Should I sell my current home before buying another one?
There isn't one right answer for everyone. Selling first gives you a clearer understanding of your available equity and purchasing budget, but it may mean arranging temporary accommodation if you haven't found your next home. Buying first can provide more flexibility in your home search, but it may create financial pressure if your existing property takes longer to sell. We'll discuss your finances, timing, market conditions, and comfort with risk to help develop a plan that works for your circumstances.

Sell First or Buy First? Key Points


  • Selling first gives you certainty about your budget.
  • Buying first offers more flexibility to find the right home.
  • Each option has risks to consider.
  • A plan based on your finances and the market reduces stress.

Selling First


Selling first lets you know your exact equity before buying. The risk is needing temporary housing if you haven't found your next home. A longer possession date can help.


Buying First


Buying first means you won't miss out on the right home. The risk is carrying two properties if your current home takes longer to sell than expected.


Options That Can Help


  • Make your purchase conditional on the sale of your home
  • Negotiate longer or flexible possession dates
  • Arrange bridge financing with your lender
  • Plan a short rental or stay with family

Bridge Financing


Bridge financing can cover your down payment if you buy before your sale closes. It's usually available once your current home has a firm sale.


Understanding Your Finances


Before deciding, get an estimate of your home's value, your mortgage payout, and your borrowing capacity for the next purchase. Knowing these numbers helps you understand how much risk you can comfortably take on.


Creating Your Plan


We'll review your finances, timing, and market conditions together to find an approach that fits your comfort level and goals.