Should you buy or sell first?

 🏡Thinking of moving? One big question is: Should you sell your home first or buy a new one first? Each has pros and cons—let’s break them down to help you choose the best option.

1️⃣Selling first can give you financial clarity, but you’ll need a backup plan for where to stay in between.

✅ Pros of Selling First:

• Clear Budget: You’ll know exactly how much you can afford.

• Stronger Offers: Having cash in hand makes you a more competitive buyer.

• No Double Mortgages: You won’t have to juggle two mortgage payments.

❌ Cons of Selling First:

• Temporary Housing: If you don’t find a new home right away, you may need to rent or stay with family.

• Extra Moving Costs: Moving twice can be inconvenient and expensive.

✨✨Planning ahead can help make the transition smoother!

2️⃣Buying first can make moving easier, but it comes with financial risks.

✅ Pros of Buying First:

• More Time to Find the Right Home: No rush or pressure to settle.

• Smoother Move: You can transition directly without temporary housing.

• Less Market Pressure: You’re not forced to buy quickly after selling.

❌ Cons of Buying First:

• Financial Risk: Carrying two mortgages can be stressful if your home doesn’t sell fast.

• Uncertain Sale Price: If your home sells for less than expected, it could impact your budget.

✨✨Best for: Those who can handle two properties financially or have a strong backup plan.

🤔How to Decide? Ask yourself:

• ✅ Can I afford two mortgages if needed?

• ✅ Do I need the money from my sale to buy my next home?

• ✅ How competitive is the market in my area?

💡 Pro Tip: Unsure? Consider a sale contingency (buying only if your home sells) or bridge financing (a short-term loan to cover both homes).