Should You Buy or Sell First? A Polk County Family’s Guide

Deciding whether to buy your new home first or sell your current one can feel overwhelming. Both options have unique pros and cons. The key is finding what works best for your family’s needs and budget. Let’s explore:

Buying First: The Perks and Pitfalls

Perks:

1. No temporary housing needed: Move straight into your new place without the hassle of rentals or storage.
2. Take your time: Transition at your own pace, making the move less stressful for your family.

Pitfalls:

1. Financial pressure: Juggling two mortgages or using savings can strain your budget.
2. Urgency to sell: You might feel rushed to accept a lower offer just to avoid carrying two homes.

Selling First: The Good and the Not-So-Good

Good:

1. Stronger buying power: With proceeds from your sale, you’re ready to make competitive offers.
2. No double mortgages: You’ll avoid the financial burden of owning two homes.

Not-So-Good:

1. Temporary housing headaches: Finding short-term solutions can be stressful and costly.
2. Rushed decisions: The pressure to buy quickly may lead to less-than-ideal choices.

How to Decide: 3 Key Questions

1. What’s the Market Like?
   In a seller’s market, homes sell fast—so selling first might be a smart move. In a buyer’s market, buying first could give you more options.

2. What’s Your Budget?
   Can you handle two mortgages, or do you need the proceeds from your sale to buy?

3. How Comfortable Are You With Risk?
   Do you prefer financial security (sell first) or the flexibility to find the perfect home (buy first)?

Alternative Options for Families

If neither option feels right, consider these solutions:

• Cash Offers: Skip the back-and-forth! With our program, you can receive multiple cash offers for your home, giving you financial clarity without the hassle.

• Bridge Loans: Our "Buy Before You Sell" program bridges the gap, so you can buy first without rushing your sale.

• Contingency Offers: Make your purchase contingent on selling your current home—though keep in mind this may not fly in a competitive market.

Deciding whether to buy or sell first doesn’t have to be stressful. With the right guidance, you can create a seamless plan for your next move. Ready to explore your options? Get Started Today