Has your family situation changed? Is the home you’re in not quite right but you choose not to sell because you just ‘make it work’? Why… The biggest argument seller’s have is that they are afraid they won’t find a replacement home. Even in a tight market where there is low inventory, the perfect home can be found without the stress of possibly being homeless.

If you find the perfect home, would you be able to buy it without selling the home you’re in? If so, that is a wonderful position to be in. However, if you need the equity from your home, you either need to borrow against the home or sell it first. Most sellers aren’t going to want to accept an offer from someone who hasn’t got their home on the market. A contingent sale, one where the buyer needs to sell before they purchase, is almost impossible for a seller to accept. It will hold them up with the purchase of their next home.

The challenge a lender has is managing your debt to income ratio. If you own one home and want another, they will want to take the debt/mortgage payment, taxes and insurance you have there and factor it in. There are lenders, however, who will allow you to be pre-approved and not take in to account your primary residence debt so you can go off and write offers with confidence. In some situations you may even be able to keep the home as a rental, if you choose to.

So get out there and find that dream home!! What are you waiting for!!?