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Introduction
If you’re planning to buy a home — especially while selling your current one — preparation is key. From understanding your finances to lining up the right timing, a little planning upfront can make the whole process smoother and less stressful. Whether you’re wondering when to talk to a lender, how pre-approval works, or whether to buy or sell first, this guide will walk you through what to know and what to expect.
1. Talk to a Lender Early
Even if you’re a few months away from buying, speak to a lender now. They’ll help you understand your borrowing power, review loan options, and identify any financial steps you should take before applying. These early conversations reduce surprises and give you time to prepare.
🌟Need help finding a trusted local lender? Feel free to reach out — I’d love to connect you.
2. Get Pre-Approved for a Mortgage
After speaking with a lender and reviewing your financial picture, your next step is to get pre-approved. This is not optional — most sellers won’t consider an offer without a pre-approval letter.
Pre-approval shows you’re financially qualified to buy, confirms your budget, and gives you the green light to make an offer when the right home comes along.
3. Do You Need to Sell First — or Buy First?
There are pros and cons to each — here’s what to consider before deciding which is right for you.
Selling First
Pros:
- Know your buying budget
- Avoid two mortgages
- Stronger offers
Cons:
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May need temporary housing
Buying First
Pros:
- Avoid rushed buying
- Control move timing
Cons:
- May need savings or extra financing
- Offers might need to be contingent
🌟If you’re unsure which path is best for your situation, I’d be happy to walk through the pros and cons with you.
4. Bridge Loans: A Possible Solution
A bridge loan lets you use the equity in your current home to help finance your next one before you sell. This option is best for buyers who are financially secure and want to move fast — but don’t want to make a contingent offer.
Bridge loans can carry higher interest rates and fees, and they aren’t right for everyone. But in the right scenario, they can reduce stress and improve flexibility.
5. Plan Your Timing
Make sure your timeline lines up with your personal and financial comfort level. Ask yourself:
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How long will your current home take to sell?
-
Are you comfortable paying two mortgages for a short period?
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Do school or job schedules affect your move?
Clear answers help you — and your agent — map a plan that fits your life.
Final Thoughts
Understanding how to get ready to buy a home before you start touring is key to a smooth process. A clear financing plan, early lender conversations, and a smart strategy around selling or buying first will give you confidence.
If you’re starting to plan your move and need a trusted local lender, I’d be happy to connect you with someone I work with regularly. Just reach out — I’m here to help.
