Changing Homes, Should You Sell Before You Buy or Buy Before You Sell?

Aliona Cozari

Mortgage Broker

Language(s):
French
English
Russain
Romanian

When changing properties, one common question is: Should I sell my current property before buying the next one, or buy first and sell later? Both strategies have benefits and risks.

The right decision depends on your financial situation, the market and your risk tolerance.

Option 1: Sell Before Buying

Advantages: knowing your budget, avoiding carrying two properties and reducing risk.
Risks: timing pressure and possible temporary housing.

Option 2: Buy Before Selling

Advantages: more time to find the right property and smoother transition.
Risks: carrying two properties temporarily and financial pressure.

The Role of Bridge Financing

A bridge loan can help between two closing dates.

Important: it is generally available only when there is a firm accepted offer with no conditions on the property being sold. It does not simply allow you to buy without securing a sale.
Consider: eligibility, costs, duration and risks if the sale is delayed.

The Real Question

Which strategy reduces my risk while supporting my goals? Talk to us to analyze the possible scenarios.

TERMS	BANKS	MORTGAGE PLANNERS
1 Year Fixed	6.89%	4.89%
2 Years Fixed	6.34%	4.29%
3 Years Fixed	6.19%	4.04%
3 year closed Variable	5.95%	4.45%
4 Years Fixed	6.24%	4.14%
5 Years Fixed	6.29%	4.14%
5 years Variable	5.20%	3.60%
Refinance Fixed or variable	7.65%	3.80%
7 Years Fixed	6.69%	4.54%
10 Years Fixed	7.14%	5.04%
HELOC	5.45%	4.95%

TERMS

BANKS

MORTGAGE PLANNERS

1 Year Fixed

6.89%

4.89%

2 Years Fixed

6.34%

4.29%

3 Years Fixed

6.19%

4.04%