If you’re planning on buying your next home, one of the biggest questions you’ll face is: Should you sell your current home first? Or should you buy before you sell?
This decision isn’t always easy. There are financial factors, market risks, and emotional stress to consider. Depending on your situation, either option can work—but understanding the pros and cons can help you make the right choice.
Whether you’re upgrading from a single family home, downsizing, or relocating to a new neighbourhood like Nolan Hill or Sage Hill, this guide will help you weigh your options.
Option 1: Sell Your Current Home First
If you’re planning on buying your next home, one of the biggest questions you’ll face is: Should you sell your current home first? Or should you buy before you sell?
This decision isn’t always easy. There are financial factors, market risks, and emotional stress to consider. Depending on your situation, either option can work—but understanding the pros and cons can help you make the right choice.
Whether you’re upgrading from a single family home, downsizing, or relocating to a new neighbourhood like Nolan Hill or Sage Hill, this guide will help you weigh your options.
Option 1: Sell Your Current Home First
Many homeowners choose to sell first before buying their next property. This is often the safer route, especially in uncertain real estate market conditions.
Pros of Selling First:
1. Know Your Budget Upfront
When you sell your existing home first, you know exactly how much money you’ll have available for your next purchase. This helps when buying your next home, especially if you’re stretching your budget for a newer or larger property.
2. Avoid Carrying Two Mortgages
Holding two home loans at once can be a major financial strain. Selling first helps you avoid carrying two mortgages, which often includes double utility bills, insurance, and property taxes.
3. Less Financial Risk
If the market shifts or your existing home takes longer to sell, you won’t be stuck with two properties. This approach gives you better control over your financial timing.
Cons of Selling First:
1. Pressure to Find a New Home Quickly
Once your current home sells, the clock starts ticking. You may feel rushed to find the perfect new home, especially if you have a short closing period.
2. Temporary Housing May Be Needed
If you haven’t found your next place yet, you may need to rent or stay with family. This can cause extra moving costs and stress—especially for families with children or pets.
Option 2: Buy Your Next Home First
In a competitive real estate market, some homeowners choose to buy first, especially when they find a home they don’t want to lose—like a rare nolan hill home or a newly listed property near recreation facilities.
Pros of Buying First:
1. More Time to Find What You Want
You can shop for your next home without pressure, taking time to explore neighbourhoods, compare features, and choose carefully.
2. One Move Instead of Two
Buying first means you can move directly from your existing home into your new one—no need for storage units or temporary rentals.
Cons of Buying First:
1. You May Need Bridge Financing
To buy before you sell, most homeowners need short-term funding called bridge financing. This can work well, but it depends on your credit score, home equity, and lender approval.
2. Interest Rate Risks
If the interest rate changes before you lock in your financing, your borrowing costs could increase—especially if you’re juggling two mortgages or relying on temporary financing.
3. You Might Settle When Selling
If your purchase closes before your sale does, you might feel pressured to lower your selling price just to close quickly—especially if you’re depending on the sale to repay the bridge loan.
What Real Estate Agents Recommend
Most real estate professionals agree: if you can manage the risk, buying first works best in a seller’s market—when homes are moving quickly, and you’re likely to sell fast. If the market is slower or shifting, selling first gives you more flexibility and reduces financial stress.
If you’re selling your home in Calgary, your agent can provide local data, like average days on market and pricing trends, to help guide your decision. Working with experienced real estate agents also gives you access to strategies like:
Negotiating closing dates to line up both transactions
Listing your home on the MLS system with optimal timing
Targeting neighbourhoods with strong demand, such as homes for sale in Nolan Hill
A Closer Look at Nolan Hill Real Estate
For those looking at houses for sale in Nolan Hill, or buying a home in the NW, the area offers plenty of options. From spacious single family homes to new builds with modern finishes, it’s a top pick for growing families and professionals.
Thanks to its schools, pathways, and easy access to major roads, Nolan Hill real estate continues to attract buyers. This makes it a strong choice if you’re considering selling your existing home and moving into a more family-friendly community.
The good news is that homes for sale in North Calgary tend to hold value well and attract interest year-round. If you see a listing that fits your needs, waiting too long might mean missing your chance.
Tips for Buying and Selling at the Same Time
Work with a Local Expert
A real estate professional familiar with your area can help you coordinate buying and selling so the transition is smooth.
Get Pre-Approved
Talk to a lender early to understand what you can afford and how your current home’s sale will affect your approval for a mortgage.
Plan for Flexibility
Ask about creative solutions like rent-back agreements, where you sell your home but stay in it temporarily after the sale closes.
Know the Market Conditions
Is it a buyer’s or seller’s market? Is inventory low? Your agent can help you understand your position so you can make a better choice.
Talk to a Mortgage Broker
They can explain your bridge financing options and help you compare lenders, rates, and terms based on your situation.
Buying and Selling Calgary Homes
There’s no one-size-fits-all answer when it comes to selling your home in Calgary before buying your next home. The right choice depends on your budget, your timeline, your risk tolerance, and the current market.
If you’re confident your home will sell quickly—or you’re looking in a high-demand area like Nolan Hill—you might be fine buying first. But if you want to play it safe, selling first will give you a clearer financial picture and more control.
Whatever you decide, work with experienced real estate agents who understand both sides of the transaction. With the right guidance and timing, you can make a move that supports your goals—and keeps your stress to a minimum.
Houses for Sale Nolan Hill
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