There is definitely an emotional side involved with selling your current home. Of course it’s exciting to think of the next steps for you and your family, but before you do that you need to let go of where you’re at, in more ways than one. Buyers tend to consider the emotional value of their home when getting ready to sell, which is one of the reasons why an experienced realtor is so valuable. Those first few days your home is on the market are critical and if your list price is more emotion then value based you’ll open yourself up to a false start. Keep your eye on the prize. The goal is to sell your home for a good price, and buy for great value. Veteran Realtors will give you the advice you need to buy and sell with confidence, giving you lots of tips and tricks along the way so you won’t have any regrets.

As well as connecting with a great realtor you’ll want to consider the financial aspects of moving. Have an experienced mortgage broker review your current mortgage and show you the options available to you as you move forward. Typically speaking the homeowners equity will serve as the down payment on the next home, but how much equity you need , or wish, to use is individualized. Perhaps you would like to use some of your equity to update your new home, or landscape the yard. Maybe even treat yourself to that trip your family has been thinking about. One size fits all does not exist in good mortgage planning, so be sure you work with someone who’ll take the time to listen to your goals and explore your options, positioning you well in several areas.

Along with a well thought out mortgage plan you’ll need to consider the ‘how to’s’ of transferring your equity into your new home. This is where having a broker with access to a variety of mortgage lenders will make your life easier. Some lenders will offer borrowers ‘bridge financing’ for the timeframe between your purchase and sale. Let’s say for example you will take possession of your new home on March 1st, but the sale of your current home will not complete until March 15th. For those 15 days the down payment for your new home is tied up in the equity of your current home. If you were positioned with a lender who does not offer bridge financing you would have to either arrange financing from a third party provider (which can be a costly scenario) or time the sale of your current home to happen prior to the purchase of your new home, rendering you ‘homeless’ for the duration. Don’t be caught unprepared in this area as the frustration will taint your overall experience and diminish the excitement.

Remember to notify your utilities providers, credit card companies and anyone else you regularly receive mail or services from well in advance. A mail forward from Canada Post can ensure those important bills don’t slip through the cracks while you’re getting settled. And have fun! More and more people are looking to share interests and activities within their communities, often selecting the community itself because of the amenities. Your community centre is a fantastic resource for upcoming events. Get out and make some new friends! A warm old fashioned plate of brownies will go a long way to get to know the neighbours, after all, who can resist chocolate!

Surround yourself a knowledgeable realtor and mortgage broker to ensure move up success for years to come!

Call today for free mortgage advice! Sharon Essington is an Accredited Mortgage Professional with Verico Canada First Mortgage and can be reached at 1-866-376-8250.