
How to Manage the Stress of Buying and Selling a Home at the Same Time
For many homeowners, the thought of selling one home while buying another is overwhelming. Coordinating two transactions, managing timelines, and keeping finances in check can quickly lead to stress. In fact, according to the National Association of Realtors (NAR), one of the top stressors for homeowners is timing – trying to buy and sell at just the right moment without being temporarily homeless or juggling two mortgages.
Why Is It So Stressful to Buy and Sell at the Same Time?
Here are some of the top reasons homeowners feel overwhelmed during the process:
- Coordinating Timelines: Ideally, you’d sell your current home just as you’re ready to move into the new one. But often, there’s a gap, which can leave you without a place to stay or make you carry two mortgage payments.
- Managing Finances: Not having the funds from your home sale in time to purchase the new one can lead to renting in the interim, tapping into savings, or taking out short-term loans just to bridge the gap.
- Emotional Pressure: Moving is one of life’s most stressful events. Adding in the complexities of selling and buying simultaneously only increases the pressure.
How One Amtrak Employee Made It Work
Sarah K., an Amtrak employee, faced this challenge when she decided to sell her home and move closer to family. She was nervous about handling both transactions. But using her employee homeownership benefits made a huge difference.
“When I decided it was time to sell my home and find something closer to family, I knew it would be a complicated process. But using my company’s homeownership benefits program made everything so much easier—and saved me a lot of money in the process!”
Sarah was connected to a program-approved real estate agent and mortgage professional who introduced her to a special program that allowed her to buy her next home without needing to sell her current one first. This option was a game-changer, letting her move into her new home without rushing to sell.
“I didn’t have to worry about selling my house before I could move into my new one. That flexibility meant I could take my time getting everything set up and avoid the stress of trying to time everything perfectly.”
How Your Employee Homeownership Program Can Help
If you’re considering selling your home and buying another, your employee homeownership benefits can help by offering:
- Free Financial Consultations: Get a clear picture of your budget and timing before listing your home.
- Access to Special Programs: Financing options allow you to buy without waiting to sell your current home.
- Reduced Fees: Enjoy lower closing costs and reduced real estate commissions.
- Expert Guidance: Work with vetted agents experienced in handling complex transactions.
Tips for Reducing Stress When Buying and Selling Simultaneously
- Get Pre-Approved Before You List: Having a pre-approval in hand means you’re ready to make an offer as soon as you find the right property. Through your benefits, you can access free pre-approvals and additional guidance.
- Use a Bridge Loan or Special Financing: These programs can help you tap into the equity of your current home to secure a down payment on the new one before you sell.
- Work with a Program-Approved Agent: Not all agents can handle the nuances of simultaneous buying and selling. Using a program-approved agent ensures you have someone who understands your goals.
Bottom Line
Buying and selling a home at the same time is challenging, but it doesn’t have to be overwhelming. By using your employee homeownership benefits, you can save money, reduce stress, and gain more flexibility.
Thinking about making a move?
Reach out today to schedule a free consultation and learn more about the unique options available to you. Let’s make your next move as seamless and cost-effective as possible!