You've heard the news. The Colorado real estate market is intense out there. There is very little inventory and therefore the buyers who need homes are fiercely competing with one another to make sure they get to call one of them their own.
This fierce competition has peaked the curiosity of many homeowners about whether or not they should sell their home in 2022. It is clear that their home is very valuable. But one lingering question keeps popping up and creating hesitation.
"I want to sell, but where would I go?"
Today, we will check out answers to that very question and ways to navigate becoming a buyer post sale.
Move into your own rental property
Are you an investor? Perhaps moving into your rental and selling your current home is the smart option for you to get the most out of selling a home. You already know the home and know its value and know you could make it work.
Explore new spots short term rentals
Check out websites like AirBNB or VRBO and find some short terms rentals in areas you may want to live in. Explore the area, eat at the restaurants, see the sights, meet the people. This is a wonderful option for those of you who may want to branch out, but just aren't sure where your next home should be.
Move into a luxury rental
It may not be a single family home with a perfect yard, but why not enjoy some luxury while you wait to find your forever home. A luxury rental community might just be the way to go for a short term solution!
Live in a fixer and become a flipper
Grab yourself a home that needs some TLC. Fix it while you live in it, and then sell it later for the profit it, and you, truly deserves. Channel your inner HGTV superstar and let your creativity flow!
Move in with family or friends
This one may not be possible for everyone, but it certainly could be a short term solution to buy you some time and help you save money for your next down payment.
Build first, Sell later
Many home builders have homes that are ready within just a few months from now due to them changing how they do things. Many communities have dropped the design center and have picked the finishes for you. This allows the builder to avoid shipping delays and closing date push backs. This is a wonderful option to get a gorgeous new home, have some time to prepare your current home for sale, and come out winning on both sides.
Buy first, Sell later
If you have the means to carry two mortgage payments for a month or two, this is another extremely viable option. You can also ask your lender if they have any products that may work for this scenario and see if you have options to make this work.
Summer is just around the corner. Have you ever heard of the Camino de Santiago or the Applachian Trail? If not, check them out and may spark your desire to get out and see the world after you sell your home. There are so many possibilites, even if they don't include backpacking across a county! Let your dreams run wild.
All in all, you DO have options. You DO have places to go. And if none of these work, you can always reach out to us to help you coordinate your buy and sell at the same time. We are happy to help however we can and find the solution that makes the most sense for your unique situation!