Are you giving some thought to upgrading to a larger, more spacious home or perhaps making a move to another neighborhood? If you own your home and need to sell it, you’ve likely given some thought as to what happens if your buying and selling events don’t align. Let’s take a look at a few strategies for bridging the time gap between buying a new Nashville home and selling your current one.
Selling Your Old Home Quickly is the Key
After you have moved into a new home you’ll need to sell your old one as quickly as possible. Of course, selling a home is ‘easier said than done’, but by working with an experienced real estate team you can get your listing up and start to get the process moving. Note that the Nashville real estate market has its warmer and cooler times like any other, so if you are trying to sell your home in the winter you may face a longer gap than if you were moving during the spring or summer. Contact our offices and we’ll explain things further.
Use Your Gap Period Wisely
If you have yet to list your home – or if you aren’t seeing the success that you would like with your current listing – you can consider this gap period as more of a blessing than a curse. Use this additional time to invest in upgrades that will boost your home’s ‘curb appeal’ and make it more competitive with nearby homes that are on the market. Consider high-impact upgrades such as new appliances for the kitchen, new fixtures in the bathroom and touch-ups to increase the look and feel of the master bedroom.
Short-term Tenants May Be the Answer
When you expect that your transition period may be a few months or more it might be worth considering renting out your old home to tenants on a short-term basis. You can either list your home on short-stay websites like VRBO or HomeAway to attract tourists coming to Nashville, or you can aim to bring in month-to-month tenants that live here in the city and are in need of short-term housing. Renting can be a challenge, so if you’re very busy or averse to putting your ‘customer service’ hat on from time to time you may want to explore other options.
Check with Your Bank if You Need Assistance
If you feel that you might need some short-term financial assistance to get through your transition period, give your banker a call. Bridge financing for homeowners is common and as you already own a home it’s likely that you will qualify for some help.
Remember – the shortest gap between buying and selling is one that doesn’t exist. The Nashville real estate experts here at the Armstrong Real Estate Group can help you sell your home quickly. Contact us today at (615) 807-0579 or by email through our quick contact form and we’ll share how our real estate sales approach will attract serious buyers as soon as your listing goes live. We look forward to working with you!