Buy Before You Sell
A common concern for homeowners is that if they sell their home first, they may not be able to find another home to buy. It is understandable with the low inventories currently available in most markets, but a strong argument can be made to buy your replacement home first. In fact, there are some advisors that would tell you not to sell at all. Instead, keep the home for a rental investment and refinance it to pull out some cash for the down payment and closing costs for the new one. Many homeowners recognize that their home has been an excellent investment for them. Their home may have outperformed their retirement and other investments. In all likelihood, homeowners understand the management and benefits of a single-family home far better than they understand stocks, mutual funds, annuities, or ETFs. Just as there are low inventories of homes for sales, there are shortages of available single-family homes for rent, as is evidenced by rent continui...