Should You Sell First or Buy First When Downsizing?

The answer depends on your finances, timeline, and how comfortable you are with uncertainty. Here are the pros and cons of each option.

🏡 Sell First

Selling first gives you a clear picture of how much money you'll have available for your next home.

Benefits:

• Know exactly what your budget is
• Avoid carrying two properties
• Make a stronger offer on your next home
• Reduce financial uncertainty

The downside? You may need temporary accommodations if you don't find your next home before closing.

🔑 Buy First

Buying first means you know where you're going before you leave your current home.

Benefits:

• Avoid temporary housing
• Only move once
• Take your time preparing your current home for sale
• Don't risk selling before finding the right property

The biggest consideration is whether you can comfortably carry both properties while waiting for your current home to sell.

🔄 Or, Coordinate Both

For many downsizers, the best option is to carefully coordinate the sale and purchase.

With the right strategy, your sale and purchase can be timed as closely together as possible, helping make the transition smoother and reducing the amount of time you're caught between two homes.