Quote:
Originally Posted by Vinny01
Are others taking the other approach of selling your place first then getting out in the market to purchase?
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It really depends on the shape of your current house, the desirability of the neighborhood, your money situation, and if you find a property you really want. With two boys and a dog my old place got a little beat up and needed work that would be easier to do with us out of the house so we found a place we liked and after some negotiations and waiting the sellers out got it. Over the summer we purchased that house and to get the price we wanted took a 2 month possession date. I didn't even put the old house up for sale until we were living in the new one for 1.5 months as my brother and I in evenings and weekends repainted every room in the house and cleaned it up to look nice. We could afford to carry both mortgages (we had less than $100k owing on the old house) and were lucky our place sold really quickly as even though I did calculations of what it would cost to own both simultaneously it surprisingly cost more than my calculations so if the house sat for 6 months or more it would have been stressful.