Combining Households Real Estate Offered by Coldwell Banker
When you are moving in with a spouse or significant other, combining families, or consolidating households with friends, you have a lot of options: should you sell both homes and buy a new? Should you rent both homes and wait for the seller’s market to improve? What if only one of the homes has solid equity? How long should you rent a? These questions, in addition to the general confusion of transitioning households, can seem overwhelming, but with a knowledgeable realtor, like Travis Senenfelder, and a with a proven record of helping clients, like Coldwell Banker Real Estate, combining households can be a rewarding and exciting process.
Your decision depends upon finding the right balance between timing and opportunity in the current market. You want to find the right for all residents quickly, but at the same time you want to have the right opportunity to sell or rent your and get the right price.
Generally, if the market is soft, it is often a better idea to keep both homes, lease each property out, and buy or rent a new. This allows you and your fellow residents to wait for the market to rebound and enables you to capitalize on appreciation. Additionally, while you receive income from your rented homes, you can take advantage of the soft market and generally buy a for a very low price. When the market rebounds, you can then sell each.
If, for one of your homes, the market is strong in that’s area and you have built solid equity in that, it may make the most sense to sell the with strong equity, rent out the other and wait for the market to rebound, and purchase a new.
If the market is strong in both homes’ areas and you have strong equity in both properties, it is generally recommended to sell both homes while the market favors selling. With the income from both homes being sold, you can upsize to a single owner-occupied, or, alternatively, you can purchase a similarly priced to occupy and another as investment property.
Of course, these are only general scenarios, but each time two households combine is unique and requires unique consulting advice and a unique marketing strategy. Here at Coldwell Banker Real Estate in, Minnesota, Travis Senenfelder and our other realtors strive to serve your very best interests in every sale and every purchase. If you are at all interested in discussing your unique situation and determining what makes the most sense for you, your family, and your long-term financial goals, contact Travis Senenfelder and Coldwell Banker Real Estate today.