Buy & Sell & Save!

Understanding the process of buying and selling at the same time?
Do you buy First or Sell first?  
There's no simple answer.  There are a lot of variables to consider; Market conditions, how you handle stress, the property your selling, the location, the property that you're buying and your financial situation.  All these will play a factor in your decision of whether to buy first or sell first.
Before we move on, you should be aware that as of the writing of this article (Feb 2024) and generally speaking, it's currently a Buyer's market, which means Buyers have the upper hand as there's less competition and generally plenty of properties to choose from.  Unless your property is in a high demand area and Selling your home won't be difficult, then it may not make much of a difference.  For the rest of us...
Selling First: Generally speaking, homes are taking longer to sell and If you're like most homeowners and you will need the equity from your current home to buy another home. Assuming this is the case, and that there are a number of homes that are on the market that would suit yor future needs, we would recommend that you try to sell first before you buy. Selling first will minimize the risks like; not selling if you have bought another home or knowing how much money you'll have to buy the new home.  Once you've sold you'll be in a stronger postion to buy another property since you won't need to be condityional on the sale of your current home.
Buying First:  If you've found the perfect home and you will only buy it if you can sell your current home, your options are somewhat limited, unless of course you are in a strong financial position and can pay for a new home without needing to sell your current home. But, assuming that's not the case, your best option in my opinion is to try to buy the new home conditional on the sale of your current home. Buying another home without a sale condition is very risky and can be stressful.  
NOTE:  There are many offers from agents claiming that they'll guarantee the sale of your current property. Be cautious of these offers. Read the fine print and do the math. 
We understand the complexities of buying and selling simultaneously, and we are here to provide personalized guidance to make the process as smooth and stress-free as possible for you. We also offer cost savings when you buy and sell a home using our services!
Contact me if you have any questions about buying and selling a home.  

Buying and Selling a Home

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