Should You Buy Or Sell Your Toronto Home First?
One of the hardest questions we get asked by our clients when they are looking to sell their property is “should we buy our new home first or sell our existing home first?”
The reason this question is so hard to answer is because it changes so drastically from person to person! Here are some of the pro’s & con’s for each option
Pro: By selling your existing home first, this provides you with the most financial security as you’ll know exactly how much money is available to you for your next home purchase
Con: In selling your existing home, you have created a deadline for yourself as you must be moved out of your property by a specific date! This may make you feel rushed in the buying process, potentially leading to the purchase of a non-ideal home!
Pro: You’ll have plenty of time to choose your new home without having to worry about the closing date or buying something that isn’t totally right for you!
Con: This could put you in a difficult financial position as you must sell your existing home before closing on the new home, unless you are okay with owning & paying for 2 homes at once!
We would be glad to talk with you in further details about these options!