Deciding whether or not to sell your home is one of life's major decisions and should not be taken without having first found out some highly relevant facts.
Firstly contact your mortgage lender to pre-qualify you for a loan for your next house. This is very important as it will save you time later when you are about to buy your new home and gives you confidence in making offers. Your mortgage lender will also tell you exactly how much you have outstanding on your present house loan.
Survey the market to establish a bench mark price for the type of house you would like to buy.
Carry out market research on houses similar to yours and establish a realistic sales price. Don't rely on your gut feelings, remember your sale price must be based on a realistic appraisal of the current market.
Get together all the costs involved in actually making the move. This will include removal costs, the cost of any down payment and any other work that may be required to complete the move to your new house.
Study the market. A sellers' market means that property is selling quickly and asking prices are being achieved (and sometimes exceeded). In a buyers' market, tough offers are being made by buyers to drive down prices and property can be slow to sell.
With this information to hand you have the facts needed to determine if your proposed sale and purchase is realistic, achievable and worth the effort.
