flgaland@gmail.com
    (386) 243-0124

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When You Should Sell Your Current Home Before Buying a New One

When You Should Sell Your Current Home Before Buying a New One

If you’re buying a new home in Lake City or a nearby town, it might be a good idea to make sure you’ve sold your old one first. In that case, you might have to rent an apartment or house for a while – but it might be worth it.

When You Should Sell Your Current Home Before Buying a New One

  • When there’s a risk of carrying two mortgages
  • When you can’t get a new loan
  • When you’re selling in a slow market

Carrying Two Mortgages

Having two mortgages is really expensive… especially if one of your houses is sitting vacant. If you don’t want to have to become an “accidental landlord,” it’s wise to sell your current home before you even start looking for a new one.

Not Qualifying for Two Mortgages

Most people can’t qualify for an entirely new mortgage because they’re bogged down by the first one. In this case, it makes sense to find a buyer to take your current home off your hands before you apply for a new mortgage loan.

Selling in a Slow Market

If you’re trying to sell in a slow market, it’s important that you sell before you get a new house. Otherwise, you run the risk of carrying two mortgages (see above). Worse, you could end up getting less than what you’re asking for your current home – and that could affect your ability to afford the new one.

Are You Buying a Home for Sale in Lake City?

If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.

In the meantime, check out the most popular Lake City home searches by exploring the links below.

  • Waterfront residential in Lake City
  • Waterfront land in Columbia County
  • Bank-owned homes and foreclosure in Columbia County
  • Short sales in Columbia County
  • Paved road frontage for sale in Columbia County
  • Non-deed-restricted land for sale in Columbia County
  • Wooded oak tree land for sale in Columbia County
  • Land-for-land home combo in Lake City

Posted in: Buyers, Mortgages, Tips, Tips, Life Hacks & How-to Tagged: How To, Selling Your Home

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North Florida Land for Sale

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flgaland@gmail.com

Office: (386) 243-0124
250 NW Main Blvd #75
Lake City, Florida 32055

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Search Smarter

Did you know the hottest North Florida land for sale often sells within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest land as they hit the market! Simply click the button below and choose the types of North Florida land you are looking for and save your search to start getting alerts today!

New Property Alerts

As a local expert, I also have access to North Florida land for sale before it hits the market and can show you more information that is only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me contact me at your convenience. There is no obligation and or pressure... I hope to hear from you!

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