There is no dearth of people who wish to move on to a new house and it could be less tedious than buying the first one. Yet there are various aspects to it that one should take care of. Understanding the basics of moving to new house is therefore essential part of the process of moving to the new house even when it is larger in size to what you have today. Realtor writer Dawn Barrier attempts giving tips on buying and selling houses.
Emphasis placed by Barrier is on the savings to be made while buying a house and profits to be incurred while selling one. In the process he has pointed out that lot will depend on the tenant from whom the house is being purchased, the condition as well as the location of the home, including the price of the home.
In his tips, Barrier has overlooked an important aspect of real estate about considering the 1031 tax-deferred exchanges could be the right way of getting into the process of such buying and selling houses. Using the process an investor can defer the taxes on sale of rental homes through an exchange. A tip or two on this could have been more useful.
Barrier however is right when he asserts that moving to new house involve perfect assessment of one’s purchasing powers and also the assessment of buyer’s buying capabilities. Buyers should not overshoot their capabilities to pay that could land them into big credit problem while sellers should not be in haste of selling without assessing what the best buyer could pay.
Another pertinent tip is on the emotional attachment of the seller with the house they are going to dispose. In such cases the consideration would be whether it is possible to buy the new house without disposing of the old one. The answer to this basic question would determine whether one should buy or sell first. And it is a logical conclusion at which the writer arrives at.