05/22/2026
FAQ: Should I sell my home before buying a new one? π€
Deciding whether to sell your current property before buying a new one can depend on a variety of factors, including your financial situation, the local real estate market, and your personal preferences. Here are some things to consider when making this decision:
1οΈβ£ Financial considerations: If you plan to use the equity from your current property to purchase your new home, it may be necessary to sell your current property first. Additionally, if you are relying on the sale of your current property to qualify for a mortgage for your new home, you may need to sell your current property before buying a new one.
2οΈβ£ Timing: The timing of your sale and purchase can also be a factor. If you sell your current property before buying a new one, you may have a better idea of how much you can afford to spend on your new home. However, if you sell your current property and do not have a new home lined up, you may need to find temporary housing while you search.
3οΈβ£ Local real estate market: The local real estate market can also impact your decision. If it is a seller's market, where there are more buyers than available properties, it may be easier to sell your current property quickly. However, if it is a buyer's market, where there are more properties available than buyers, it may take longer to sell your current property.
4οΈβ£ Seller Preferences: If you've already found the home you want to purchase, you'll need to determine whether the owners are open to a contingency to sell your home. In our current market, I'm finding that many sellers are open to a home sale contingency but will require a First Right of Refusal Addendum. You get the contract, but the seller can continue marketing the property to other buyers until an agreed upon time or contractual event.
Contact me to discuss your specific situation and I can tailor my advice to you and your real estate goals in 2026.
Ben Absher
Realty One Group Experts
π±: 423-315-2392
βοΈ: 423-541-0100
π» [email protected]
π±οΈhttps://benabsher.myrealtyonegroup.com/