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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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Stepping up the property ladder presents unique challenges compared to buying your first home – a reality Lorraine Peterson knows firsthand. Having sold her first property before securing her next one, Lorraine candidly shares her experience navigating the uncomfortable limbo between houses and the emotional rollercoaster that accompanies this major life transition.
The conversation delves into the fascinating dynamics of buying and selling in a declining market. While Lorraine faced the disappointment of selling her renovated home for less than hoped, she's capitalizing on the same market conditions to purchase a larger property at a reduced price. This balanced perspective challenges the common fixation on market timing and emphasizes focusing on your family's changing needs instead – in Lorraine's case, moving closer to her children's schools as they enter college age.
We explore practical strategies for those in similar situations, including the critical importance of conditional offers that protect you as both buyer and seller. Lorraine shares wisdom gained from unexpected challenges, from discovering pond-sized puddles in her yard after the first rainstorm to navigating the nuances of cross-lease properties. Her journey reinforces that your first home is rarely your forever home – it's simply the crucial first step onto the property ladder that enables future moves.
For anyone contemplating their next property move while still owning their current home, this episode offers both practical advice and emotional reassurance. As Lorraine wisely reflects, "Don't give up. There is a property out there for you, there's always a way around challenges, and what's meant to be yours will be yours." Subscribe now and join our community of homeowners navigating the exciting journey of property ownership.
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Chapters
1. Welcome back Lorraine Peterson (00:00:00)
2. Selling before securing a new home (00:01:15)
3. Renovations and cross-lease considerations (00:02:50)
4. Low deposit challenges and opportunities (00:04:25)
5. Making offers with protective conditions (00:06:25)
6. Patience pays off in property hunting (00:11:15)
7. First homes aren't forever homes (00:13:25)
150 episodes
