Two Moves or Two Houses. Which Do You Prefer?

By
Real Estate Agent with Sutton Group-Capital Realty Ltd.

The thought of relocating from one address to another is a two move or two house process that can be a little daunting for many.  Let’s call a move a spade and then, let’s call a spade a spade.  There are no easy moves when you must move twice.   For some, just thinking about this is overwhelming.

Wouldn't it be nice if we could just wiggle our nose and everything was done in a flash?  Unfortunately we don’t live like Samatha.  Truth is, we don’t even know a friendly witch to call when we have to make that move.  It will have to be done one box at a time.  (If you don’t know Samatha, you probably did not watch the 70’s television sitcom, Bewitched.) 

Here is something to remember about buying and selling a home.

Buying a new home and selling your existing home is not really a single event.  In order to manage it well, you should think of them as two separate but related transactions.  Whichever one you do first will depend upon your own level of comfort.   

If you want to sell your home before you buy another one, prepare yourself to make two moves.  If on the other hand you prefer to buy a new house first and then sell your present home you should expect to own two homes, at least temporarily.  In other words, you will either make two moves or you will own two homes.  The question is which do you prefer?    

It may be possible to close on your purchase and your sale on the same day but those deals are difficult to achieve and usually come at a price.  Selling your home quickly requires that you have everything in "quick sale" shape before you list your home for sale.  As well, pricing your home for a quick sale will be critical to making this happen. 

Bear in mind that selling quickly can be done but it may not enable you to sell for top dollar.  I know some people who agreed to sell to a neighbor for quite a bit less than the market value just because it would give them a quick sale.  Sometimes, a little interest payable for a month or so while the home is exposed to the market may be worth paying in order to maximize your sale price.  In this case, an interested neighbor would pay its real market value or lose it to someone who would.

Moving from an existing house into a rental or the cottage before you buy the next home is the other way around having two houses.  This will require that you move twice.  I have known some folks to sell their home and move into a rental property for 4 to 6 months until they find the right place to buy. This method will work well for those who don't want to own two homes.

Here are a three suggestions for making the move go well.

1. Make the effort to bring everyone in the family on side.  Discuss the need to make the move with each member so they all know what role will be expected of them.  Prepare them for a temporary burst of energy requirement for the period leading up to the move.  When everyone buys into the idea, it will help eliminate resistance and likely elicit some meaningful help.

2. Solicit the extra assistance that you need from outside the immediate family.  Don't try to be superwo/man who can do it all.  Perhaps you can call on extended family and friends.  Be sure to call on the right professionals to make the move go as efficiently as possible.  Good professional movers are worth their weight in moving trucks.

3. Plan on rewarding yourself at the end.  Schedule a little break somewhere after or announce to your family your intention to buy a new piece of furniture or something else that you would like to have.  The effort required to make the move is not insignificant.  Let everyone know that when it is all done, you will all do this or that or you will buy something that everyone wants...like that new flat screen TV.  A little reward will serve as some useful incentive to push through the work load. 

Whatever you decide to do, I recommend you take the time to think about your options and move ahead one step at a time.  Breaking it down in pieces will keep the event from being overwhelming.  Not all lights are green when you plan your trip across town but as you move forward, each light will turn green in its time.  Give yourself time and be confident.  You really can do this! 

R. Greg Osmond is a Platinum Award winning Realtor serving St. John’s and surrounding areas, Newfoundland and Labrador for over 20 years and can be reached at 709-895-2500. Visit http://www.rgregosmond.com/ for further information.   

 

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By R. Greg Osmond, MBA

About the Author: R. Greg Osmond, MBA is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 24 years Greg has been practicing in Real Estate. He is also president of Red Maple Development Inc., a firm focused on new home construction and existing home renovations, for Greg's clients and the market.  Greg can be reached at 709-682-9670.  Greg's Associate Realtor, Andrew Macdonald BBA, may be reached at 709-749-8879.

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

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Topic:
Real Estate General Information
Location:
Newfoundland Avalon Region St Johns
Groups:
Active Rain Newbies
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Tags:
buying a home
selling a home
how to buy and sell a home
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Rainmaker
124,260
R. Greg Osmond
MBA, Red Maple Realty
Sutton Group-Capital Realty Ltd.

Sylvie, A condo?  I thought you were going to buy a nice place overlooking the ocean so you can take all your stuff with you.  Guess I won't hold my breath for that sale.

October 19, 2009 10:27 AM
Rainer
205,223
Sylvie Conde
Broker, Toronto Real Estate
Sutton Group-Associates Realty Inc., Brokerage

Greg, I'll have to buy a condo here ... so I can have an oceanfront property somewhere else. :)

I wouldn't want to leave a house here, would I?  Who would cut the grass and shovel the snow? LOL

 

October 20, 2009 09:03 AM
Rainmaker
124,260
R. Greg Osmond
MBA, Red Maple Realty
Sutton Group-Capital Realty Ltd.

Sylvie,  Good point.  Go for the condo.  Shoveling is way over rated. 

October 20, 2009 09:15 AM
Rainmaker
205,471
Erby Crofutt
The Central Kentucky Home Inspector, Lexington KY
B4 U Close Home Inspections&Radon Testing (www.b4uclose.com)

You got me wrong, Greg.  I don't have any problem what so ever letting my wife do the unpacking.  She's always the one choosing where I can put my stuff anyway.  My part is limited to carrying boxes where she directs, and removing the empties.  I don't mind that a bit.

(I can get quite a bit of fishing in while she unpacks 10 boxes!.  She's happy and that makes me happy!)

 

-

October 22, 2009 05:53 AM
Rainmaker
124,260
R. Greg Osmond
MBA, Red Maple Realty
Sutton Group-Capital Realty Ltd.

Erby,  You're right.  I didin't take you to be a guy who gave his wife such pleasure.  Good on you! ;)

October 22, 2009 07:10 AM
Anonymous
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R. Greg Osmond

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