Thinking Of Selling In 2024?

If selling your home has crossed your mind, one or many of these thoughts may be something you're thinking about:

-Nervous about buying and selling at the same time?
-Are you hesitant to list your home for sale because you haven't considered where you would go if it sells before you find a new home?
-Are you searching for a home but cannot seem to find it?
-Are you worried about possibly having to move twice?

If any of these questions have crossed your mind, do not worry. These are completely normal anxieties to be having. Moving can be a huge milestone but when you are prepared and working with the right team it does not have to be scary or nerve-racking. We have seen some challenging times in the Ottawa real estate market but navigating any market is part of our expertise as a team. 

Starting to research your move and the market conditions is a key step. Planning is crucial to make sure we have all our ducks in a row. This blog will help to explain some of the strategies behind selling your home and searching for the next one. This is not one size fits all and we can always adjust a plan to fit your needs. Read on to start thinking about how to navigate this situation and reach out at any point if you have questions or want to start working on your roadmap to success. 

4 Crucial Steps to Buying and Selling at the Same Time:

Hire the Right REALTOR®: You want to be working with a professional who can be there for you through the process and understand your wants and needs. You also want to make sure that they have access to all the necessary tools to help you. Does your REALTOR® have access to all the homes for sale including homes that haven’t even been listed yet? This database is out there, and it’s important your agent has access. The Hamre Real Estate team has access to off-market and coming soon listings that not every REALTOR® can see. For some insight into our customer satisfaction, you can read through some of our testimonials here. 

Get Preapproved for a Mortgage: This is one of the first things that just about every real estate agent will tell you to do before you start your search. This is especially important when you’re buying and selling at the same time.  While going through the pre-approval process, ask your trusted mortgage professional to calculate what you can afford based on different sale prices for your current home. For instance, if you think your home could sell for $700,000, have them also calculate scenarios for $675,000 and $725,000. This will give you a clear understanding of your buying power no matter what price your home sells for. Your Hamre Real Estate Team agent will help you understand what your home is worth in current market conditions. This will allow you to be ready to strike when the right home arrives on the market. 

Get Connected to an MLS Feed:  This step is one that buyers can often forget or not know about. REALTOR.ca does not update as quickly as MLS and there can be key information on MLS that you are missing if you only search by yourself. The Hamre Real Estate Team will set you up on a personal search portal through One Home. This can be curated to match your exact tastes and requirements. It will send you notification emails the moment that something hits the market matching your criteria. As the search evolves we can narrow in on your ideal property and be prepared to visit it and make an offer. 

Be Proactive and Take Action: What we often see is people who want to dip their toe in the water and not take the full dive in. You cannot take partial steps and expect full results. Deciding whether you want to list your home or buy your next home first can depend on your financial situation and possible living arrangements. the important thing is to be prepared on both ends. You may want to list your home before buying but that still means being ready to buy when the moment arises. We will set up a roadmap that makes sense to you and benefits your circumstances to the best of our abilities. 

Regardless of which way you go, it’s crucial to actively explore homes and narrow down where you want to live. Be sure that you’re fully prepared to strike when the right house comes on the market. At the same time, be proactive and start taking all the necessary steps to list your home for sale. This for example can mean getting staging and professional photos done beforehand. Whether you’re prioritizing buying or selling first, being fully prepared on both fronts is essential!

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