Buying first or selling first? Which is less stressful and makes more sense?

Yvonne O'Hara
Sales Representative

What happens if you find and buy your dream home before you’ve sold your current home? You may be faced with carrying two mortgages for a while. This can get expensive. You might also feel a bit pressured and accept less for your current house just to make the sale.

The other scenario is that you have a keen buyer for your existing home before you’ve found your new home. You may find yourself looking for a temporary home if convenient closing dates can’t be arranged or worse, buy a house that you don’t love because you’re under pressure.

As much as either situation can actually work out, and the market situation at times might make the decision more obvious, the stress can be somewhat alleviated with this scenario.

Most buyers are concerned about the sale of their home and want to know exactly how much they will have for the purchase of their new home. If that is you, then I would suggest selling first with a long closing date (3 months). Not only do you know exactly how much you have to spend but you are also then able to make a ‘firm’ offer to purchase, which might allow you to get your new house at a more reasonable price. Finally, it will probably be the least stressful scenario for you and your family because you will have given yourself extra time to find a new home.

FEATURED PROPERTY
99A Walmer Road

Two year old, luxury condo townhouse situated on Walmer Road in the heart of the Annex. Over $100,000 of stunning upgrades. Two bedrooms, both with ensuite washrooms, nine foot ceilings, German engineered hardwood flooring throughout, kitchen with Granite island, stainless steel appliances combined with a family room and walk out to a terrace. Great home to entertain in. If you’re looking to live downtown, this location offers the serenity of  beautiful parks surrounded  by streets lined with classic homes and a short walk to public transport, great schools and all the action that Bloor Street offers.

Come and take a look. You will love it!

Yvonne O’Hara | Sales Representative
RE/MAX Unique Inc., Brokerage | 416.928.6833
www.YvonneOHara.com • yohara@trebnet.com