If you're a homeowner preparing for your next move, you're likely wondering what steps to take first and how to make the process as seamless as possible.

Should you begin by searching for your new dream home? Or is it smarter to sell your current house before diving into your next purchase? The best approach depends on your unique situation—and that’s exactly where a seasoned real estate professional can be incredibly valuable.

Your local agent brings insights into market trends, neighborhood dynamics, and proven strategies that are working for other homeowners right now. With their guidance, you’ll be better equipped to make the choice that fits your goals.

Here’s a helpful preview: In many situations today, listing your current home first can put you in a stronger financial and strategic position. Let’s explore why starting with a sale often works so well—and how the right agent can make it all come together.

The Benefits of Selling Your Home First

1. Tap Into Your Home Equity

Listing and selling your home before purchasing your next one allows you to unlock the equity you've built up over time. And that equity can be significant. According to data from Cotality (formerly CoreLogic), the average homeowner currently has around $302,000 in tappable equity.

That’s a powerful financial tool. Once you sell, you can use that equity to fund your down payment—or potentially even purchase your next home with cash. This can reduce your monthly expenses and make your next move much more affordable.

2. Avoid the Stress of Two Mortgages

Buying before selling can mean carrying two mortgages at once, even temporarily. This scenario can create financial strain, especially if unexpected costs arise or your current home takes longer to sell. Selling first eliminates that risk and simplifies your finances. As Ramsey Solutions wisely notes:

“It’s best to sell your old home before buying a new one to avoid unnecessary risks and possible headaches.”

3. Strengthen Your Offer in a Competitive Market

When you’ve already sold your home, you’re able to make a non-contingent offer on your next property. That makes your offer more appealing to sellers, especially in a competitive market where multiple offers are common. Your agent can help you craft the strongest possible offer, increasing your chances of landing the home you really want.

This cleaner approach often gives you a significant edge over buyers who still need to sell their current property.

A Consideration To Keep in Mind

As with any plan, it’s important to consider all aspects. Here’s one potential challenge to think about:

1. You Might Need Temporary Housing

If your home sells before you’ve secured your next one, you may need a short-term rental or temporary solution while waiting to close. Fortunately, your agent can often help negotiate flexible terms such as post-closing occupancy (essentially renting back your sold home for a short time) or extended closing dates to help bridge the gap with minimal disruption.

Here’s a quick visual to help you weigh the options (see below):

The best way to determine the right move for your situation? Talk to a local real estate expert who can walk you through the process and tailor a plan to your specific goals.

Bottom Line

Choosing to sell first can give you clarity, confidence, and greater control over your next move. It unlocks valuable equity, reduces financial stress, and strengthens your buying position.

If you're planning a move and not sure where to start, connect with a trusted real estate professional. They’ll help you evaluate your options, understand your local market, and make informed decisions every step of the way.

For personalized guidance and expert support, reach out to Mike Panza and the team at Panza Home Group. They’re here to help you navigate your move with confidence. Learn more or get in touch today: https://panzarealestate.com/team/mike-panza