How to Avoid Carrying 2 Mortgages

Don’t get trapped paying two mortgages! Here’s what you can do to avoid that situation.

If you want to buy another home, what should you do with the one you already have? You
definitely don’t want to be stuck paying two mortgages (not to mention taxes, insurance, and
utilities for each), so there are a couple of options you have.

You can rent one of the properties; some of that income will count toward your new mortgage.

If you don’t want to rent, you can simply sell the property. So you don’t end up without a place
to stay in the meantime, we can find with a buyer who will allow you to rent while you search for
a new home to purchase.

Either way, you don’t want the burden of two mortgages on your shoulders. If you’d like some help navigating this process, would like more information, or have any questions, reach out to us. We look forward to hearing from you soon.

Which Houses Are Selling the Most?

To answer the question of which homes are selling the most, we first need to look at who’s buying.

Millennials now make up 45% of homebuyers. This means entry-level homes are moving quickly.
If your home falls in a category that millennials can afford, you’ll find yourself in the perfect market
when you decide to sell.

Generation Xers make up 37% of buyers, and they’re buying in the $400,000 to $500,000 range.

Baby boomers are still 17% of the homebuyers in our market—this generation has the most money,
but the high-end price range tends to be slow because there is such a small percentage of
these buyers.

If you’re looking to buy or sell, need more information, or have any questions, feel free to reach out
to us. We look forward to hearing from you.