I want to sell my house to buy another

11 Nov 2019

Buying a home is usually one of the most important decisions we face throughout life. For this reason, it is worth assessing all the characteristics that we hope to find in that new house. However, over the years the qualities of our ideal home may change if our circumstances are also different. For this reason, selling a property to acquire another is a great option if you are determined to make a change.

Whether it is for a change in your family, personal or work situation, you may be considering the option of selling your home to invest in a better one. To do this, you must know the steps to follow in order to get as benefited as possible from this transaction. First of all, our recommendation is that you sell your home before making any purchase commitment. It is important that you analyze the current situation of the real estate market in your area and evaluate the evolution of the area as well as its potential expansion. You can turn to a real estate agent specialized in the region to advise you. In Habitat Real Estate we have a great knowledge of the market in Costa Blanca Sur. In addition, in case you have a mortgage in your current home you will have to check with your bank the options offered to you: cancel the mortgage if you sell for a higher or lower price, subrogate the mortgage, bridge mortgage, etc.).

Another important aspect is to be realistic with the times; that is, coordinate the period between the sale and the purchase so that you have enough time to decide which property to acquire. If the purchase of a house after having sold another occurs within a period of less than 2 years, it is legally stipulated that a reinvestment in housing has been carried out.

When it comes to selling your house to buy another one, there will also be a forecast of expenses that should be taken into account to estimate the sale price and the budget for the purchase. Some of these expenses can be those derived from the sale of a house, the taxes of transmission of housing for the sale, the purchase expenses, possible renovation and moving works, etc.

It is essential that for the sale and subsequent purchase of a home be cautious and be informed of all the procedures and costs at each step. From Habitat Real Estate, we invite you to contact us to assess the possibilities of acquiring a new house selling your current home. You will find us in our main office in Los Montesinos (Alicante), info@habitatrealestate.net or by calling (+34) 966 720 250.

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