From Searching to Sold: You’ve Found ‘The One’—Now How Do You Buy It?

From Searching to Sold

You’ve Found ‘The One’—Now How Do You Buy It?

After countless hours scrolling listings, touring homes, and imagining your future, it happens—you step inside the one.  The layout feels right, the neighborhood fits, and you can already picture your life unfolding there. But before you start planning furniture placement, there’s one critical question: How will you pay for it?

In today’s competitive market, being financially prepared is just as important as finding the right home. Let’s break down the key financing options so you’re ready to move forward with confidence.

A Traditional Mortgage—Have You Gotten Pre-Approved?

Most buyers rely on a mortgage to fund their home purchase, but not all realize how important it is to get pre-approved before house hunting. A pre-approval:

• Helps you understand how much you can afford

• Strengthens your offer in a competitive market

• Speeds up the buying process when you find the right home

If you haven’t spoken with a lender yet, now is the time. Different loan programs offer varying interest rates, down payment requirements, and qualifying criteria—so knowing your options early can save you time and stress.

Using a Margin Loan Against Investments

For buyers with substantial investment portfolios, a margin loan can be a smart way to access liquidity without selling assets. This option allows you to borrow against your investment account at typically lower interest rates than personal loans or credit cards. However, it’s essential to set this up in advance to avoid delays or surprises when you’re ready to make an offer.

Selling Your Current Home to Buy—What’s Your Plan?

If you need the proceeds from your current home to afford your next one, you’ll need a solid strategy. Some options include:

• Bridge Loans: A short-term loan that helps cover the gap between selling your home and purchasing a new one.

• HELOC (Home Equity Line of Credit): If you have equity in your current home, you can tap into it for your next purchase.

• Selling First & Renting Temporarily: This ensures you have funds in hand, but requires a temporary living solution.

  
  

Contingent Offers—Are You Prepared for the Market?

In a competitive market, contingent offers (meaning your purchase depends on selling your current home first) are often less successful. Many sellers prefer buyers who are ready to close without additional conditions. If your plan relies on selling first, it’s crucial to discuss alternative options to keep you competitive.

Let’s Create Your Game Plan

Finding your dream home is exciting—but securing it requires preparation. Whether you need a mortgage, are leveraging investments, or selling your current home, having a financial strategy in place can mean the difference between winning the one or missing out. The Bill McGarrigle Team is here to guide you through your options and build a game plan so that when the perfect home hits the market, you’re ready to make it yours. Let’s talk—contact us today!