Buying a new home before selling your current one can feel like a leap of faith — and for some, it might be the right move. For others, it could introduce unnecessary risk. Whether you're upsizing, downsizing, or relocating, timing your purchase and sale is one of the most critical decisions you'll make in the real estate process. So, should you buy first or sell first? Let's explore both sides.

The Case for Buying First

✓ More Time to Find the Right Property

When you buy before you sell, you give yourself the luxury of time. You’re not under pressure to accept the first available home just to align with your selling timeline. This approach is especially helpful in a competitive market or if you’re looking for a very specific type of home (such as a bungalow, a condo with accessibility features, or a rare rural property).

✓ A Smoother Move

Buying first can mean a more seamless transition from one home to the next. You avoid temporary housing or the stress of storing your belongings between moves.

✓ Emotional Security

Knowing where you're going next can ease a lot of anxiety. This is particularly important for families with school-aged children, retirees looking to downsize, or anyone facing a major life change.

The Risks of Buying First

✕ Carrying Two Mortgages

If your current home doesn’t sell quickly, you could end up covering two sets of mortgage payments, property taxes, and utility bills. This can strain your finances — and your peace of mind.

✕ Financing May Be Tricky

Without the proceeds from your current home, your down payment and borrowing power could be limited. You may need to qualify for bridge financing or use savings to make it work.

✕ Market Uncertainty

If the market shifts after you buy, you may have to sell your current home for less than expected — which can be financially stressful if your purchase stretched your budget.

The Case for Selling First

✓ Financial Clarity

Selling first puts you in a strong financial position. You’ll know exactly how much equity you have to work with for your next purchase, making it easier to stay within budget.

✓ Stronger Offers

With money in hand, you may be able to make a firm offer on your next home — and sellers tend to favour firm offers over conditional ones, especially in a competitive market.

✓ Less Financial Risk

Without two homes to carry, you avoid the financial burden of dual ownership. This is a smart move for those who prefer to play it safe or are relying heavily on their home sale to fund their next purchase.

The Downsides of Selling First

✕ Pressure to Buy Quickly

Once your home sells, you’re on the clock. If inventory is low or your dream home hasn’t come up yet, you may need to settle — or move into a rental while you continue the search.

✕ Double Moves

Selling before buying can mean packing and moving twice, especially if the closing dates don’t line up. This adds cost and hassle to the process.

How to Decide: Key Considerations

► Your Financial Situation

Do you have enough savings or equity to carry two homes temporarily or secure bridge financing? Or would it be safer to have cash in hand before making your next move?

► The Local Market Conditions

In a seller’s market, where homes move quickly, buying first might make more sense. In a buyer’s market, where properties linger longer, you may want to sell first to avoid being stuck.

► Your Risk Tolerance

If the idea of owning two homes keeps you up at night, selling first may be the better option. But if you value control and flexibility, buying first could offer more peace of mind.

Final Thoughts

There's no one-size-fits-all answer. Whether you choose to buy or sell first depends on your financial readiness, market conditions, and personal preferences. A seasoned real estate professional can help you weigh the pros and cons, navigate financing options, and time the transition smoothly.

If you're planning a move and unsure how to proceed, let’s connect. We can help you build a strategy that protects your investment and keeps your goals front and center.

Ready to plan your move? Let’s talk about your options today.