Selling Your Current Home While Buying the Next?

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One of the most common questions I hear is:

"Should I buy my next home first, or should I sell my current home first?"

The truth is there isn't a one size fits all answer. The right strategy depends on your finances, your goals, and what's happening in our local market. But one thing is always true:

The best move is to build a plan before you ever start looking at homes.

Step 1: Understand Your Equity

For most homeowners, the equity in their current home plays a major role in purchasing the next one. Before browsing online or attending open houses, it's important to understand:

• How much your home is likely worth today

• What your estimated proceeds would be after selling

• How that impacts your next down payment and monthly budget

Having these numbers upfront allows you to shop confidently instead of guessing.

Step 2: Decide Which Comes First

Many homeowners assume they need to buy first so they have somewhere to go. While that can work in certain situations, selling first often creates significant advantages.

When your current home is already sold or under contract, you typically:

• Know exactly how much money you have available.

• Avoid the stress of carrying two mortgage payments.

• Present a stronger offer because you're not waiting on another sale to close.

That doesn't mean selling first is always the right answer, but it's a strategy worth considering.

Step 3: Have a Plan for Timing

Buying and selling at the same time is less about luck and more about coordination.

Depending on your situation, there are several ways to bridge the gap between homes, including:

• Flexible closing dates

• Rent back agreements

• Temporary housing

• Contingent purchase agreements

• Bridge financing (when appropriate)

Every option has advantages and tradeoffs. The goal is choosing the one that creates the least amount of financial stress while protecting your negotiating position.

Every Move Is Different

The internet is full of generic advice, but real estate is local.

The strategy that works for one homeowner may not make sense for another depending on inventory levels, competition, financing, and your personal goals.

That's why I always start with a conversation and a customized plan. My job isn't simply to help you buy and sell homes. It's to help you make smart financial decisions while minimizing stress throughout the process.

If you're thinking about making a move in the next six to twelve months, let's talk through your options now. Even if you're not ready to list yet, having a strategy in place can make all the difference when the right opportunity comes along.

Call with any questions or to get started on your own journey:

Nicholas Krueger

612-719-2718

[email protected]

Original inspiration: Keeping Current Matters article