Purchasing Before Selling

[irishamr]

Are there a lot of homes purchased in The Villages before previous house has sold?

Thank you for your help on this. irishamr

[zcaveman]

I did . But that was back in 2001 when the housing market was still pretty good.

[Herb]

I did it and it's a tough call. However there is no housing market where I live now and I'm gambling that in 2 years it will be better. Found a good deal in the villages and I'm in a hurry to start my new life. So it's bread and water for a while. :) good luck, Herb

[samhass]

I did, also.

[Mikitv]

:dontknow: :dontknow: Not sure what's good for you:


It's a slow market here and has been for awhile so we will have to sell before we can purchase. Can't risk having two mortgages. We've moved alot and have always sold first then bought. Just our point of view.

[samhass]

If you can't swing both homes for the long term, then absolutely sell first.

[ConeyIsBabe]

My gambling days are over and I go for the "sure thing" now; I'll sell FIRST and then rent for a year before I buy !

[storchia]

Irishamr,
We got a +40K discount on a new house and bought before we sold. That was in November. If the market was tough in November, it is even tougher now. We are in El Paso. If you can't afford two loans, sell first and then buy.
Wish you luck.

[SteveFromNY]

I bought in '05 and am selling (well, trying to) now. It definitely has me married to the mortgages. We mitigated the carrying expenses in TV by renting thru TV Property Mgmnt. I'm not sorry I did it, but it turns out that the prices haven't risen much since '05 (I'm guessing 10% on a good day). I could have sold first and then bought and not been in a much different financial place. However, I have had 3 years of visiting my home as frequently as possible and experiencing TV that I'd have missed if I hadn't bought in '05.

[Boomer]

Run the numbers. -- all the numbers.

Can you afford both homes? --for how long? If you can afford two homes for what could possibly be a long time, ask yourself how long you want to use your money in that way.

If you are feeling rushed into buying, step back a bit and take a deep, deep breath.

Do what is called the "Ben Franklin" by listing all the pros and cons. This includes going beyond just doing the math. List everything associated with owning two homes that you can think of. --all the disadvantages but all of the advantages, too. See how your lists work out and take it from there.

It's different for everybody. Know thyself.

Good luck with your decision.

[ouma1938]

I would love to just go ahead and buy in TV before selling but we are too chicken. The fear of having to hold on to the old house for a long time would make our start in TV less than the joyful experience we want it to be. So for us, its trying to keep cheerful as we get the house here sold. We do this by dreaming and talking about TV incessantly.

[Village Kid 2]

I bought my "little Villages house" in 2005. Luckily I can get there in 3 1/2 hours so I have lived a commuter life the last three years. Wouldn't trade my time there for anything! However, now that retirement is close (June) the "other" house is on the market. If it doesn't sell by summer, I can rent it (not hard to do in a college town).

My original plan was to buy an inexpensive home in TV while carrying two mortgages and then trade up when the "other" house sells. But, I have come to love the little house on the Historic side and may just stay there. It is a personal decision each of us makes depending on our own circumstances. I wouldn't change anything I did except maybe sell the "other" house sooner before the market changed. But who knew?

[Barefoot]

As a real estate broker I can tell you that the sorriest people I ever had to deal with were those who bought firm without selling their house. Talk about sleepless nights, bridge loans and second mortgages.

If money is a concern, definitely sell first and then buy. If money is not a concern, this is a great time to purchase in TV. Go for it!

As far as your present property goes, all houses sell if priced property, reflecting current market conditions. A lot of owners are just plain overpriced for the market. If you are willing to accept market value for your home, you will have no problem selling.

Once you sell your home, you will know exactly how much money you have to spend. You can negotiate owners down in TV, buy firm, and get a bargain.

Good luck!

[JohnN]

what ouma1938 said... we own our house, can likely take a mortgage out and manage it, but.... it's tight and it's money. When we can stay at TV a majority of the time and are ready to sell (our market's not so bad, actually), we MIGHT.

Run the numbers and don't get too emotional about waiting.

[The Great Fumar]

We have a home in Chatham and one in Michigan on a lake ........We can just make it by cutting out the Wife's beer .............
Its an old joke and doesn't really apply but I just had to throw it in.....

SELL FIRST THEN BUY..
Its an old Chinese proverb that still holds today,,,,,,,,

an old Fumar

[samhass]

Ahhhh...ancient Fumar is wise man.
BTW, Fumar, I saw no "NoFumar" signs outside of Crispers. When are you going to
honor us with your presence at one of the TOTV meetings?

[MMC24]

Sold up north first then bought in TV before the mortgage crisis hit. Sure wish I had rented in TV for a while instead of buying right away as the prices now are much better. Could have saved about $30 to 40K. Hind sight is always 20/20.

[JohnN]

fumar, that's a great idea, I think cutting out the wife's beer will swing the scales.
Let me go and try that idea on her.... LOL

[Barefoot]

Sold up north first then bought in TV before the mortgage crisis hit. Sure wish I had rented in TV for a while instead of buying right away as the prices now are much better. Could have saved about $30 to 40K. Hind sight is always 20/20.


I've had that same thought .... if only we'd waited, we'd have saved tons of money. :dontknow: But I've had the joy and the privilege of living in TV for four months now with my animals! Making new friends, and storing up memories to take back to Canada. I don't regret it one bit, I've had the most wonderful time of my life. Every day I wake up joyful. I've had a wonderful time, life is too short to postpone living in paradise.
Enjoy it now while you have your health!! :bigthumbsup: