It pays to sell home before buying another

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

An Oakland, Calif., couple had wanted to change their lifestyle for years. Like many people who want to make a move from the home they own to another they hope to own, this couple put the cart before the horse. They started by researching what it would cost to buy the next home before investigating how much cash they would net from the sale of their current home. When they consulted with a local real estate about the probable sale price of their current home, they discovered that it wouldn't sell for enough to enable them to afford the lifestyle they envisioned. So, they delayed their relocation plans. They hoped that the housing market would improve and their house would sell for more during the next year. Unfortunately, the resale market in their area took a downturn, putting them further away from their dream. Fortunately, however, they did not buy the dream home last year before selling their current home. This would have been a risky move financially. HOUSE HUNTING T...