It’s a downsizer’s dream to be able to purchase that smaller home or condo before selling the current one. After all, who wouldn’t jump at the chance to move at your own pace, avoid a second move into temporary quarters with a houseful of furniture to store and sell your old home from the comfort of your new digs?
The problem is, most of us will need to tap the equity in our current home to make this downsizer’s dream come true.
Can it be done? Absolutely. There are a handful of financing and real estate options that can reverse the normal sell-then-buy scenario. But it takes timing, planning and some financial guidance to buck such an ingrained system.
Here are five strategies to master the downsizer’s waltz.