Now that your financial efforts to have a custom house built are finally paying off and you are the owner of a new residence, the issue of selling your old home and moving in comes into question. Timing is the most important factor in this equation. It is difficult to precisely estimate when the new home is going to be ready and the fluctuating market conditions make the situation even harder because they can confuse you regarding the right time to sell the old one.
As a guiding point in making these moves wisely is to seek to gauge a period as short as possible during which you should be carrying mortgage payments on both houses. You are also advised not to hurry and be too quick on the trigger because you might end up getting an overly low price. In addition to this, by selling your old home too early, you risk having no place to live or having to pay for storage and a double move.
Tips to Selling Your Old Home
There is no magic trick or secret to get you out of this problematic situation, it is merely a question of patience and attention. Carefully watch the market and consult your real estate agent. If you don’t have one, it is up to you to assess the market and explore the ground by asking useful information from various real estate agents. Your goal is to find out as precisely as possible how long it will take to sell and close the old home. Do not rule out the idea of renting it if necessary and develop contingency plans in this respect. Thus, you will be able to ensure a constant cash flow and enjoy a more relaxed atmosphere that won’t pressure you to sell.
Bare in mind that you have to be focused to analyze the right sales opportunity and taking care of this business “on the run” won’t do you any favors. While you keep an eye on the real estate market, you have to keep in touch with your contractor as well concerning the estimation as to when the house will be ready for the move-in. To avoid any inconveniences, add two more weeks to the term delineated by the contractor. It is safer and you don’t have anything to lose, on the contrary, you have some extra time to make the move if the specialist’s approximate turns out accurate. The alternative, on the other hand, can have some unpleasant repercussions.
If you are determined to carry out the moving process by yourself, expect a lot of roads, stress and efforts to take hold of your agenda. If you want the easier way, you then resort to movers, of course. Either way, you have the advantage of knowing in advance how the house looks like, which will prove very useful in the course of the whole action. Here is a list of suggestions of how to make this transition smoother:
- use the floor plan - make use of the plans that your architect has already outlined for you; this way, you will be able to visualize the position of everything in your new home and, consequently, eliminate whatever is superfluous;
- do some advance decorating - taking this step in the course of the custom house project is very helpful because it allows you to create a general view of your new residence and you start to see what stays and what goes from the items at the old house;
- use pictures to see if items belong – since you are moving into a new home, there are big chances to buy many new things; start early with the preparations and get measurements and photos from retailers to see whether the items you want fit in; have the deliveries soon after the move;
- rent a dumpster – use it to dispose of all things that you don’t want in your new home; think of all the hassle of taking them there and then realizing that you want to have them hauled away; consequently, be very selective and rid of the unnecessary items;
- organize garage sales – if you don’t feel comfortable about throwing some of your stuff, but neither taking them to your custom home, put them on sale; this way, you raise money that will surely be useful in other respects, like buying new furniture.
These being said, prepare yourself for this one last strain and start afresh in your personalized house after selling your old home.