Anthony Atkinson
Real Estate Broker Weichert, Realtors® - Quality Homes 1860 Grand Ave Baldwin, NY 11510 516-867-3508  |  516-220-2009 FAIR HOUSING NOTICE

Buy First Or Sell First?


Buy First or Sell First

In an ideal world, a seller would find a buyer for their home and a new house at the exact same time, eliminating all financing and timing worries. Unfortunately, it’s not likely to happen, so the decision to buy first or sell first must be made. It is a complicated decision, and buying and selling a home when one controls the other can be very stressful.

One way to decide whether to buy first or sell first is to study the market conditions. If you’re in a stronger position as either a buyer or a seller, it may sway your decision. This is only helpful if you’re able to handle some of the complications that come with either side. If you decide to buy first, there’s always the option of a contingency, where the condition of the purchase is finding a buyer for your home. This usually only works if the seller is having a difficult time finding a buyer. If you find a buyer who is very interested in your home, they may be willing to rent it back to you for up to several months, depending on their timeline, giving you time to find someplace new.

Here are some pros and cons to both sides.


Sell First, Then Buy


  • The safest financially, will not involve owning two homes
  • Clear understanding of finances and proceeds from sale of home before looking for your next home
  • No worries about temporary financing and bridge loans
  • No need to negotiate a lower price to sell your home quickly to avoid two mortgages
  • It may be possible to rent your home back after closing to eliminate a rental while searching for your next home
  • Sellers favor cash buyers


  • More stress to move multiple times, which is time consuming and expensive
  • Finding a rental in the right area might be difficult and costly
  • May involve storage units, which can be expensive
  • Needing to buy a new home quickly could involve settling for less than you wanted

Buy First, Then Sell


  • Minimum disruption to your life
  • Move in at your own pace to your new home
  • Possibly rent old home while settling into new home to cover mortgage
  • Added security of knowing where you’ll live before selling your home
  • If needs are specific, buying first will allow as much time as necessary to find the right home
  • Equity in current home could be used as a down payment on new home, through a home equity line of credit (HELOC)


  • Might have to manage two mortgages for a long time if your home doesn’t sell
  • Could cause you to accept a lower price on your home if you can no longer afford two mortgages
  • Adding a contingency if you need to sell your home can weaken an offer
  • Maintenance on two homes can be twice as expensive
  • May need to rent extra furniture to stage the first home if you’ve already moved
  • Existing mortgage could be calculated as part of your debt-to-income ratio and limit your ability to get another mortgage, unless your current home is under contract


Your Dedicated Agent

Anthony Atkinson

Real Estate Broker Office: 516-867-3508 Mobile: 516-220-2009

Weichert, Realtors® - Quality Homes
1860 Grand Ave
Baldwin, NY11510

I´m Here To Help

If you are ready to start your buying or selling process
give me a call at 516-867-3508 - I´m happy to answer all your questions.

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