First-time homebuyers might have their own unique set of challenges, but one thing they do’t have to worry about is dealing with the sale of a current home while looking to throw the mortgage onto another.

Unless you’ve got the cash to carry two or more homes at once, things can get tricky when it comes to repeat home buying. In a perfect world, you’d find a new home, put yours on the market, and close both deals at the exact same time so there’s no worrying about carrying two mortgages at the same time or having to find a temporary place to lay your head if there’s a gap between closings.

While this is possible, it’s not going to happen without a little suaveness on your part – and a little luck. The truth is, you’ll probably have to put up with a little bit of juggling when buying and selling at the same time.

The good news is, this doesn’t have to be a pull-your-hair-out type of scenario. You can survive the buying and selling process at the same time, and here’s how.

Get a Good Handle on the Market

Should you buy first or sell first? Depending on who you ask, you’ll get a different answer. The best way to answer this question is to start off researching the real estate market in your area. 

Identify if you’re in the middle of a buyer’s or seller’s market, which will help sway your decision whether to buy or sell first. For example, if you’re in the midst of a buyer’s market, it might be a better idea to put your home up for sale first, since it might take longer to sell than to buy in that type of a market. You don’t want to be stuck paying interest on two mortgages that you’re carrying because you managed to find and close on a new home while your current home sits on the market waiting for an interested buyer.

The opposite is true in a seller’s market. In this case, looking for a new home first might be the better option, since you’ll probably be able to sell faster than find your next home.

Do Your Best to Keep Both Closing Dates in Sync

As mentioned earlier, having both closing dates happen one right after the other would be ideal, but it can be pretty tough to make that happen. But that doesn’t mean it can’t be done. There are some things you can do to try and bridge these two dates as closely as possible.

For starters, consider listing your home for sale and start the search for a new home at the same time. Research all of your options, make sure your credit score is healthy, and start getting pre-approved for a mortgage. The sooner you get your finances in order, the better.

Think about adding a contingency in your buyer contract – whether it’s the purchase agreement for your current home or the one you’ve put an offer on – to get the closing dates to line up. For the contract involving the home you’re buying, ask the seller to make the purchase conditional upon the sale of your current home. This could work if the sellers aren’t able to find a buyer in a decent timeframe. Just make sure you can give them reasons why your home should be sold quickly.

When it comes to the contract involving the sale of your home, wheel and deal with the buyer, and ask for a contingency to be added to the contract to make the closing date line up with the closing date of your new home. While this might not work with many buyers, those that absolutely love your home might be willing to make a sacrifice to ensure their name ends up on title. So make sure you paint your home is the best light possible with some professional home staging to up the odds of making this plan work. 

Offer a “Rent-Back” Option

If you’ve managed to snag a buyer who wants in, but you haven’t found a new home just yet, consider offering a “rent-back” option to the buyer. In this scenario, the buyer agrees to rent out your current home to you for a stipulated time period while you continue your search for a new home. You can negotiate a lower selling price or pay rent in exchange for being able to stay in your home until you find a new one.

Just bear in mind that some lenders might have a problem with this arrangement. But this can be a lot more convenient then shacking up with your parents or renting an extended-stay hotel room, so it’s worth a shot.

Tap Into a Bridge Loan

Bridge loans are specifically designed for those who have closed on a new home before closing on the sale of their current property. In this case, you’re given a short-term mortgage to cover the down payment on your new place before you sell your current one. This temporary arrangement essentially “bridges” the gap between the purchase of a new home and the sale of an old one, hence the name.

Bridge loans are secured by the buyer’s existing home, and the money from the bridge loan is put towards a down payment on the next property. When your current home is finally sold, the loan is repaid using the proceeds from the sale.

This is an attractive option, because it eliminates any restrictions that you would have otherwise faced worrying about lining up both closing dates. Not everyone’s got the cash to pay two entire mortgages, but a bridge loan can cover them both for a temporary amount of time in an affordable way.

Just the thought of buying and selling at the same time might sound incredibly stressful, but it doesn’t have to be. With a little research and preparation – and the help of a professional real estate agent and mortgage specialist – you can totally minimize the hassle of buying and selling a home at the same time.

Still got cold feet about buying a home? Wait ’till 2016 rolls around! With the new year upon us, now’s the time for all you renters and first-time buyers out there to start organizing your finances and jump on the homeownership bandwagon.

