Arcadia New Homes in Alexandria, KY
What do I do while I’m waiting for my new house to be built? That’s what we’re going to talk about in this video.
Hey guys, welcome back. This is Eric Sztanyo from Keller Williams Realty and TeamSztanyo.com. And today we’re actually live here in Alexandria, Kentucky. I’ll get a little pano here. We are in the Arcadia subdivision, where new homes are going up left and right. In fact, I’ve got new construction going on right behind me. You can probably hear the tractors like as I speak, as they’re putting in all these awesome, amazing, beautiful new houses. In this subdivision, there are Fischer Homes and there are Drees Homes going in.
What to do While Your House is Being Built
We just spent a couple of hours today talking to Fisher Homes reps and getting a great feel for their homes and all the options is that they offer for new buyers. But I want to talk about this idea of you decided that you wanted to buy a new house and what do you actually do in the meantime while it’s being built. There’s a couple of options. You guys hear that giant truck going by? So there’s a couple of options. One, if you’re living in a home right now or even if you’re renting, but if you’re living in a new home and you need to sell that home, and particularly if you need to sell that home before you can get the loan for the new house, how are you going to handle that situation?
Option 1 – Try to Time the Sale of your Current Home
The first thing you can do is you can wait and you can try to time it, right? So we had a previous video where we talked about how long is it going to take to build the home, somewhere in that five to eight month range. And so while that’s happening, you’re getting your house ready to list and to sale and you try to time it just right. Essentially where you’re working with a realtor who knows your neighborhood well, who knows how to sell, who knows what to do to get your home prep. You’ve got solid comps. You know what your marketing strategy is. You know what your list price strategy is, so that you feel confident that, “Hey, we’re going to get this thing under contract in seven days to two weeks. We’re going to time up the closing so that we can essentially close on the house we own and move into our new house in one move.”
In an ideal world, that’s might be what you want to do because you don’t have to move twice. You can stay in your home while you’re moving, or before you move, I should say.
Option 2 – Sell Your Home and Rent While Waiting for New Home to Finish Being Built
A second option, which I thought was really interesting. I just talked to the Fischer reps here who talked about this option is they will actually line up temporary housing for you while your house is being built. What do I mean by that? Well, they actually have relationships with different apartments and different rentals where you can, in the meantime, go ahead and sell your home or go move into this temporary spot and they’ve got it worked out where you can have a one three months, six month lease, or even month to month, so that it can be more flexible with the timing of your new home being built.
Now that might not be for everybody because you might not want to move twice. Let’s say you have kids, or it’s just difficult for you to move for whatever reason. But for some people that’s a really good option because you don’t have to get the timing perfectly down. You can be in this new space while your new home is being built. And then when it’s ready, you can move in and be super excited about it without all the stress of having to sell your previous house exactly at the right time. It gives you a little more flexibility in terms of not having that pay two mortgages at once maybe, or anything like that. Go ahead, sell your home, move into the apartment for a few months, and then when your new house is ready, you can move in.
Option 3 – Live With Your Parents 🙂
So guys, that’s what you do. Those are a few options on what you can. There’s many other options. I mean, you can always go move into your parents’ basement, right? I guess that’s another option, but we won’t talk about that as much. So, but it’s an option. Hey people, you do what you got to do.
So guys, this is Eric Sztanyo, again from Keller Williams and TeamSztanyo.com. We specialize in new construction home sales in Northern Kentucky and Cincinnati. We love to help buyers find their dream home and get them built and walk them through that process, and make sure they have representation on their side of the deal, not just working with the builder’s agents.
So give us a call, (513) 813-6293. Or go check out our website, TeamSztanyo.com. Check out our reviews, check out our testimonials. We love working with clients, and we love helping people find their dream home, and find the way home. Thanks so much for watching guys. We’ll talk to you next time.