How to Buy a New House When You Already Own One

How to Become a Move Up Buyer

judithorear

How to Buy a New House When You Already Own One

 
Don’t get stuck paying two mortgages
If you’ve outgrown your current home or need to move into a new neighborhood, it’s time to sell your house and buy a new one. Ideally, you would be able to easily make the switch, but chances are, you will face some hiccups along the way.
If you sell first, you may be left rushing to find a new place to live, and you may end up with a house that isn’t right for you. But if you buy first, you run the risk of paying for two homes at the same time. The transition becomes even more difficult if you need to sell your current home to make a down payment on the next one.
Assess the market
Take a look at home prices in both your current and future neighborhoods…

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