Buy and Sell Your Home at the Same Time


The National Association of Realtors estimates that 71% of repeat home buyers owned their previous home. This means they were likely in the typical situation of trying to buy and sell a home at the same time. If you find yourself in this stressful situation, you may be wondering how to handle everything, from putting a down payment on a new home while your current home is still on the market to the logistics involved in moving. Here are some tips that will help you navigate this common dilemma.

Plan Out the Logistics

If you’ve already found homes for sale in Del Mar you’re interested in buying but have not sold your current home, then the logistics can sometimes get overwhelming. The last thing you want is to end up with two mortgages you can’t afford or, even worse, have nowhere to live. Make a plan before you start the buying and selling process so you’ll have a solution no matter which situation you end up in. Here are some ideas:

  • Find a short-term rental. For those who have already sold their Del Mar real estate and have not yet found a new home they are interested in, securing a short-term rental is an easy solution. You can usually find rental options for several months to up to a year, taking the pressure off finding a new home to buy so you have a place to live. Ask your Del Mar real estate agent to connect you with resources that will help you find rental options in the area.

  • Rent it out. Have you found the home of your dreams but can’t seem to sell your current home? Don’t let your dream home get away from you because you’re worried about paying two mortgages. You can either rent out your Del Mar real estate short-term to those vacationing in the area, or you can market it to those looking for long-term rentals of a year or more. Talk with your real estate agent about which choice is best for you.

  • Secure a storage unit. A storage unit is your best friend when you’re attempting to sell your home. You can clear out the majority of your belongings to make it easier to stage and to get a head start on your packing. If you do end up moving into a short-term rental or in with relatives while you look for a new home, you can keep your items in storage until you’ve found and closed on your next house.

Figure Out Funding

If you’ve found a piece of Del Mar real estate you are ready to buy but have not successfully sold your current home, you may find yourself in a bind. How do you put a 20% down payment on a new home when your equity is still tied up in your current home? Here are some common solutions to this problem:

  • Cash-out refinance. A cash-out refinance is performed on the house you currently own. It pays off what you owe on your first mortgage and secures a new mortgage for more than what you owe on the house. The difference between the mortgage amount and what you owe will be given to you as cash, which you can then use for a down payment on your new home. Currently, rates on cash-out refinances are right around the 3% mark, so it’s the perfect time to consider this option.

  • HELOC. A HELOC is a home equity line of credit or revolving credit line secured by the asset of the home you already own. These loans usually have a lower mortgage interest rate if you have good credit and a low debt-to-income ratio. The interest is also tax-deductible.

  • Sell some assets. Do you have valuable assets such as precious metals, vintage vehicles, or a portfolio of investments? If so, you can sell these to free up money to put toward a down payment on homes for sale in Del Mar. The upside of this is you won’t have to pay interest on a loan. The downside is you will lose out on these assets’ appreciating value.

Use Compass Concierge Services

Why not work with a pro whose experience is in helping clients buy and sell homes successfully? Compass Concierge agents act as partners to help you decide which services you need most to sell your home so you can free up equity to buy a new one. They can help secure vendors for and negotiate projects like repairs or remodeling projects and services, including staging, deep cleaning, and inspections. When you work with a concierge agent, you don’t have to pay for services until your home sells or 12 months pass, whichever comes first. This enables you to increase your chances of selling your Del Mar real estate for the price you want without blowing your budget.

Make Sure You Can Afford to Buy and Sell Simultaneously

When you attempt to buy and sell simultaneously, there is a possibility that you will have to pay two mortgages for at least a short period. It’s important to talk with your Del Mar real estate agent before you begin the process and decide if this is feasible with your current financial situation. Knowing exactly where you stand will help both you and your agent determine the correct way to move forward. If you are in a precarious financial situation, you may both decide it’s best to sell your home first before looking at new homes for sale in Del Mar, or you may choose to hold off on both until your situation improves.  

Do you want to begin looking at homes for sale in Del Mar and also need to sell the house you currently live in? Reach out to an experienced real estate agent like Polly Rogers, who can help walk you through the process.


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My ultimate goal is to achieve a successful sale in the shortest amount of time, while attaining the highest return possible, with the least amount of stress, for the benefit of my buyers and sellers.
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