How To Plan The Sale And Purchase Of A Home

The process of buying and selling a home can be a stressful one.

It doesn’t matter if you’re buying your first home or your third, or if you’re selling a vacation home or the home you raised a family in, it’s tough.

One of the tricky aspects to navigate when selling and buying a home is figuring out the best way to plan the sale and purchase of a property. Having someone in your corner, helping you along the way, is the best thing buyers and sellers can do to help themselves. It’s an incredibly valuable, and often necessary, resource.

The right agent not only knows the best way to sell your home and buy your home, but how to do both at the same time.

Kevin Yankow and his expert team at Key Real Estate are ready to help you every step of the way. Since 2012, their friendly and knowledgeable team has helped both buyers and sellers leave and find the home of their dreams.

They know every facet and angle of the real estate market in Southwest Florida, and are absolutely the best agents to help you buy and sell a home in communities like Naples, Estero, Bonita Lakes, as well as the other areas in Southwest Florida.

Here are a few things to consider, and ways to plan, when selling and purchasing a home.

Understand the Current Real Estate Market

Having a built in knowledge of the real estate market is an incredibly important first step when buying and selling a property.

Southwest Florida has many different property types, communities, and price ranges, and knowing the best time to sell or buy can greatly help you earn and save as much as possible.

Not only does knowing the state of the market help you determine property value, but it will help your overall strategy.

For instance, if you’re in a buyer’s market, there’s a buying power that might allow you to include certain contingencies to protect yourself. An offer to purchase a home only if your current home sells is one example of this, and a safer way to buy a new home without the risk of not having sold your current one.

Alternatively, in a seller’s market, you could have a similar contingent that relies on you purchasing a new home before selling. There are even options to set up your home for rent, another decision Kevin Yankow can help you make.

Having a team like Key Real Estate grants you all of the local experience and expertise you could ever hope for.

Deciding What You Can Afford

Knowing your budget is clearly an important factor when buying a home, but when you’re also selling one, this can be challenging.

Not only do home buyers need to know how much they have to spend, but this often relies on how much money they will receive for the selling of their home. Having help to understand the market is key, but the market also changes. Predicting where the market is going is equally important, as well as being able to sell your home as quickly and efficiently as possible to know exactly where you stand financially.

Once you know the amount of money you are comfortable spending, you want to make sure every dollar is spent to get you into the best property. Buying a home is a big step, and Key Real Estate knows the Southwest Florida real estate market so well they know exactly where to guide you.

Whether to Sell or Buy First

There are advantages and disadvantages to buying a home first and selling first. In most cases, especially with the right agent helping, the advantages will greatly outweigh any disadvantages.

It depends on many factors that only someone like Kevin Yankow can have the experience required to know the best plan of action.

Here are a few of the advantages to prospective home buyers deciding whether to buy or sell their home first.

Selling first

• Being approved of a new mortgage of made much easier
• No need to have two mortgages at the same time, which is often too risky for most households
• Knowing exactly how much money you have to spend on a new home
• Sellers will take your offer much more seriously knowing that you’re serious
• Increases all of your negotiating power
• Give yourself the time to be patient looking for a new home

Buying first

• You’ll have a new home to move into immediately!
• Finding living arrangements can be costly and frustrating
• Give yourself the time to move comfortably into the new home, possibly even make upgrades to the property
• Selling a home can prove easier when you are moved out

These are just a few of the things to expect when selling and purchasing a home simultaneously, and a few ways you can prepare. No matter what approach you hope to take, the best thing you can do for yourself is choose an agent like Kevin Yankow and the other experienced realtors with Key Real Estate Team.

If you're planning on selling (or buying a home) in Southwest Florida this year, get in touch with the Key Real Estate Team online, or call 239-312-3120 today!