6 Common Mistakes to Avoid When Moving to a Larger Home

Upgrading to a larger home is an exciting step, but it comes with unique challenges, especially if you already own a home. From coordinating sales and purchases to managing finances, there are a lot of moving parts. Avoiding common pitfalls can save you time, money, and stress.

Here’s a breakdown of 6 mistakes to watch out for—and how to avoid them:

1. Letting “Dream Home Fever” Take Over

It’s easy to fall in love with homes that may not fit your budget or needs. Instead of taking a hit-or-miss approach to house hunting, consider working with an agent who offers a Buyer Profile System. This service matches your preferences with all available homes and provides regular updates, helping you focus on realistic options while still finding the home of your dreams.

2. Skipping Important Home Improvements Before Selling

Small upgrades can make a big difference in how buyers view your home. Even minor investments often pay off tenfold in your final sale price. If funds are tight, explore options like an equity loan that can be repaid after closing. A little effort upfront can mean a faster sale and better offers.

3. Buying Before Selling Your Current Home

It’s smart to sell your home before buying the next one to avoid feeling pressured during negotiations. If you find a buyer but haven’t secured your next home yet, consider adding a contingency clause to the sale contract, allowing you time to find your new place. Alternatively, work with an agent who offers a Guaranteed Sale Program—this ensures your current home sells before you take possession of the next.

4. Skipping Preapproval for Your Mortgage

Preapproval is simple and gives you a clear budget, making your offer more attractive to sellers. A preapproved mortgage assures sellers you’re serious, which can sometimes tip the scales in your favor, even if your offer is slightly lower than others.

5. Getting Stuck in the “Real Estate Catch-22”

The biggest challenge when buying and selling is deciding which to do first. Selling first often makes sense, but some agents offer Guaranteed Sale Trade-Up Programs to take the stress out of the equation. These programs ensure your current home is sold, so you can confidently purchase your new one.

6. Failing to Coordinate Closings

Juggling two major transactions can be tricky. With mortgage experts, appraisers, lawyers, and inspectors involved, miscommunications can happen. Avoid logistical headaches by working closely with your agent to streamline the process and ensure everything stays on track.

By being aware of these common mistakes and partnering with the right agent, you can make your move to a larger home smoother, faster, and far less stressful. Stay informed, stay prepared, and enjoy the excitement of finding your new dream home!