Trading up in metro Atlanta. One budget, two closings.
Choose the order before you choose the home.
Trading up in metro Atlanta: the rate you'd give up
Trading up, or upsizing, in metro Atlanta often starts with a house you love, a look at the payment and a closed tab. Right behind it comes the harder question: "What if we give up our low interest rate and regret it?"
We can't tell you where rates go. NRG Nguyen Realty Group plans your sale and your purchase together, with the payment you have beside the one you'd take on, so you can answer that question with your own numbers. Sometimes those numbers say stay, and we'll tell you.
One buyer we worked with wanted to be done with Georgia Power, and they assumed a home in Kings Cove would get them there, since it's in Cobb and the next street had Cobb EMC. Checking a power company isn't a usual part of buying a home, but we heard their comment and looked. The home was on Georgia Power. The monthly math changed. They were comfortable with it, and they bought knowing the number. We want the same for you: the real number in front of you, whichever way it goes.
Still deciding whether to move at all? That's what the Next Chapter Strategy™ session is for. Maybe you bought at a low rate, you need to move, and you can't tell whether it's a good financial decision. It's a conversation about your options and next steps, including whether a sale makes sense at all.
Start with what has changed.
More than two prices: what the space between them leaves out
A move is easy to plan from two numbers: what your home might sell for, and what the next one is listed at. The space between them leaves out four things.
- What you keep from the sale. The price, minus your loan payoff and the costs of selling.
- What it takes to close on the purchase. Closing costs and prepaid items sit on top of the price.
- The gap between the two homes. Measured in weeks, and paid for in rent, storage, a second payment or a second move.
- The monthly cost of the larger home. Taxes, insurance, utilities, upkeep and any dues, long after both closings.
Each of these can be estimated before you list. All four fit on one page, and our team builds it with you. Before you tour, you'll have a price range built from your own numbers. Trading up is most of what we do.
The order: more paths than two
Choosing the order after you find the home means choosing it with an offer deadline on the table. We would rather have that conversation first.
It starts with a discovery call, where we learn what's causing your move and listen to your goals. If you're also buying, we connect you with a lender if you don't have one, so you can ask whether it's possible to carry two mortgages for a time. If it is, the path is usually simpler, because you have the flexibility to get into your next home and then put this one on the market.
At times, qualifying to purchase before selling may not be possible, and that's okay. Your timing and your situation then shape the strategy. If you need to sell before you buy, we work out how to list your home while you look for the next one, then line up back-to-back closings. We also look at bridge loan options and buy-before-you-sell products, with the numbers and the costs in front of you, so the move can be less stressful.
Here are the paths we'd compare with you.
- Buy first, then sell. You move once, and you carry two homes for a while. The down payment has to come from somewhere other than the sale, so ask your lender which options could make that possible and what each one costs. Not every buyer will qualify.
- Sell first, then buy. You know your real proceeds and you aren't carrying the old mortgage. The cost is a place to live in between.
- Use temporary housing. A short-term rental means two moves, and it can keep you from rushing into the wrong home.
Back-to-back closings: counting back from the day you need the keys
Back-to-back closings start from one date: when you need to be in your next home. Then we count backward. Once you've found a home and you're going to close, we count back about 30 to 45 days. Once your current home goes under contract, we plan on about the same. Before that is its time on the market, which we plan from the days-on-market numbers and our listing strategy. Before that comes the preparation your home needs. These are planning numbers, never a promise of your dates.
Home sale contingencies: what makes one easier to accept
A contingent offer depends on your own home selling by a set date, so some sellers say yes and others may not, especially when a home has several interested buyers. You can't remove that risk, but you can reduce it.
- Have your current home ready before you write the offer. A home already under contract is stronger still, because a buyer is in place.
- Get fully approved, and ask your lender to explain in writing how your current home factors in.
- Keep the timeline short and realistic.
- Make the rest of the offer strong: a fair price, a reasonable due diligence period, solid earnest money, and flexibility on the seller's closing date.
We've written both kinds: a purchase contract with a sale contingency, and a sale that was contingent on our sellers finding their next home.
Read the deadlines and the earnest money terms with us before you sign, and ask a Georgia real estate attorney if anything isn't clear.
How our team plans it: both sides at once
Once you've talked with a lender, the numbers come in this order.
- Price your current home from recent closed sales near you.
- Request a payoff estimate for each loan on the home, including any home equity line.
- Estimate your proceeds, with room for repair requests and the preparation you pay for ahead of the sale.
- Choose your order, and write down what the gap costs in weeks and dollars.
- Ask your lender to run an estimate of what the next home could look like, even before there's a house, and settle on a down payment that leaves a reserve. You'll get the Loan Estimate once you have a home in mind.
Your numbers come to the strategy meeting, and we go through them thoroughly there. That meeting is also where we cover the buyer agreement, since we don't tour without one. If you're paying cash, you can skip the lender.
On the buying side, you also get a checklist of recommendations and vendors with when to do what, videos for the process, and weekly reminders and updates from our closing coordinators.
Your home goes to market through the NRG Listing Launch, and the next one comes through our buyer steps. One team handles both.
Where you go next: what changes with the county
A larger home can mean a different county, with different property taxes and a different drive. See the areas we work in, including East Cobb.
We keep your two closings on one plan and one budget, and we stay a resource after you've moved. When you want to see your own numbers for trading up in metro Atlanta, tell us what you're looking for.
This page describes our general process. It is not legal, tax or lending advice.
Buyer questions
Answers, simplified.
Should I sell before I buy?
Not necessarily. It depends on your equity, whether you can qualify while you own your current home, your timing and what matters most to you. There are several ways to order it.
Can I buy the next home before I sell?
It depends on your income, your savings and what your lender can offer. Ask which options fit you and what each one costs while you carry both homes.
Will a seller accept a home sale contingency?
Some will. It is more likely when a home has been on the market a while, has fewer interested buyers, or when your own home is already under contract.
Can I stay in my home after closing?
Yes, when the buyer agrees in writing before closing. The agreement sets how many days you remain, what you pay for that time, who covers utilities and upkeep, and the condition at hand-over. The buyer's loan can limit how long.
Keep exploring
You don't have to decide before we talk.