Of course, it’s totally understandable for it to be overwhelming and even intimidating to jump into homebuyer status, given the recent financial crisis that plagued the nation. But given the key economic indicators that are flashing right now, 2016 is potentially the perfect time to buy.

And here’s why.

1. Mortgage Rates Are Still Ridiculously Low – But Not For Long

If you want to lock into a mortgage, now’s the time to do it. Consumers have had the benefit of low interest rates for quite some time now, but there’s talk of rates finally increasing in the new year. You likely won’t be seeing rates this low for a long time to come, so the earlier you lock in, the better.

As it stands right now, you can still get a rate around 4%. If you can lock a mortgage in while rates are still low, you can knock a good chunk of change off your mortgage payments. Low interest rates makes home buying more affordable. Put more of your hard-earned cash towards the principle instead of flushing in down the toilet in interest payments!

2. Rent Prices Are Forecasted to Spike

Renting might be a good way to get your feet wet in the real estate market, but it looks like rental rates are about to experience an uptick in 2016. In many of the major centers in the US, supply is running low while demand is still strong. This off-balance is causing rent prices to teeter to the side of landlords who are able to charge more for their units as supply continues to remain sparse compared to demand.

In the last year alone, nearly 90% of property managers across the US have jacked up their rent prices, with no sign of that slowing down any time soon. So instead of throwing your money away in rent, you could potentially spend the same amount each month to be put towards home ownership and building equity instead.

3. “Know Before You Owe” Mortgage Regulations Put Buyers in the Driver’s Seat

Ever try to navigate mortgage paperwork? It’s like reading a foreign language if you’re not an agent yourself. And if you’re not careful, you could wind up getting stuck with mortgage terms that you’re not comfortable with.

Well, not anymore, thanks to the new TRID rules that came into effect this past year. Also known as the TILA-RESPA Integrated Disclosure rule, mortgage forms and loan costs are now being organized and stipulated in such a way as to make it a lot easier for the average homebuyer to understand all the terms involved. This gives consumers a better chance to make sound decisions and choices when it comes to their mortgages at the closing table. That way, there are no unpleasant surprises waiting for them once the keys are ready to be handed over.

4. Prices of Homes Will Be Scaling Back

For a while there, it was super tough for the average consumer to be able to afford some of the sky-high prices of homes that have been listed. And it still is in many centers across the country. But these prices are likely to slow down quite a bit in 2016, making home ownership more affordable for the average joe. Just don’t expect this price cut-back to be as pronounced in super-hot markets like San Francisco or NYC, where prices aren’t forecasted to pull back as much in the coming year.

5. More Properties Will Be Making Their Way to the Market

Along with the deceleration of home prices will come more homeowners listing their properties, giving homebuyers more selection. Let’s face it: anyone who’s hung onto property over the past few years has had the opportunity to build up serious equity as prices continued to skyrocket month after month. Many of these home owners want to cash in on that equity, and are more likely to list in 2016 to liquify their money. That means buyers will have more selection when it comes to he home-buying process.

Not only that, but the new home construction market is also probably going to grow in 2016 with builders placing more focus on starter and middle-range homes. That’ll do well to spike inventory and make it easier for homebuyers to snag a place. More homes on the market means the potential for prices to ease off even more.

All these forecasts for the new year point to fantastic possibilities for those who are finally looking to put their name on title of a home. Just make sure that you’ve got a professional real estate agent in your corner who’s experienced in the specific neighborhoods you’re looking to plant some roots in.

Design guru Nate Berkus and his equally design-savvy hubby Jeremiah Brent just listed their hoity toity Greenwich Village apartment for a cool $10.5 million.

It was only two short years ago that the design couple settled into this Lower Fifth Avenue apartment with their daughter Poppy after Oprah’s fave designer sold his 9th Street crib only a hop, skip and a jump away.

And considering the fact that they paid $5 million for it at the time, they’re making a pretty penny off the place if they get anywhere near what they’re asking. Perhaps it’s a bit on the ambitious side to be asking more than double what they paid only a couple of years ago, but it looks like Mr. Berkus and his husband really hold their redesign to the highest of standards.

Located just above Washington Square Park in the 1922-built building, the pad is positioned in the ideal spot surrounded rich cultural heritage that is unique only to the highly coveted Greenwich Village.

The couple designed every inch of it, so it’s a no-brainer that the 3-bedroom, 3-bathroom spread is a stunner. So striking was the renovation that the apartment was featured on the cover of Architectural Digest once the remodeling was complete.

