Florida’s Highway 30A is a sprawling, scenic coastal corridor that’s replete with fine luxury real estate. This coveted portion of the Florida Panhandle has inland and waterfront properties within a few miles of the lovely Point Washington State Forest. If you’re interested in purchasing a home in the area, there are plenty of great options available to you, from luxury homes to lots ready for building. If you’re going to sell your current home in 30A at the same time, you’ll want to plan carefully for the busy weeks ahead. Here are some tips that’ll help give you an edge when buying and selling 30A real estate.
Plan the logistics carefully
In addition to choosing a home and working out the financial details, you’ll need to plan the logistics of your purchase and sale carefully. One of the most important factors is how you’ll manage the timetable between buying and selling. Buying and selling both require a lot of steps, some of which can’t be expedited past a certain point, which means that you can’t control your timeframe down to the exact day. If it’s better for you, you may decide to proceed with your sale or purchase first and then initiate the other transaction after the first is underway. Otherwise, there’s nothing wrong with moving into the market as both a buyer and a seller at the same time. The most important thing is to proceed comfortably without relying on a strict timeline since there are variables beyond your control.
Stage your home before selling
Photo courtesy of Shutterstock
Have an idea of what you want to purchase
Since you’ll need somewhere to go after you sell your home, it’s a good idea to have your eyes on your next property before selling your current one. This isn’t a factor for those who’re merely buying and selling investment properties, but for your primary residence, this is an important factor. Those looking to move into a new home in 30A can choose between single-family homes, condominiums, and other properties for sale. There are also lots available for those interested in building their own custom 30A real estate. After looking through available 30A homes for sale, you can proceed with planning your purchase and moving process.
Make time for financial planning
Photo courtesy of Pexels
If you’re planning on financing your purchase of a new home with funds from the sale of your previous one, you don’t necessarily have to wait for your sale to close before initiating your purchase. For instance, you could use a bridge loan to use funds from your sale before the funds are actually available. Bridge loans allow financing on a flexible basis in case you buy a home before having cash in hand from selling your current home. This option is especially common among short-term property flippers, as this Financial Times article explains. You can also finance a home purchase with a HELOC (home equity line of credit) loan, which leverages your present home equity in order to finance your next real estate purchase.
Consult with a realtor throughout the process
Photo courtesy of Shutterstock
Coordinate with a local realtor for a smooth process
Working with a competent, qualified real estate agent should be your top priority when buying or selling property, and especially when you’re attempting to do both at the same time. Hilary Farnum-Fasth is a local realtor with access to a comprehensive listings database for single-family homes, condominiums, and other 30A real estate. She and her partner Jacob Watkins work to help their clients find the best luxury real estate in Northwest Florida. Call Hilary Farnum-Fasth when you’re ready to list or purchase 30A homes for sale.
*Header photo courtesy of Shutterstock