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Should You Sell Before You Buy? Here’s the Smart Way To Make Your Move
If you’re a homeowner thinking about making a move, you’re probably wondering where to start:
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Do you find your next home first?
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Or do you sell your current place before house-hunting?
There’s no one-size-fits-all answer. The best approach depends on your financials, timeline, and market conditions. That’s where a sharp local agent makes a difference—they’ll break it down based on real data, not guesswork.
But here’s the truth: for many homeowners today, selling first makes the most financial and strategic sense. Here’s why.
1. You Unlock Your Home Equity
Your equity is likely your biggest source of buying power—and you can’t use it until you sell. According to Cotality (formerly CoreLogic), the average homeowner is sitting on $302,000 in equity right now. That’s real money that could cover your next down payment—or help you buy the next place outright.
2. You Avoid the Two-Mortgage Trap
Buying before selling can leave you juggling two mortgages, which is risky, stressful, and expensive. Repairs, delays, or an unexpected market shift can turn a short overlap into a financial mess. Selling first keeps things clean and simple. However, depending on market conditions, there are funding options that could work in your favor.
Ramsey Solutions puts it straight:
“It’s best to sell your old home before buying a new one to avoid unnecessary risks and possible headaches.”
3. You’ll Make a Stronger Offer
Sellers prefer clean deals. If your current home is already sold, your offer isn’t contingent on anything. That gives you a serious leg up—especially in competitive markets where sellers can afford to be picky. Your agent will structure your offer to be aggressive, credible, and attractive.
The Tradeoff: You Might Need Temporary Housing
There’s one catch: once you sell, you might need a short-term rental or stay with family while you lock in your next home. But a good agent can help you negotiate a post-closing occupancy (you rent back the house for a bit) or push for flexible closing dates to bridge the gap.
Bottom Line
In most situations, selling first gives you clarity, cash, and control. You avoid unnecessary financial strain and put yourself in a stronger buying position.
Not sure what the best move is for your situation? Reach out, let’s discuss and come up with a smart, customized plan.
