One of the biggest questions I get from clients with an existing property, is whether it’s better to buy first or sell first.
So, should You Buy or Sell First?
The truth is, there’s no one answer, it depends on your situation, your finances, and the type of market we’re in. In Victoria, where homes can move quickly, the decision matters even more.
Here’s how I walk clients through it.
When you buy first, you secure your next home before letting go of your current one. The upside is peace of mind, you know exactly where you’re moving, and you don’t have to scramble under pressure. This can be especially important for families who don’t want the hassle of temporary housing. The downside is financial. You might end up carrying two mortgages, even for a short time, and that can be stressful. To make this work, you need strong financial footing or access to bridge financing.
With selling first you get clarity. You know your exact budget, you don’t have the risk of two mortgages, and you’re negotiating from a stronger position because you’re not under pressure. The trade off is that you might need temporary housing if your dream home doesn’t line up right away. In a fast moving city like Victoria, this is something to plan carefully.
The local market plays a big role. In a strong seller’s market with low inventory, buying first can make sense because the odds are high your current home will sell quickly.
In a slower market, selling first is usually the safer choice, you don’t want to be stuck holding two properties longer than expected.
In a balanced market, the decision comes down to your personal finances and comfort with risk.
There are ways to manage the timing no matter what you choose. Subject-to-sale clauses can sometimes give you protection, though they’re not always competitive. Negotiating closing dates can create a smoother transition. Bridge financing is another tool to bridge the gap if needed. And most importantly, having a strategy on both sides, buying and selling, makes all the difference.
My advice is always tailored to the client. If you’re upsizing, downsizing, or relocating, the right approach can look different. What matters most is that you know your numbers, understand your options, and make the move with confidence.
My job is to make sure you’re not just reacting to the market. I want you ahead of it, prepared, and in control of the process.
At the end of the day, whether you buy first or sell first, it’s about reducing stress and getting you the best possible outcome. With the right planning, we can make the transition smooth and successful.
For Clarity – Key Points That Hit Home:
- Buy First: You get certainty, but risk carrying two mortgages. Works best if you’re financially secure or upgrading in a strong seller’s market.
- Sell First: You get financial clarity and less risk, but may need temporary housing if your next home doesn’t line up right away.
- Market Matters: Seller’s market → buying first can work. Buyer’s market → safer to sell first.
- Tools to Help: Subject-to-sale clauses, flexible closing dates, and bridge financing can smooth the transition.
- My Role: I tailor the strategy to your needs so you can move with confidence and minimize stress.
I hope this post was helpful and informative. I’m always here to chat if you would like to discuss in greater depth.
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