I look forward to meeting with you if you are not already working with an agent. My website address is http://www.fortcampbellproperties.com or http://www.sumitra.exitclarksville.com and the direct number to reach me is 931-206-0897.
Thanks so much for your question and your concerns. It certainly can be an overwhelming experience; however, an experienced Realtor can help to make the experience as stressfree as possible...that's what we do! As everyone has already mentioned here...it's definitely possible! The very first step is to see if you can qualify for the new home without selling the current home. This would also depend upon what type of mortgage you would be getting and if you are making a down payment, if that money would be coming from the equity you have in your current home. If not relying on your equity in your current home for your downpayment money, it's certainly a possibility to keep that home as an investment property and purchase a new one. As mentioned earlier, the lender usually requires you to have a lease in place on your current home prior to closing on the new home, unless your debt/income ratio is low enough to afford both homes without the lease in place.
The first step would be to contact a Realtor who can help you to get pre-qualified with a local lender. It would be my pleasure to assist you with this and help you to be on your way to acquiring your new home. I've helped many familes here in the Clarksville market over the last 17 years to do just that!
Keller Williams Realty
This is the route that many take when they have outgrown their current home, but have crunched the numbers and want continued increase in equity. It can be a win:win for you and your investment value. To avoid any pitfalls, i.e., the scary part :) it is important to talk with a Real Estate Professional. Give me a shout-out at your convenience (931.241.7744) and we can discuss the particulars.
Prudential Professionals Realty
#1 Agent 2011
"It's All in the Details"
RYAN PETRY | kw