Selling and Buying at the Same Time? Here’s What You Need To Know
If you're a homeowner planning a move, you’re probably wondering:
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Should I start looking for my next home first?
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Or is it better to sell my current house before buying?
The right approach depends on your finances, your market, and your personal goals. That’s where a local agent’s expertise really makes a difference.
A good agent knows your market, understands what’s working for other homeowners right now, and can recommend a game plan that fits your situation.
But here’s a helpful preview: In many cases, selling first can give you more control. Here’s why that order often works best—and how your agent can help along the way.
The Advantages of Selling First
1. You’ll Unlock Your Home Equity
Selling your current home first gives you access to the equity you've built. And for most homeowners, that’s a significant amount.
According to Cotality (formerly CoreLogic), the average homeowner today has $302,000 in equity. That money can help cover the down payment and closing costs for your next home—or allow you to buy your next property in cash.
2. You Won’t Be Juggling Two Mortgages
Trying to buy before selling often means holding two mortgages, even for just a short time. That can get expensive fast—especially if repairs, delays, or market changes come into play.
Selling first means you avoid that financial strain and can move forward with a clearer budget.
"It’s best to sell your old home before buying a new one to avoid unnecessary risks and possible headaches.”
— Ramsey Solutions
3. You’ll Make a Stronger Offer on Your Next Home
When you’ve already sold your home, you don’t need to make your offer contingent on selling it. That makes your offer cleaner and more attractive to sellers—especially in competitive markets like Maui.
Your agent can help you position your offer strategically to give you the best possible chance of landing the home you want.
One Thing To Keep in Mind: You May Need a Temporary Place To Stay
If your current home sells before you’ve closed on your next one, you might need a short-term rental, hotel, or to stay with friends or family. But there are ways to make the timing work.
A skilled agent can help you negotiate flexible closing dates or request a post-closing occupancy agreement, which lets you stay in your home for a set time after closing.
Here’s a simple visual that can help you think through your options (see below):
But the best way to determine what’s best for you and your specific situation? Talk to a trusted local agent.
Bottom Line
In many cases, selling first gives you more options and more peace of mind. You’ll have access to your equity, reduce financial risk, and be in a stronger position when you’re ready to buy.
If you're planning a move and not sure where to start, let’s talk. I’ll help you look at your equity, your goals, and your timing—so you can move forward with confidence.
