How to Successfully Buy a Home While Selling Your Current One

If you’re looking to buy a new home while selling your current one, it can be a tricky process to navigate. Here are some strategies to help you successfully juggle both:

1. Get Pre-Approved for a Mortgage

Before putting your home on the market, get pre-approved for a mortgage to understand your budget and ensure you’re in a strong position to make an offer on a new home. Being pre-approved gives you confidence when negotiating with sellers.

2. List Your Home and Start Searching Early

Start the process of selling your current home and searching for a new one simultaneously. This gives you more time to find the right property and ensures you’re prepared if your current home sells quickly.

3. Consider a Contingency Offer

In a competitive market, making an offer on a new home with a contingency (such as a home sale contingency) may give you time to sell your current home before committing to the purchase. However, be aware that some sellers may not accept contingent offers, especially in high-demand markets.

4. Understand the Timing

The timing of both selling and buying is crucial. If your current home sells quickly, you may need to temporarily rent or make arrangements for alternative housing while you search for your next home. Conversely, if you find your dream home before selling your current one, you may need to negotiate with the seller for extra time.

5. Work with an Experienced Agent

Navigating both a home sale and a purchase requires a skilled real estate agent who understands the complexities of managing both transactions simultaneously. An experienced agent can guide you through negotiations and help coordinate the timelines for both deals