Move into temporary housing - sell old house - Buy new house - Move into new house.
- You don’t have to live in your house while it’s for sale (see details in Option Two).
- You know exactly the price your home is selling for when you buy, so you know exactly what you can afford.
- You have the funds in hand from the sale of your old home when you purchase your new home.
- You can take your time to find the house that you want to buy while you live in your temporary housing.
- You have to move twice.
- You will have to search for temporary housing, which can be difficult in Portland.
- You will have to pay both rent and a mortgage until your old house sells, you find a new house, and wait to move into the new house. This process could be many months.
- You will not receive a mortgage interest tax deduction while living in your temporary housing.
- Willingness to move twice.
- Willingness to live in temporary housing.
- Willingness to put off finding a new home until the old home is sold.
- Willingness to sell your old house regardless of what will be available to buy once it’s sold.
- Ability to pay rent and mortgage for as long as it takes to sell your old home and buy your new home.