Sell first or buy first?
THE HOME GUIDE · 34
Sell first or buy first?
When you own a home and want another, the order can change your risk.
ABOUT 3 MINUTES TO READ
A QUICK LOOK · THREE THINGS TO KNOW
01 / START HERE
Selling first gives a number
If you sell your current home first, you may know how much cash you have.
02 / START HERE
Buying first gives more time
You can shop for the next home before leaving the old one.
03 / START HERE
Make a backup plan
Think about what happens if the sale takes longer or the right home is hard to find.
Selling first can help you know how much money you have for the next home. Buying first can give you more time to find the right place. Each choice comes with trade-offs.
PART 01
Selling first gives a number
If you sell your current home first, you may know how much cash you have. But you may need a place to live while you look.
PART 02
Buying first gives more time
You can shop for the next home before leaving the old one. But you may need to carry two homes or borrow more for a while.
PART 03
Make a backup plan
Think about what happens if the sale takes longer or the right home is hard to find. A safe plan has room for delays.
A SMALL STEP YOU CAN TAKE
One thing to check today
Write down the cash needed and the time each move might take.
HOW TO USE THIS
If you are buying or selling
If you are buying
Check your cash plan and what happens if the old home takes time to sell.
If you are selling
Ask how your next move and sale dates can work together.
SAVE THIS LIST
Three questions worth asking
- What if the current home takes three extra months to sell?
- How certain are my net proceeds?
- What are the costs of temporary housing or overlap?
Categories
Recent Posts
