When you own a home, the decision to move can trigger a “chicken-or-egg” conundrum: should you sell your current home before buying, or vice versa? A variety of factors can affect your decision:
If you’re shopping for a home with highly specific features or in an area with limited inventory, buying first lets you take your time finding the right place at the right price. There’s a wonderful sense of freedom initially, but this plan does harbour some potential risks. If you purchase a new home and fail to sell your existing one quickly, you may have trouble securing a mortgage or be forced to pay two for a period of time. You also won’t know the exact selling price of your current home until the “Sold” sign goes up.
Depending on market conditions and the time of year when you’d like to move, we’ll use proven strategies to mitigate these risks and ensure your transition is as smooth as it can be. Talk to us first – we’ll fill you in on exactly what to expect.
By selling your current home before you buy, you’ll know exactly how much money you have to spend on your new house. The flipside of this decision is that you’ll have a finite window of time to find that new home at a suitable price.
As experienced team, we write offers with specific conditions that will virtually guarantee you a seamless transition from one home to the next. Our “Guaranteed Sold” Program can also provide the extra assurance you may need to present a firm offer that can be readily accepted. As a team, it’s each of our jobs to keep a roof over your head and reduce your stress in these “chicken-or-egg” scenarios.
The decision to buy or sell first weighs heavily on your personal situation and the current market conditions. With two sides (and many variables) in every transaction, we’ll weigh
the implications of each approach, and help you decide what’s best in your particular situation.