Should You Sell Your Home Before You Buy A Knoxville Home?
Should you sell your West Knoxville home before you buy? Or, should you buy a West Knoxville home before your sell?
Depending on your financial situation, this may or may not be an option. But, for those buyers who do have the flexibility before they buy they sell, they may find themselves faced with a tough situation.
In this post, we’ll help walk you through how to determine if you should sell your West Knoxville home before you buy. The are many pros and cons to both scenarios, you’ll just want to make sure the decision makes the right sense for you.
When You Sell Before You Buy
Selling your Knoxville home before you buy can be an appealing option for many people. It can be nice to know that your home is officially sold and you can move on before you start looking to buy a home. This can be why many sellers decide to sell before they buy a home.
When you decide to sell first, you square away one home before moving onto another. This can allow for more financial certainty. You know that you won’t be stuck with two mortgage payments for long and that can allow for more financial stability.
The downfall of selling before you buy is that you will need to find a home quickly once your home sells. For some buyers, it can be hard to find the right house in just a matter of weeks or days. For buyers who are picky, the uncertainty of not having a ton of time to buy a home can be nerve-wracking. You either will need to find a home quickly or decide to temporarily live some place until you do.
When You Buy Before You Sell
There can be many perks to buying a home before you sell. When you’re able to find a home before you sell, you can take your time to find the right home. This can be appealing for many reasons. You won’t feel like you’re under pressure to find the right home, which can be appealing to many buyers.
Buying a home before you sell can also allow you to fully move out of a house before you sell. If you’re planning on painting or doing some renovations, it can help to know you don’t have to be living in the home while your renovations are finished. It can also be nice to not have to deal with showings.
The one downfall of buying before you sell is that you may still be stuck with a mortgage payment or the cost of owning two houses. This can be the main reason why not every buyer decides to buy before they sell. Being stuck with two mortgage payments and two utility bills can be more than many buyers want to deal with.
Which is Best For You?
The decision to sell your West Knoxville home before you buy is a largely personal decision. You’ll have to determine which option works best for you. When you sell first, you’re able to have more certainty about the sale of your home. But, when you buy first, you can give yourself more time to find a home.
You’ll just need to weigh which options work best for you. There is no right or wrong way to do it. It’s just best you consider all options.
Are you interested in buying a West Knoxville home for sale? If so, please do not hesitate to let us know. Rick can be contacted at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Kati can be contacted at 865-696-1888 or via email at Kati@KnoxvilleHomeTeam.Com. Also, be sure to check out our West Knoxville Home Search Page to see what homes are for sale in the area.