Not sure what the best way to sell your house and buy another is? Selling a home and buying a new one can feel overwhelming, especially when trying to coordinate both transactions smoothly. Whether you’re upsizing, downsizing, or moving to a new neighborhood, timing and planning are essential to avoid double mortgages or temporary housing.

In this blog post, Colorado Springs realtor Barb Schlinker and the professionals at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss the best way to sell a house and buy another.

Key Takeaways:

• Coordinate both transactions with a professional realtor. They can help you plan the timing of your sale and purchase and streamline the transition.
• Prepare your home for sale. Improve curb appeal with decluttering, staging, and professional photos.
• Explore different financing options for your situation. For example, bridge loans and pre-approval can help align your finances with your buying goals.

What Is The Best Way to Sell My House and Buy Another?

1. Understand Your Market Conditions

Before listing your home or starting a house hunt, be sure to research market conditions in both locations. Understanding whether you’re in a buyer’s or seller’s market can help guide your timing and pricing strategy. Local Colorado Springs realtor Barb Schlinker notes,

“Market conditions can greatly impact your experience. In a seller’s market, homes may sell quickly, giving you more leverage when purchasing your next home.”

2. Get Pre-Approved for a Mortgage

Securing a pre-approval letter for your next home can make you a more attractive buyer. Pre-approval shows sellers that you’re financially prepared, which can strengthen your negotiating position.

It’s also essential for understanding your budget, especially if you’ll be carrying two mortgages briefly.

3. Prepare Your Current Home for Sale

Presenting your current home in its best light will attract more potential buyers and may lead to a faster sale. This step includes decluttering, making repairs, and staging. In addition, high-quality photos and good online listings are vital to making a strong impression. 

4. Set a Competitive Price

Pricing your home competitively is essential, especially if you’re looking to sell quickly. An experienced realtor can help analyze comparable sales and set a realistic price that aligns with your goals.

Overpricing can deter buyers, resulting in a longer time on the market and complicating your transition to the next property.

5. Consider Financing Options Like a Bridge Loan

If you need access to funds from your current home’s equity to buy your next one, a bridge loan may be worth considering. This short-term loan allows you to secure financing for the new home before selling your current property, providing peace of mind and flexibility in your timeline.

6. Explore Selling Options

Depending on your timeline, you might consider several selling options. The traditional approach of listing with a realtor is often the most effective.

However, other options like selling to iBuyers or cash buyers, could expedite the process. Just remember, quicker sales can sometimes come at a reduced price.

7. Make a Contingent Offer if Necessary

To ensure you’re not left holding two homes, you can make a contingent offer on your next home. This means your purchase depends on the sale of your current property. Many sellers are open to these terms, especially if your home is already on the market.

8. Work with Experienced Professionals

A knowledgeable realtor is essential for coordinating these transactions. They can advise you on the local market, timing, and pricing, helping you achieve a smoother transition.

Additionally, a skilled mortgage professional can help you explore financing options and provide insights on securing your next home.

9. Be Prepared for Different Scenarios

In some cases, you may need to sell before buying or vice versa. If you sell your home first, consider temporary housing options to avoid rushing into a purchase.

Conversely, if you buy first, be prepared to carry two mortgages for a short period. Schlinker adds,

“Flexibility is key in a fast-moving market like Colorado Springs.”

10. Plan Your Move

Start packing and organizing your belongings as soon as possible. Planning ahead will help you avoid last-minute stress, particularly if you need to vacate your current home on short notice. Organize a moving plan to streamline the transition between homes and make the entire experience more manageable.

Selling and buying a home in Colorado Springs simultaneously may feel challenging, but with careful planning and support from trusted professionals, you can navigate the process with ease.

Sell a Colorado Springs House Fast with Barb Schlinker 

At Your Home Sold Guaranteed Realty - Barb Has the Buyers Team, Barb Schlinker and our entire team have been in the real estate business for 27 years. We’ve helped many clients sell their houses fast and for top dollar, and we know how to avoid tough sales. This has earned us the reputation as the best realtor in Colorado Springs.

Plus, our Colorado Springs real estate agency offers a unique seller guarantee that protects your interests.

To learn more about working with us to sell a house in Colorado Springs or discuss short sales, call 719-301-1802 or fill out the form on this page. Take the first step to sell your house fast today!

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!