I want to share with you an option that you might not have known was available to you. For most people, the worst part of a move is the actual moving day, and it is commonly assumed that you need to move out of your old home and into your new home on the same day.  Anytime there is a move from one house to another in the same day there’s a always the potential for chaos because one action depends on the completion of another action, and you have such a short period of time to accomplish your goals.

If you have a considerable amount of possessions to move (this is most people), the distance between homes is more than an hour apart, and/or you have young children, pets, or other factors that you know will add stress to the moving process, I always suggest considering Bridge Financing.

What is Bridge Financing?

Bridge financing is a short term loan provided to you when you close on your new home before you close on your old home. When you close on the same day, the funds from your old home go directly to finance your new home; though this does take hours to complete and explains the commonly long wait for keys to your new home. If you decide to close on your new home a week before you close on your old home, you don’t yet have those funds to pay for the new home and therefore need the short term loan to “bridge” that week gap.

What are the Benefits of Bridge Financing?

The number one benefit to bridge financing is the loosening of your moving timeline, allowing you extra days to get the job done in a calmer, more organized way. Instead of needing to complete a large move in 4-6 hours, you can have 4-6 days. What you are paying for is decreased stress and increased peace of mind. Perhaps you spend the first day cleaning your new home top to bottom the way you’d like it. The next day, you paint the rooms you wanted to paint before your furniture arrives. The 3rd day you move your furniture over and set up your kid’s rooms and living essentials. The last day you review your old home one more time, to ensure everything is moved out, and start unpacking at your new home, room by room.

Is it worth it?

This is totally dependent on your own personality and goals. Maybe you thrive on the fast pace and excitement of moving day and you have no concerns about getting it all done. Then the extra cost may not be worth it to you. If you would feel better having the time to do things on your schedule, and feel like you are more in control of the process it might be worth it to you. There is no right or wrong answer, and if you are considering a move, contact me and we can go over all of the details of your particular situation.


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