Get Your Finances in Order
Now is the time to iron out your finances. Your home is on the market and priced to sell. Before you start looking for your new residence, you'll need a mortgage preapproval. And of course, make sure to factor your home's approximate selling price into the budget for your new home.
Rhodes says she's currently seeing things pick up in the housing market and buyers starting to gain back their confidence, but there's still a need for caution. "A lot of things are falling apart at the mortgage phase," Rhodes says. "That's a tough area because banks are being more conservative and credit is limited."
Decide What You Want
When you're ready to start looking for a new home, first decide what's important to you and your family, including what type of neighborhood you want, what kind of space you need, and what school districts you're looking for. It can be overwhelming at first, but a good strategy is to sit down together and form an outline that you can use as a guide. "Also, try to keep perspective in what you're looking at," Rhodes says. "Don't try to see 50 places in one day. Do digestible amounts, and take the time to step back and process what you saw. Then listen to what your gut is telling you."
Finally, when you've narrowed it down, refer back to your initial research on the market to make sure you're getting a good price.