Buy or Sell First?

Published: January 22, 2020
Category: Buying Real Estate, Selling Real Estate

Ariel Kormendy

Co-owner of the KT Team and Renti, Ariel Kormendy has been a resident of Milton and Oakville for over 20 years. With a lifelong passion for real estate, Ariel brings a blend of sales expertise and entrepreneurial spirit to the team. An early riser, Ariel enjoys starting his day with a workout and a good coffee. When not working, you’ll find him at the cottage, enjoying summer days by the lake. Ariel’s favourite movie is “Home Alone,” and he loves indulging in a classic pork souvlaki dinner or his grandmother’s traditional schnitzel.

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Buy or Sell First?

To Buy or To Sell? That is the Question!

Today, we are reviewing a question that we get quite often:

“My husband and I are planning on buying a new home. We are wondering if we should sell first or buy first?”

This is a great question… What if they buy a home first, they won’t have enough time to sell theirs. And if they sell their home first, they might not have enough time to buy a new one. Consider these 3 scenarios to help with your decision:

How long will it take to sell your home?

You may or may not have heard of realtors refer to the term, DOM (Days on Market) – This refers to the length of time it takes to sell a home. If your type of home has longer than average days on market, you may want to consider selling first so that you don’t end up buying a home, and then potentially owning two at the same time.

How long will it take to find a home?

If you’re looking to purchase a four-bedroom home on a quiet street in a specific neighborhood, including a pool and a hot tub on four acres; Well honestly, your options might be a little bit more limited and it might require a bit of patience. In this scenario, you probably don’t want to sell first because you could be put in a position where you’re stuck buying a home you’re not completely happy with.

Do you have a place to stay in the interim?

If you do have somewhere to stay in the interim, selling first can be a great option. In fact, it may even help negotiate when it comes down to closing dates.

Are you still confused?

Clearly there is no simple answer and everyone’s situation is going to be a little bit different. But this is what we’re here for!! We’re always more than happy to sit down with you over a cup of coffee to help you or someone you may know that needs some help planning your/their next move -> Call us today 1-800-617-0090. We are never too busy for your referrals!

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