Climbing the property ladder is no small accomplishment. When the time comes to move on from your first home to your forever home, it’s certainly exciting. 

However, although you have already been to the market once before, things will be a little different this time around. As a move-upper, you’ll now have two separate real estate transactions to prepare for. One is the sale of your current home, and the other is the purchase of your next one. 

So, which one should come first? 

That’s the million-dollar question – and spoiler, the answer is not as simple as you might think. Let’s take a closer look. 

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It Starts With You

As a move-upper, choosing the right path forward starts with thinking about where you want to end up. 

One of the direct advantages of moving up (versus buying for the first time) is that you have built-in equity from your current home that you can use towards your next purchase. As a result, you may have greater flexibility when creating your home wishlist this time around.

If you’re not 100% sure of what you’re searching for just yet, that’s ok. Take a moment to consider what your intentions are for upsizing in the first place. 

  • Is your family growing and in need of more space?
  • Are you looking for a change of scenery?
  • Do you wish to expand your personal equity by moving up to a larger asset?

From afar, these details might seem small or insignificant but they’re actually quite important. Once you’re ready to get moving, your real estate agent will take these factors into account when making a recommendation on how to get started. 

Looking for more blog posts about home buying in our neck of the woods? We’ve got you covered. 

Market Happenings 

Alongside looking into what you’ll need from your next home, current trends within the local market will also be an influential factor in deciding whether to buy or sell first. 

As broader social and economic trends shift, real estate shifts too. Whether it’s a seller’s market, buyer’s market, or somewhere in between, creating a move-up plan that’s in tandem with current trends is an essential step in finding success. 

For example, if there are already several homes listed in your area, it may take longer for you to sell. Therefore, your agent might suggest selling first. Or, if inventory is low, you may be better off buying first. 

Local Nuance

Adding a layer of complexity to this factor are the local nuances of Durham Region and the Kawartha Lakes. Around here, market conditions can change at a neighbourhood or community level. One area might see trends that favour buyers, while another could be in a seller’s market. 

Here’s where market trends go hand-in-hand with your personal real estate goals. Depending on what you’re looking for in your next home, you could be moving from one micro-market to another – meaning an entirely new smorgasbord of conditions to navigate. 

With this in mind, working with an agent who lives and breathes real estate in this part of the province will be an essential part of your success – more on that in a moment. 

Want to know more about getting the best result on your sale? We’ve got tips for that too!

Guiding You From Point A to Point B

Deciding whether to buy or sell first can be a complex decision. However, it’s not the only big choice involved in your move. As an upsizer, you’ll have two separate but equally important transactions to navigate. So you should put some thought into which real estate agent you want to work with. 

The Puckrin & