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[bigbabyblues]

We're in the same boat, right there with ya! Our house isn't quite ready to be put on the market, hopefully by the beginning of July. DH has talked to a couple of people who want to sell their homes in the area we plan to move to, and I've had some contact with an agent in the same general area, but we haven't looked at any yet, because our downpayment on the new house is dependent on the sale of our current home.

We'll probably be stuck living with the IL's in the time between selling and moving into our new home, but we know what our price range is, and there are currently 10-12 homes we could choose from that are already for sale that are what we're looking for, so I hope we get lucky.

Good luck to all!

Steph

 

[ToyStory Fan]

We lived this dilema not too long ago. For us the decision came down to not wanting to sell and be forced to choose from what was available (very tough market in our area). WE were planning on a significant size upgrade, and there wasn't much to choose from and the stuff that existed was way overpriced and needed work, or was a knockdown for the nice property, but the house was useless.

We wound up buying first (not letting on to the other party that we needed to sell first) this can get tricky, but technically our bank was okay with it since we were able to provide a listing agreement - thus they gave us the bridge financing.

Secondly it is also very importatnt on the sell side not to let on to the potential buyers that you have made a purchase and that you need to/want to move/close immediately (to avoid paying 2 mortgages).

In the end it worked out fine for us - we did not have any time where we paid 2 (different) mortgage payments. Remember the most important thing is to not show your playing cards until you need to.

Good Luck!

 

[Chris2597]

We placed a contract on a new home in January, which would be ready for move in 6 months later, placed our home on the market.....7 days later our house sold for 2k over asking price....with a closing 7 days later....Everything moved very quickly.
We thought we would have to rent an apt until my mom ( 84 yr old widow) invited us to stay with her. It has worked out wonderfully as her home is in our school district. We are paying all household living expenses while at her house.... My worry now is leaving her when our home is ready. She has gotten use to the company and busy life my family leads.
Ok....I have a question for all of those that have bought, are buying, building ect..... Do any of you have anxiety over the higher house payments....? We live very conservatively.....and now that we are a month away from closing on our new home the reality of doubling our house payment has hit. We discussed, budgets and thought about this for years before selling and taking the plunge and building. The mortgage lender told us that we are well within our house payment to income ratios....we have no other debt...She said something about us being at 18 % of our income being taken with the payment. I enjoy my lifestyle and worry that the novelty of the new house will wear thin and I will resent the $$ the house payment.

 

[Disney Princess 6]

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