Planning to Sell Your Home and Buy Another in Waukesha?
Selling your home while buying another can feel overwhelming. The timing, financing, and logistics can be complex, but with the right strategy, you can transition smoothly. Kallas Real Estate, led by expert Waukesha Realtor Dan Kallas, will guide you through the process to ensure a seamless experience in the Waukesha real estate market.
Step 1: Understand Your Financial Situation
1. Get a Home Value Estimate
Before listing your home, determine how much it’s worth.
- Work with Kallas Real Estate for a Comparative Market Analysis (CMA).
- Research recent home sales in Waukesha, WI.
- Consider potential profits to use as a down payment on your next home.
2. Review Your Mortgage Options
- Bridge Loan: Provides short-term financing between selling and buying.
- Home Equity Line of Credit (HELOC): Use existing home equity for a down payment.
- Contingent Offer: Buying a new home contingent on selling your current one.
- Rent-Back Agreement: Stay in your home for a set period after selling while securing your new home.
Step 2: Decide Whether to Sell First or Buy First
Option 1: Sell First, Then Buy
Pros:
- You’ll know exactly how much you can spend.
- Avoid paying two mortgages at once.
- Stronger purchasing power with a confirmed sale.
Cons:
- May need temporary housing if your new home isn’t ready.
- Risk of feeling rushed to find a new home.
Option 2: Buy First, Then Sell
Pros:
- No need for temporary housing.
- More time to find the perfect home.
Cons:
- May need a bridge loan to cover expenses.
- Carrying two mortgages can be financially risky.
Step 3: Prepare Your Current Home for Sale
1. Make Necessary Repairs and Upgrades
- Address minor repairs (leaks, paint, flooring).
- Improve curb appeal with landscaping and a fresh front door coat.
- Consider minor kitchen or bathroom updates for added value.
2. Declutter and Stage Your Home
- Remove personal items to help buyers visualize the space.
- Rearrange furniture to showcase room functionality.
- Deep clean every room to make a great first impression.
3. Price It Right
Setting the right price is crucial for a quick sale.
- Kallas Real Estate will conduct a CMA to determine the best price.
- Pricing too high can lead to a stale listing, while pricing too low could mean leaving money on the table.
Step 4: Find Your Next Home in Waukesha
1. Define Your Needs and Wants
- Location preferences (neighborhoods, schools, commute).
- Home size, features, and must-have amenities.
- Budget and financing options.
2. Work with Kallas Real Estate to Find the Right Home
- Get pre-approved for a mortgage.
- Tour potential homes in Waukesha.
- Make competitive offers based on market conditions.
Step 5: Coordinate the Closing Process
Once you receive an offer on your current home and have an accepted offer on your new home, it’s time to coordinate the closing timeline.
1. Align Closing Dates
- Work with Kallas Real Estate to ensure the timing works.
- Consider a rent-back agreement if needed.
2. Prepare for the Move
- Hire professional movers for a stress-free transition.
- Pack essentials separately for quick access.
- Transfer utilities and change addresses ahead of time.
Why Work with Kallas Real Estate for a Smooth Transition?
- Local Market Expertise: We know Waukesha’s real estate market inside and out.
- Proven Negotiation Skills: Get the best deal on both transactions.
- Comprehensive Strategy: Seamless coordination between selling and buying.
Ready to Sell and Buy in Waukesha?
If you’re planning to transition to a new home, Kallas Real Estate is here to guide you every step of the way.
📞 Call Dan Kallas at 414-617-6912 today for expert advice!
