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How to Sell Your Current Home and Move Up in the Market: A Quick Guide

Moving up in the real estate market is an exciting step, but it requires careful planning. Here's a quick, actionable guide to help you navigate the process smoothly.

1. Evaluate Your Finances

- Get a Home Valuation: Determine your home's current value through a real estate agent's Comparative Market Analysis (CMA).

- Mortgage Pre-Approval: Speak with a lender to confirm your budget for your next home.

- Calculate Equity: Determine how much equity you'll have from your home sale to apply to your next purchase.

2. Hire a Real Estate Agent

- Local Expertise: Choose an agent who understands your market and can guide both transactions.

- Marketing Strategy: Ensure your agent provides professional photography, staging, and a solid marketing plan to sell your home quickly.

3. Prepare Your Home for Sale

- Declutter: Remove personal items to help potential buyers envision themselves in the space.

- Make Repairs: Address any maintenance issues and make minor upgrades to increase appeal.

- Stage the Home: Consider staging to show your home in its best light.

4. List and Market Your Home

- Price It Right: Set a competitive price based on your agent's recommendations.

- Use High-Quality Visuals: Invest in professional photos and virtual tours for online listings.

- Market Online: Promote your home across real estate websites, social media, and email campaigns.

5. Time Your Sale and Purchase

- Contingency Clauses: Include contingencies to protect against owning two homes simultaneously.

- Bridge Financing: Consider short-term loans if you need to buy before selling.

6. Coordinate the Transition

- Align Closing Dates: Work with your agent to synchronize the closing dates of both homes.

- Hire Movers Early: Book movers ahead of time to avoid last-minute issues.

- Plan for Gaps: Prepare for temporary housing or storage if needed between closings.

7. Settle into Your New Home

- Unpack and Personalize: Take time to settle in and make your new space feel like home.

- Explore the Neighborhood: Get familiar with your new surroundings and meet the neighbors.

Final Thoughts

Selling your home and moving up in the market can be straightforward with the right plan. For a seamless transition, work with an experienced real estate agent who can guide you through every step. Ready to make the move? Contact us today to get started!

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
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