The bright and airy penthouse duplex is bathed in white, and boasts cathedral-like coffered ceilings and gold and black accents throughout.

A key player in the 2,800 abode is the massive Carrie Bradshaw-esque closet that’s seriously bigger than most apartments in The Big Apple. The master bedroom boasts it own fireplace (one of three in the whole penthouse), as well as a spa-like master bath equipped with a glorious free-standing cast iron bath tub and double sinks.

The sizable gourmet chef’s kitchen is equipped with an 8-burner range, a butcher’s block, marble counters, and skylights, and spills into a formal dining area. You’ll be lead to private living quarters on the lower level via the fabulous wrought iron staircase – it’s the perfect spot for overnight guests to get a little ‘me’ time. On the upper end, the dramatic all-glass double-doored terrace overlooks the dazzle of lower Fifth Avenue.

Whoever decides to put in an offer on this puppy will have the option to purchase the gorgeous furniture that already adorns the place. It’s not necessarily part of the sale, per se, but for the right price, the power couple will entertain any offers on special request. And buyers should also take note of the hefty maintenance fees: a cool $7,073 per month.

Based on how truly magnificent this place is, it’s probably going to sting a little to cut ties with it. Whatever the case may be, one thing’s for sure – Nate’s new place is going to have to feature an equally large wardrobe and shoe closet – after all, you can’t go backwards. And Poppy’s only going to get older, which means the shoe collection is only beginning.

So where is the Berkus-Brent family off to next? West Hollywood, where they recently purchased a $2.36 million 4-bedroom home. Looks like an expansion of the family is in the works, perhaps?

Not one, but two colors have been chosen by Pantone as the ‘it’ shades of 2016.

The winners? Pantone 13-1520 TCX (Rose Quartz) and Pantone 14-3919-TCX (Serenity). In layman’s terms, that would be pastel pink and pastel blue (with a touch of lavender).

So what’s up with these specific color choices? According to Pantone, it all has to do with the blurred lines in the gender realm of our current times. That’s right – the colors of the year have been heavily influenced by cultural forces, and more specifically, the acceptance of gender fluidity in society.

No other two colors are more representative of gender – traditionally, pink for girls and blue for boys. And by choosing these two specific hues, Pantone hopes to help shatter the stereotype that each of these colors belongs exclusively to one gender over the other.

And if you thought these particular shades were stuck in the 80s, or could only work in a kid’s bedroom, think again. The softness of these colors provides designers and homeowners more flexibility when decorating a home’s interior. Not only can they be used on their own, they can also be used together within the same space to add luxury and refinement.

Incorporating these two blissful colors into your home can be done any number of ways without turning your home into an Easter egg.

Offset their demure side

These colors are naturally gentle. To bring in a little more drama, these hues can be combined with deeper, darker shades of the same color, such as navy blue or mauve. And to go modern and contemporary, use neutrals like off-white or cool gray coupled with Pantone’s choices.

Stick with their original effect

Serenity is the perfect color to use in bedrooms or other settings where a calm, serene effect is sought. The blue with a hint of soft purple is named accordingly, as it truly evokes a soothing, tranquil feeling, which is ideal for any space where you want a calming ambience.

Go subtle

If you’re sort of embracing these colors, but aren’t so bold as to lather them all over your walls, you can always start off small and infuse your space with Rose Quartz and Serenity via accessories. Whether it’s artwork, throw pillows, flowers or vases, you can easily use these winning shades of pink and blue without having to fully commit to them. Or else dedicate only one ‘accent’ wall to one of these colors, and complement it with a variety of neutral wall art.

Bring it outside

You don’t have to confine these two colors to the interior only. In fact, Rose Quartz and Serenity were meant to be outside! Think about the colors of many of your favorite followers – from bluebells to peonies. Many of them are already sporting these colors, so it only makes sense to add a splash of Serenity or Rose Quartz to your garden fence or landscaping trim.

Go all out

If you’re head-over-heels in love with Pantone’s choices and aren’t scared of commitment, then cover all your walls in one of the shades and use the other in your sofas and chairs. And if that’s still not enough for you, throw in an area rug with one of these colors to really show your support of Pantone’s choices for 2016.

Regardless of the societal message behind these two particular colors, one thing is for sure: they really do look lovely together. They’re both beautifully pleasant shades that make great companions with each other, even without the political message behind them.