Homeowners who decide they’re ready to become move-up buyers face a dilemma: Should they sell their current home first and then buy another, or buy a new one and then sell? The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that the answer depends on several factors, including your local market conditions, your financing options and your feelings about potentially moving twice if you sell your home before your next residence is available. You’ll have to ask yourself what scares you most: selling first and having nowhere to live or buying first and being stuck with two mortgage payments. The answer depends on your finances and your local market, but in either case you should have a back-up plan to deal with the worst case scenario – either another source of income for those mortgage payments or an identified place to live for a few weeks or months while you shop for a home. Check out below to see what sold in Lakes of Northville in June 2015:
17485 Farmcrest Lane, Northville: 4 bedrooms, 3.1 bathrooms, 3,421 total sq. feet, 2 car garage, Sold Price: $405,000
Lakes of Northville Home Sold
June 2015
If you can qualify for the mortgage loan on both your current home and the next home, you can access the equity in your current home with a line of credit. For more information on Lakes of Northville, or similar Northville or Novi neighborhoods such as Roma Ridge, Turtle Creek and Northville Colony Estates, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.