How Do I Move Without Being Homeless in the Process?

Another successful closing and another client with nowhere to live. KIDDING.

But if you own a house and need the money from that house to buy the next one, I know this is where your brain goes.

What if we sell our house and can't find another one? Where are we supposed to go? Are we moving into a hotel with the kids, two dogs and everything we own?

I completely understand why people get stuck here. Selling your house without knowing exactly where you're going next sounds stressful, especially when the money tied up in your current house is what you need to buy the next one.

Thankfully, selling first and hoping everything works out isn't our only option. We can look at the numbers, what you're trying to buy and what's happening in the market, then decide how we want to approach both transactions.

Buying Before You Sell

Before we assume your house has to sell first, I want you to talk with a lender and find out what you can actually do.

Some homeowners can qualify to purchase their next home while they still own their current one. There may also be financing options available that give you more flexibility. I leave that part to the lender because they're the ones who can look at your finances and tell us what's possible.

If buying first works for you financially, it can make the move itself a lot easier. You can buy the new house, move in and then get your current house sold without trying to coordinate two closings and a moving truck on the same day.

Not everyone can or wants to carry two homes, though. If that's not an option for you, we keep looking.

Making an Offer Before Your House Sells

We can also look at making an offer that's contingent on the sale of your current home. You can find the house you want to buy while still owning yours, but your purchase depends on your home selling.

Whether that works depends a lot on the market at the time. If your house is already under contract, we're in a different position than if we haven't listed it yet. We also have to look at what's happening with the house you want to buy. If that seller has several offers to choose from, our approach may need to change.

This is something I want to look at based on what's actually happening when you're ready to move, rather than ruling it out before we've even started.

Selling First Without Moving Out Right Away

Another possibility is selling your house and negotiating some additional time before you have to move out.

When the buyer is willing and we can agree on the terms, that extra time can give you room to get your next purchase closed without everything needing to happen on the same day.

We can't assume a buyer will agree to it, so I don't want this to be the only plan. But it's something we can ask for and consider when we're deciding how to structure your sale.

There are also situations where temporary housing really does make the most sense. I know moving twice with kids, pets and everything you own doesn't exactly sound appealing. For some people, though, having that extra time means they don't feel pressured to buy a house they don't really want simply because they need somewhere to go.

I would much rather plan for that possibility ahead of time than have you feel backed into a corner after your house sells.

And Sometimes We Wait

We might look at your equity, talk with a lender, see what's available and realize moving right now would make everything harder than it needs to be.

Then we wait.

Maybe you're looking for something really specific and there isn't much available. Maybe buying before selling isn't comfortable financially. Maybe you absolutely do not want to move twice and we'd rather wait until we have a better path from one house to the next.

Having this conversation doesn't mean your house needs to go on the market next week. We can figure out what would have to happen for a move to work and leave it there until you're ready.

Figure This Out Before You List

If you know you need to sell in order to buy, I want to start with the house you already own.

Let's look at what it could realistically sell for, what you still owe and approximately how much equity you'd have to work with. From there, we can bring in a lender and look at the price range you're considering for the next house.

Once we know those numbers, we have something real to work with. Maybe buying first is possible. Maybe we need to sell first. Maybe a contingent offer makes sense. Or maybe you look at everything and decide you're staying put for another year.

You don't have to know the answer before we have the conversation.

So no, my plan is not to sell your house and wish you luck finding somewhere to sleep.

If you've been thinking about moving but the whole "we have to sell this one to buy that one" part is stopping you, click the link below to schedule time on my calendar. And if you need help finding a time on my calendar, just respond and let me know.

— Larissa Butler, Realtor® | Keller Williams Realty

Click below to get on my calendar and start the conversation. Click Here

Written by Larissa Butler, a top female Realtor serving Pierce and King County, Washington. Recognized for her data-driven marketing and focus on empowering women through homeownership.