Do I buy first or do I sell first?
Buying a new home and selling your current one at the same time can be a daunting task, especially when it comes to deciding whether to buy first or sell first. This is known as the “Right Sizer’s Dilemma,” and it’s a common challenge that many homeowners face when looking to move.
When it comes to buying a new home before selling your current one, the biggest advantage is having more time to find your dream home. You can take your time, browse the market, and find the perfect property without any pressure. However, this option comes with the risk of having to pay the taxes, utilities and insurance on two homes, along with potentially two mortgages at the same time. This can be stressful, and it may not be financially feasible for everyone.
On the other hand, if you decide to sell your current home before buying a new one, you’ll have a better idea of how much money you have to work with. This can help you plan your budget better and make a more informed decision when it comes to buying your next home. However, this option comes with the inconvenience of finding a temporary place to live in between homes.
If you need to buy and sell at the same time, there are financing options available that can help you avoid these issues. To learn about these in general terms, I’m happy to chat and direct you to lenders who can provide you with details of the programs and recommend the best program to help you achieve your goals.
The Right Sizer’s Dilemma can be a difficult decision to make, but there are solutions available to help you navigate this process. Whether you choose to buy first or sell first getting clear advice from a real estate professional, a mortgage advisor and/or your financial planner can help you find the best solution for your needs and ensure a successful move to your new home.
I'm Liisa and I love helping people moving to Ottawa make their home purchase and transition smooth and seamless. I also love helping sellers get the most for their Ottawa home. Let me know how I can help you make your real estate dreams come true.
613-898-1184 (call or text)