Thinking about selling your home this year? Whether you’re ready for a bigger space or looking to downsize, your current home could be the golden ticket to your dream home. Here’s the exciting part: your home equity may be just what you need to fast-track your move.

Let’s break down how selling can help you reach your dream home – without the stress of saving up from scratch.

 

Tip #1: Understand Your Home Equity  

Think of home equity as the part of your home you truly “own.” It’s the difference between how much your home is worth and how much you still owe on your mortgage.

Your home has likely gone up in value since you bought it, and you could have more money to put toward your next home than you realize. This equity is like a savings account you can use toward your next home.

Tip #2: Set A Clear Financial Goal  

Selling your home is an exciting milestone, but planning ahead makes it even more rewarding. If you’re thinking of making a move it’s critical to get a clear picture of all of your finances.

First, figure out how much you’ll need for a down payment on your next home. Most down payments range from 5% to 20% of the purchase price. The best part? Your home equity can cover a large portion of that, saving you time and effort. Sitting down with a local real estate expert is important to do early, aim for around 6-12 months before your ideal move-date. It may sound early, but by getting ahead of the process you can make your financial picture much clearer and be certain of the process. (And you avoid missing out on a potential dream home!) By setting a solid financial goal before you sell, you’re not just listing your home—you’re paving the way for a confident step into the next chapter of your life.

Tip #3: Boost Your Home’s Value

Let’s be real—who doesn’t want to get the most money out of it, right? Well, here’s the thing: it doesn’t have to be a major renovation to boost your home’s value. Just a few small upgrades might make a huge difference and get buyers excited! Here are a few ideas:

  • A fresh coat of paint is inexpensive and brightens up any room!
  • Spruce up your yard with a little cleaning or some flowers.
  • Move things around or into temporary storage to make the space feel bigger and more open.

Think of these as a short-term investment! The better your home looks, the more buyers will be willing to pay. And that means more money in your pocket when it’s time to buy your next place!

Tip #4: Save Smart and Spend Wisely

Here’s a little pro tip: save a bit more than you think you’ll need.

Even if selling your home might cover most of your down payment, you’ll still want some extra cash for moving expenses, last-minute repairs, or just those unexpected little things that pop up. Setting up a separate savings account for it and add a little bit to it whenever I can—it’s like a secret stash for the move!

While you’re saving, it’s also a great time to trim down on some unnecessary spending – maybe cancel a subscription you forgot about, more home cooked meal, and resist those impulse buys in the mean time. Those small changes add up over time, and you’ll be feeling financially confident in no time!

Tip #5: Keep an Eye on the Market and Time It Right

You’ve already put in the hard work, but here’s one more thing that can really boost your sale—timing! The housing market fluctuates throughout the year, and knowing when to sell can make a huge impact. Spring and summer usually bring more buyers, but don’t count out fall and winter—serious offers can still come through.

Tip #6: Team Up with an Expert

Finding a trusted real estate agent is a game-changer!

They’ll help you set the right price for your home, take care of all the paperwork, and just make everything feel a lot smoother. Here’s where working with a realtor early really pays off: They are working sellers that may prefer to sell off-market, by just looking online for homes you may miss out on an incredible deal on your dream home! Plus, working with an expert can help you pick the perfect time to sell and get the best price!

Ready to make your next move?

Selling your home can be the key to unlocking the funds you need for a new one. By tapping into your home equity, setting clear goals, making small upgrades, saving wisely, and getting expert help, you can make the whole process smoother and more rewarding. Plus, with the right timing and a little extra help from available programs, you could be on your way to the next chapter of homeownership faster than you think.

Whether you’re upsizing, downsizing, or just changing things up, with the right preparation, you can sell smart and buy smart. We are so confident of selling your home that we guarantee it in writing. If Your Home Doesn’t Sell, Debbie and Sarah Will Buy It -THAT’S OUR GUARANTEE!* To discuss the sale of your home, call us at 703-214-2147 Today and Start Packing!