Buying and selling a home simultaneously can feel overwhelming, but with the right strategy, it can be a smooth and stress-free process. If you're upgrading to a new home while selling your current one, here’s how to navigate financing, listing preparation, and timing to ensure everything goes as seamlessly as possible.
Step 1: Understand Your Financing Options
In an ideal scenario, your home sells quickly, allowing you to buy your next home without financial stress. However, the real estate market doesn't always work in perfect harmony.
If you're financially able, the best approach is to have your home ready to list so that when you find the perfect next home, you can put your current home on the market immediately. If you need proceeds from your sale to fund your next purchase, a bridge loan may be a great option. A bridge loan is a short-term financing tool that allows you to borrow money for a down payment on your new home while waiting for your current home to sell. These loans typically last between six and twelve months, and while they come with interest costs, they allow you to act quickly in a competitive market. We work with trusted lenders who specialize in bridge loan products and can help you determine if this is the right fit for your situation.
Step 2: Define Your Home Buying Goals
Before diving into the home search, we always start with a buyer consultation to understand your goals and motivations for moving. Many homeowners in Columbus upgrade to a new home because:
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They need more space for a growing family.
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They want to move into a better school district.
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They need a home office due to returning to in-person work.
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They’re ready for a larger yard or better amenities.
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They’ve outgrown the compromises made when purchasing their first home.
As homeowners move into their second or third home, they often have a clearer vision of their must-haves, such as multiple full bathrooms, a two-car garage, or a more functional layout. Understanding these priorities helps streamline the search process and ensures a successful transition.
Step 3: Listing Preparation
If you plan to sell your home before buying, it’s crucial to prepare it properly. We start with a listing consultation, where we walk through your home, provide recommendations, and help you understand how much you could net from the sale. Lenders trust experienced real estate agents because we provide realistic pricing strategies, ensuring you're well-positioned for your next purchase.
A common question is whether to renovate before selling. Our advice? Renovate for yourself, not just for resale.While updates can improve value, not all renovations provide a high return on investment. Instead of doing a full kitchen remodel before selling, consider simple, high-impact improvements like:
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A fresh coat of neutral paint.
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Professional deep cleaning.
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Landscaping and curb appeal enhancements.
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Updating light fixtures or cabinet hardware.
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Replacing worn carpets or refinishing hardwood floors.
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Organizing and decluttering closets and storage spaces.
Step 4: Pricing and Timing the Market
One of the biggest mistakes sellers make is relying on automated home value estimates like Zillow’s Zestimate. These tools don’t account for interior upgrades, property condition, or true market demand. As your real estate team, we provide a detailed market analysis based on comparable sales, property condition, and buyer trends in Columbus to determine the most accurate price for your home.
In today’s market, with mortgage rates higher than in recent years, buyers are prioritizing move-in-ready homes. The more turn-key your property is, the more attractive it will be to potential buyers, leading to a quicker sale at a higher price.
Step 5: Managing the Transition
One of the biggest concerns for homeowners is how to coordinate moving from one home to another. The key is understanding your financing situation and working out a possession strategy that aligns with both transactions. Options include:
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Delayed possession: Negotiating extra time in your current home after closing so you can move into your new home without pressure.
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Closing on your new home first: If you have a bridge loan or alternative financing, you can purchase your next home first and transition on your own timeline.
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Contingent offers: If you need the proceeds from your current home to buy the next one, your offer will be contingent on the sale, meaning timing is crucial.
We help navigate these logistics, ensuring a stress-free experience for you and your family.
Step 6: Staging for Success
Staging plays a crucial role in selling your home quickly and for top dollar. We recommend:
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Removing personal items and excess furniture to create a spacious feel.
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Keeping the home in staged condition until after inspections and appraisals are complete.
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Enhancing the first impression with a pristine exterior and inviting entryway.
Homes in Columbus typically go under contract in 2-3 weeks on average, but well-staged and properly priced homes can sell even faster. The biggest reasons contracts fall through are inspection issues, appraisal challenges, or buyer financing problems, which we proactively address to keep your transaction on track.
Step 7: Lean on Your Real Estate Team
Buying and selling a home at the same time may seem overwhelming, but that’s exactly what we’re here for. Most people buy or sell a home only a few times in their lives, while we do this every day. Our job is to guide you through each step, handle the moving pieces, and ensure a smooth transition.
With us, you’ll always have two full-time agents working for you—ensuring constant availability, expert guidance, and a seamless buying and selling experience. If you’re ready to explore your options, reach out for a consultation, and let’s make your next move stress-free!
