you actually go out and find a house. I’m going to kind of explain that to you. Obviously we’ve got most of all our experiences right here in Cherokee County and Cobb County, Georgia, and the surrounding North Georgia market area. So I’m really speaking specifically to this area. Right now, we have very little inventory on the market itself and a large buyer pool. Now that changes the course with different price points and so on and so forth. But in most part, you know, this is a seller’s market. So let me tell you one of the reasons why you want to have at least your home on the market, if not already under contract when you go out and look for a property. So when you go out and look for a home and you already have your house either on the market or have a contract on it, you are in a much more powerful position to be able to negotiate on a purchase. Just think of it as if you were the seller of that home. Would you want the buyer to be contingent on a sale of a home that’s not even listed yet? Probably not, you’re going to be much more hesitant about negotiating with them and giving anything back to those buyers at that point. You’re really going to kind of probably stick to your guns with your pricing and any other terms you’re negotiating.
So, you know, flip that around. When you’re buying and you already have your house under contract, you’re in a great position when you already have your house on the market when you go buy. The other thing is, is when you have your house listed for sale, and let’s say you go out and you find a house that you love… it’s your dream house, you love it, you’re absolutely head over heels with it. You’re going to do anything to get into that house. You’re not going to lose that house, right? Because it’s contingent on the sale of your old house now. So how hard are you really going to negotiate with a new buyer of your old house, when you got your eyes on that dream house and you’re already setting on it? Probably not very hard. You’re going to do anything to make sure that that sale goes through on your existing house.
Now, those may sound like little nuances, but these kinds of things, they add up to thousands and thousands of dollars. So I just want you to understand that you’re really losing out a lot of leverage on the buy-side and on the sell-side when you actually flip it around. So if you’re thinking about moving and transitioning from one home to the next, get with an agent, talk to them to make sure, you’re comfortable and know that you’re not going to be homeless. We’re going to make sure everybody’s got a home to sleep in, but make sure that you at least have your home on the market before you go out and find your next dream home. Preferably get that under contract and then go out and find your dream home. Does it put a little bit more pressure on you? Yeah, it does, but hey, that’s what agents are there to do. They’re there to help you, support you, and guide you through that whole process.
I hope this answered your question of, “Do I need to sell my house before buying a new one?”. We’re right here in Cherokee County. Hopefully, that helped answer a lot of questions about, should I buy my house first before I sell it? Or how do I actually maneuver through that? So anyway, hopefully, that helped out. Make sure you subscribe, give me a thumbs up if you liked the video and hope everybody’s having a great day, thank you.