Buy first? Sell first?
I am newly registered but have lurked here for a long, long time, and I have seen how helpful this group can be.
Anyway I finally decided to leap in and sign up so I could ask for some advice and/or encouragement about my situation.
I am in my late fifties and on my own (no spouse or partner) and I really dislike where I live. I have no extended family here. I have nice neighbours, nice acquaintances, but no close friends.
I feel no real Ã¢ÂÂtiesÃ¢ÂÂ here. I ended up here for various reasons and stayed for my children, but now theyÃ¢ÂÂre grown. IÃ¢ÂÂm ready to move to another town that seems to have many of the amenities I look for. That town is about three hoursÃ¢ÂÂ drive from me.
I have an adult "child" who still lives with me and is saving up to buy a small house. I promised that child that IÃ¢ÂÂd stay here until next spring, after which time I plan to move. That child will likely follow me to the new city, so we could still live near each other.
HereÃ¢ÂÂs my problem: I canÃ¢ÂÂt decide whether to sell first or buy first. IÃ¢ÂÂve bought and sold several houses over my lifetime and in retrospect, I see that each time I could have walked away with more cash than I did. Each time, I was naive. I was urged by real estate agents to sell low and buy high and that's what I did. After all, they were the "professionals". This was not the same agent or even the same area of the country -- six homes in six different places and six different agents -- but it seems to be what they want (a fast, easy sale) and I was stupid enough to succumb to the pressure.
IÃ¢ÂÂm feeling pretty cynical about real estate agents these days. When I think if how stupid I was . . . well, whatÃ¢ÂÂs done is done, but I am not so trusting any more.
This time, money is really tight. I need to sell high and buy low. IÃ¢ÂÂm getting older and donÃ¢ÂÂt think I can handle another move. This one must be the Ã¢ÂÂrightÃ¢ÂÂ move.
I have been scouring the real estate listings for a long time and am fairly confident I can find what IÃ¢ÂÂm looking for at around $20,000-30,000 less than the value of my current home.
But in my area, the market seems to be changing (from a hot sellerÃ¢ÂÂs market to more of a buyerÃ¢ÂÂs market). That makes it a bit harder for me.
If I sell my place first, then IÃ¢ÂÂm nervous I wonÃ¢ÂÂt find something I want before my closing. And I donÃ¢ÂÂt want to be rushed into buying the Ã¢ÂÂwrongÃ¢ÂÂ place. But by selling my home first, I would know exactly where I stand financially.
If I bought the new place first, then I could take my time and find something I really like. If the timing were right, I could possibly be able to move some of my excess household goods there and stage my current home for an easier sale. But then IÃ¢ÂÂm afraid IÃ¢ÂÂll feel pressured to sell Ã¢ÂÂlowÃ¢ÂÂ (because IÃ¢ÂÂll have a contract on a...