Which should you do first, buy a new home or sell the old one? Your personal finances and the current market conditions will help to make your decision.
Consider selling your house first but make the deal contingent on you being able to find a suitable replacement home. In a strong seller’s market where there are many more buyers than homes available for sale then you may get away with it – the current reality of most markets, however, is that they are buyer’s market. So, be sure to get the contingency clause into the sales contract before you sign your acceptance.
If you are in the situation where you need to buy before you sell your current home, you face a very real possibility of having to pay mortgages on both homes for a while… so make sure that you have room in your monthly budget that can pull it off.
If you would like more information or have any questions feel free to contact us.