Buying a New Home After Selling your Existing One

 

Buying a New Home After Selling your Existing Home.

While mortgage is one option, you could also consider selling off your existing home and use the money to purchase a new house. Sometimes, retirees or those who plan to retire in the near future opt for this choice. You will get ready cash to purchase a new home through the sale of your existing house. Through this process, you may not have to take out a mortgage from a lender.

But there are certain economic factors that you have to take into account before you decide to sell your existing house. A slump in the real estate might make it difficult for you to get a desirable sale price for your existing house. You could be faced with a shortfall of funds for financing your home after retirement. In this regard, the current slump in the US real estate market is worth a study.

In case you would like to learn more about the various “housing-related” plans, offered by the US government, we suggest that you visit the section on “Housing” at the “GovBenefits” website at, www.benefits.gov