Are you feeling cramped in a once-perfect home? Life changes—whether it’s welcoming another baby, an older child moving back home, or a parent or family member joining the household. With our new normal of working from home, you and your kids might need more space to work and live comfortably.
Setting up a workspace in a dining or family room can be a hassle, often leading to distractions. Over the past few years, it’s become evident that we all need more space—a bigger house with a dedicated office or a flex room for both learning and earning.
But here’s the catch: you’re not alone in this search for more space, and with low inventory, the real estate market is competitive. This is great news if you’re selling your house, but it raises the question: should you list your home first or buy a new one first?
Navigating a busy seller’s market with low inventory can be a real challenge. From our experience helping people buy and sell in Collin County for over 10 years, We’ve found successful strategies to manage this tricky situation.
In a seller’s market, sellers are unlikely to accept contingencies, especially if your home isn’t listed yet. Fortunately, there are some great options for sellers:
- Seller Leaseback: This allows you to stay in your house after closing for a negotiated amount of time, giving you the flexibility to find and close your new home.
- Extended Escrow Period: Closing in 60 days rather than the usual 30 can provide you with a bit more time on the buying side.
These strategies can be incredibly helpful when making an offer on your new home as well.