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Buying And Selling At The Same Time

9/17/2021

Buying And Selling a home At The Same Time

So you want to buy a new home but you already own a home? With multiple offers giving sellers more options, purchasing a home contingent on the sale of your current home has become a thing of the past. But don’t despair, here are 3 ways current homeowners can buy in this market:

1. Buy your new home first.

We’ll get this option out of the way first. The easiest way to balance buying a new home and selling your current one at the same time would be to buy your new home first and then sell your current home.

This is not the most accessible option because it does require you to be able to afford (and financially qualify to own two homes at once.) You will also need to have closing costs and the down payment for your new home; the good news is you may be able to pull this from the equity in your current home.

And just because you can afford two homes doesn’t mean that you will end up owning two homes. As soon as you secure your new home, we can take advantage of the seller’s market to hang a sold sign on your current home in record time.

Sounds great, right? This option hinges on your comfort owning two homes and your financial capability to qualify for the second home purchase, which is why talking with your favourite mortgage specialist is always the best way to start your home search.

Hot Tip: Use a bridge loan to avoid having to move twice.
Want to avoid home limbo while buying and selling at the same time? A bridge loan may be your secret weapon. 🧨A bridge loan will allow you you to pay for your new home before you receive the funds from the sale of your current home. That being said you will need a firm and binding offer on your current home to qualify for bridge financing.

2. Sell first, and make the sale contingent on finding a new home.

With first-time homebuyers at an all-time high, your chances of finding a buyer who’s willing and able to wait are high. Make your sale contingent on finding and closing on a new home to give yourself the time you need.

This option sounds too good to be true but there is a downside; having the sale conditional on finding your next home will likely result in a lower sale price. The key to maximizing your sale price is maximizing the number of buyers interested in your property and this condition will definitely deter some buyers.

3. Sell first, rent while waiting to buy.

This is often the least stressful option available when you’re looking to move from one home to a new one without balancing closing dates. This allows you to take your time shopping for your perfect new home without worrying about having someone waiting to move into your current home!

Hot Tip: Try to negotiate a month-to-month lease with your new landlord.
A short-term commitment will allow you to move quickly when the right house comes up.

Have questions about how you can balance selling your current home while buying a new one? Comment below or contact me to set up a free consultation.

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Preparing Your yard For Fall

9/2/2021

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Preparing your yard for the winter

As the summer winds down, I caught up with local Garden & Landscape specialist Rob Corey, owner of The Gardener Halifax and Halifax Outdoor Decor, to find out his top tips for lawn and yard maintenance for Fall.

What are 5 things homeowners should do to their yard to prepare for the fall?

Cut back perennials and remove annuals - once the weather starts to cool off, it's time to clean up garden beds to get them ready for the winter. Remove annual plants and cut back perennials.
Remove dead or diseased branches on trees and shrubs - pruning is to help maintain the appearance of the trees and shrubs as well as remove disease before it can spread to the rest of the trees.
Note: Avoid pruning live branches at this time. To check if a branch is dead, scrape off some of its bark on a smaller stem to see if it's green inside. If it's not green and bendy, it's not alive.
Rake up and dispose of fallen leaves on the lawn - to keep your yard looking nice through the fall, rake up leaves and dispose of them as you see fit. You can choose to save them in compost bags to mulch and use to protect flower beds over the winter, or you can put them out to the curb.
Note: If you're using leaves to protect your flower beds, make sure to book your Spring yard clean-up early as they book up fast.
Lower the mower to approximately 1.5-2.0" and give your lawn a final cut - in regions like ours where the season is wet and the snow accumulates, your lawn is susceptible to damage if the snow can bend your grass blades over or there are piles of leaves left on your lawn. To reduce fungal growth on your lawn (called snow mould), make sure to cut your grass short for the winter.
Apply a Fall fertilizer to your lawn in mid-October - this will stimulate root growth through November and even into early December. By helping roots grow before winter sets in, you are ensuring that the lawn will green up quicker in the spring and become more resistant to disease and drought.

What are the top projects homeowners want to have done to their yard before listing them for sale?

Garden clean-up - gives the home a tidy appearance and enhances curb appeal
Hedge pruning - one less task for new homeowners to take on and makes the property look great
Plant new shrubs and/or flowers - adding a spot of colour or enhancing the look of an existing garden—or even creating a garden space where there wasn't one before to help buyer's see themselves at home in the yard
Add planters to the front entrance - increases the perceived value of a home and helps it stand out in the neighbourhood
Lawn repair - buyers love a lush lawn and addressing problem areas before you list increases the curb appeal, generally leading to higher offers when you go to list.

What are the top requested projects for the Fall?

Garden clean-up - It can take a lot of effort to prepare your yard for Fall. Garden clean-ups are one of our top requested services to prepare garden beds for winter.
Tree planting - Deciduous trees can be planted in the spring, as soon as the frost is out of the ground, or in the fall, from leaf fall until freeze-up. Conifers can be planted early in the spring until four weeks after deciduous trees have opened their leaves, or in the fall, from about the first week of August to the end of October.
Project design for next season installations - When you're planning a large yard or garden construction project, you would benefit from working with a landscape architect. They can help you plan your gardens, decide where and what kind of hardscaping you need and how to set up your space as your own personal oasis. The design is just the first step, and most people don't realize that the planning has to come before we book the installation. Homeowners can have their project designed in the fall and winter and then work on the installation when time and budget allow.
Sod replacement - Summer can be hard on your lawn. Fall is a great time to replace sod while the weather is quite wet and before the winter freeze sets in.

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Buying And Selling At The Same Time

Buying And Selling a home At The Same Time

1. Buy your new home first.

2. Sell first, and make the sale contingent on finding a new home.

3. Sell first, rent while waiting to buy.

Preparing Your yard For Fall

Preparing your yard for the winter

What are 5 things homeowners should do to their yard to prepare for the fall?

What are the top projects homeowners want to have done to their yard before listing them for sale?

What are the top requested projects for the Fall?

Margaret Craig

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