Should I sell my home before buying a new home?
Updated: Sep 15, 2022
Unfortunely, there is no definitive right answer to this question. Even if the market is in a seller’s favor, you may face challenges. Unless you have the luxury of being able to afford two mortgages, you'll want to carefully consider your options.
Here are a few questions to consider:
Can I afford two mortgages?
Could I rent the second property if needed?
What would I do if my home sells before we find a new home?
What if I don’t get the ideal asking price on my home?
These questions can help prepare you to make the best choice. Some of the benefits to selling your home before buying includes knowing the exact budget you have to work with and instant access to equity to purchase a new home.
Deciding whether you should sell your house before buying a new one can be a stressful decision and it’s important to make sure that you understand the advantages and disadvantages before making a decision.
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