January 24, 2023 | Hilary Farnum-Fasth & Jacob Watkins

How to Sell and Buy Your Home in 30A at the Same Time!

How to Sell and Buy Your Home in 30A at the Same Time!

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.

A basic consideration is what to do with your belongings during the moving process. If you close on your new home before selling your old one, then you may be able to store your things at your new residence. Keep in mind, however, that you’ll probably want to start clearing things out of your home before you even begin the listing process. Therefore, it may be beneficial to have a plan for storing furniture and personal belongings if needed. If you’re an investor who isn’t living in your properties, you’ll likely still want to plan on having furnishings in your sale home for staging purposes.

Stage your home before selling

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When you’re planning on buying and selling at the same time, you’ll have to have adequate resources available in order to get the most out of both transactions. While making investments in a home you’re about to sell may not sound like a top priority, certain strategic moves can help you improve your sales results. First, assess your home for any cosmetic flaws, making repairs or repainting where necessary. From there, you’re ready to clean, declutter, remove personal items, and stage your home. Staging will help your home stand out in the eyes of buyers and may help facilitate a sale. For simple, effective staging ideas, check out this article from the National Association of Realtors (NAR).

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

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Financial planning is one of the most important steps in buying and selling a home at the same time. You may need to consult with your financial advisor, loan officer, or tax professional throughout the process. One of the best financial moves to make when preparing for any home purchase is to get pre-approved for a mortgage. This will help you expedite the purchase and start with a clear idea of your budget.

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

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You shouldn’t get very far into the process of planning a simultaneous home purchase and home sale without consulting with a realtor. Realtors arent exclusively interested in clients who’re ready to buy or sell. Rather, a good realtor will be willing to consult with you, answer your questions, and assist with planning as soon as you’re serious about entering the market.

If you’re planning on buying and selling within the 30A region, you’ll probably benefit from using the services of the same realtor or real estate firm for both transactions. If your realtor is familiar with 30A homes, then using the same realtor for both transactions makes sense.

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

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Why Hilary & Jacob?

Hilary Farnum-Fasth and Jacob Watkins collectively bring a mastery of new construction development, vast local real estate knowledge, proven negotiation skills, and a true mastery of the luxury market. The team is locally renowned and nationally respected for their elevated service, marketing, and unrivaled expertise in representing exceptional properties. As a result of their decades of experience, Hilary and Jacob have sold some of the area’s most significant homes while playing an integral role in shaping the built environment of the South Walton we know today.

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