You want to buy a home, but you don’t want to live in temporary housing. You want to find the perfect home before you move out of your current one. Maybe you need more space for an extra family member or a home office. Or maybe, it’s the opposite; maybe your kids are moving off to college, and you no longer need your 3,500 square foot home.
Before, your only choice was to write an offer contingent on the sale of your own home. That’s not an option today; the market is too strong. Instead, we have signed up with a company that will help you purchase your new home, get moved in, and put your current house on the market after.
“Writing a contingent offer is not an option today.”
Most people think they can do this by themselves, but two issues come up: your debt-to-income ratio and liquidity. Your debt-to-income ratio is all your recurring expenses divided by your gross monthly income. That number needs to be 43% to 45%, or the lender might not approve you for a loan. As for liquidity, you need to put money down on your new home, but for most, all their money is tied up in their current home.
This company helps us solve both of these issues. Don’t wait to list until you buy; that timing is not working anymore. I’d love to talk with you more about our solution. Just call me at (972) 955-3792. I look forward to hearing from you.
