Sell First - Move into temporary housing - Buy new house - Move into new house.
- You will have to move twice, and maybe keep some of your possessions in storage.
- You will have to live in your house while it’s on the market (see details in Option One).
- You will have to search for temporary housing, which can be difficult in Portland.
- You will not receive a mortgage interest tax deduction while living in your temporary housing.
- You know exactly the price your home is selling for when you buy, so you know exactly what you can afford.
- You don’t need to be able to afford or qualify to purchase your new house without selling your other house first.
- 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.
- 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.