Selling your old home and moving into a new home takes twice the amount of effort. But things don’t always go smoothly and it becomes so hard to match both days perfectly. Things can go wrong and you may want either to stay at a hotel for a few days till your new house is ready to move in. Else, your old house may still be on the market even after you move into the new place.
However, there are some ways by which you can time this perfectly. You should make yourself ready with all the vital preparations to make sure this happens simultaneously and you walk out of your old home and right into your new home!
7 Steps to Buying and Selling a House at the Same Time
Check out this list to ease your worries. Follow these steps to synchronize buying a new house and selling your old place down to the exact day and time!
1. Be Completely Aware of Your Finances
We cannot go around this one, can we? The very first step of selling and buying houses in London is to be totally in control of your finances, advises Apex Removals & Storage Group. You should know how much money you have saved up, how much money you can afford to spend on the new house and factor in the various other expenditures.
Not all of us will want to find a home that is of the exact same cost as our current home? We may size down or size up the next home and therefore, you should have a fixed bracket within which you can buy the new place.
In all of the properties in London, it’s a common practice to pay a deposit amount. You will have to get a deposit from the person moving into your place and you should also pay the deposit for your new house. This deposit will be a considerable amount and you must work out on how to cover it. You may get the deposit for your old home and use it as your deposit when you move in. If the deposit amount is higher, then make sure to have some amount ready to cover the difference.
2. Get the Right Value of Your Current Home
Before you start putting your home on the market for sale, you should be aware of how much it values. You cannot just put up some random estimate that you think is the value.
For this, you can hire real estate agents who will give you an accurate estimate of how much your home is worth. Most real estate agents will provide you with a higher limit up to which you can push your cost. You can use limit to start-off close to the higher range of the valuation and keep yourself open for negotiations.
3. Starting Hunting for New Property
Once you have put your house for sale in the market, you can begin your search for a new place. You cannot find the right place in haste within a short time. It would take at least a month or so to get a few callbacks from owners after seeing your estimate. You can hire solicitors to help you with the search. Else, you can also search online about open houses being held and visit the home yourself.
If you want to get a heads-up with your estimate, then make sure to let the owner know that your current home is on the market for sale. This will show that you are serious about getting a new place and will make them more inclined towards you.
4. Hire Convincing Solicitor
There are several businesses and individual solicitors in London who help people to find a good home. If you aren’t able to do the job of searching on your own, you can hire a solicitor to do that for you.
As your current place is already on the market, this is a time-sensitive job and the solicitor must, therefore, be convincing, active and smart to find the best deals for the homes that are perfect for your liking.
Don’t hire the first solicitor that you come across. Get personal references from your friends and acquaintances, talk to them, see their works and hire the best one you can find even if it costs you a bit higher than you anticipated. Be clear with your solicitor about the kind of house you want, the locality it must be in, the facilities and the condition of the house. Be in touch with your solicitor regularly and keep yourself updated.
5. Consider the Complete Expenditure of the New Home
Sometimes, there may be situations where the new house will be within your budget, but the associated costs would flare-up. There can be some refurbishing works that the house needs or you may want to make some new arrangements for your family that could cost you extra. Don’t forget the commission that you need to pay and the money for the bond, all of which, in total, would be substantially high.
Therefore, make sure to factor in all these when you are working out the money that you can afford. Also, when you are considering the amount you will get from selling your current place, don’t consider the cost you have quoted. Instead, consider the minimum price below which you aren’t ready to sell. This way, even if there are some additional costs involved or if you have to lower your costs, the money will still be sufficient.
6. Communicate Directly with the Owner
When you like property so much and when it comes within your budget, then take the reins in your hands. Though your solicitor may not feel good about it, it’s time that you show the owner about how serious you are.
If you are in the same area, you can even pop in for a quick chat face to face. Or, you can talk to the owner via phone or emails. This will also give you a chance to negotiate the rate of the property and decide on the exact date of move and match it with the date where your current home has to be vacated.
7. Prepare Yourself for the Move
While moving into a new place can be exciting, let’s not forget all the work that comes with the relocation. Especially when you are buying and selling a house at the same time, a few hours of delay in vacating the current place would be catastrophic.
Therefore, make sure to pack all your stuff at least a day before you need to move. This way, you will be relaxed when you have to hand over the keys and complete the procedure of selling the house to the next person.
Alternatively, if you want to relax and take care of just the formalities of buying and selling the house, you can avail of the services for house removals in London with the help of WhatRemovals. Several removal companies in London can help with the relocation of your home and ensure that the time you vacate and move-in is timed perfectly. You can also save on the countless hours you need to spend on coordinating the packing and planning the logistics. It’s just a small cost you need to pay to complete the relocation in peace.