Short answer
There is no single right order. Selling first gives you certainty about your budget and makes your offer stronger. Buying first gives you control over where you land but adds timing and cost risk. The right choice depends on your equity, your financing, and how much uncertainty you can live with.
Selling first
When you sell first, you know exactly how much money you have and what your next payment can be. Sellers on the other side of your purchase know your offer is not waiting on another sale, and your offer will more enticing.
The tradeoff is what happens in between. We can almost always align a buy and sell transaction to occur on the same day or use a rent back option to help give more time to move.
Buying first
Buying first means you know you landed the house you want, no pressure to find a place prior to selling.
The tradeoff is risk. If your current home takes longer to sell than expected, you may run the risk of losing out on the home you have under contract, or the seller may accept a non-contingent offer. Alternatively if you have the means to complete the purchase you may end up carrying two payments temporarily. Some buyers manage this through our Cash to Win program, either as the path they chose at the onset, or to save a deal when a contingency to sell is called due.
What actually decides it
Your equity and how much of it you need for the next purchase.
What your lender will approve while you still own your current home.
How quickly homes like yours are selling right now in your area.
How much disruption your household can absorb.
What this means for you
Before you tour a single home, write down what your ideal situation is, including the version where your home takes longer to sell than planned. If one path leaves you without a workable answer, that is the path to avoid.
Plan Your Next MoveRelated guides
General education from AM Realty MN, brokered by LPT Realty, LLC. Not legal, tax, or lending advice.