Are you looking to upgrade your home? Maybe you’re looking to take the step up to something more luxurious? Need something a little bigger for the kids? Or maybe you’re looking to downsize? Whatever your reasoning is if you’re facing the task of buying a new home and selling your current one you may be wondering how to make things work. What happens if the transactions aren’t very close together?

Well, YOU’RE IN LUCK.

The Blue Coast Team is back to share tips on how to bridge the gap between buying a new home in Sarnia-Lambton and selling your current one.

The very first tip we tell our clients is to plan ahead. You may need to save up some money for a transition fund. You may find yourself having to juggle two mortgages at once and you need to make sure your costs are covered. We also recommend you meet with a professional to help plan when the best time is to enter the market. Make sure you’re putting your home up for sale at an optimal time to ensure you’re getting the most out of your investment.

Next, we recommend updating your home and getting ready to stage it. You want your home to be “Sale Ready”. This may include adding a fresh coat of paint to your home or updating your curb appeal. Having this ready ahead of time can help ease stress during the process.

If you purchase a home but your home is idling on the market for months- you can always rent it out on a short-term basis. 

Most importantly do not fret. You can always lean on your bank for transitional funding until your home is sold. Bridge loans are quite common and are helpful to ease the process of buying and selling. If this is the route you plan to take, be sure to plan ahead and speak with the bank before you begin the process to ensure they have the time to prepare everything.

Are you thinking about selling your current home in Sarnia-Lambton and purchasing a new one? Call us today and let’s get started at 519-331-3746.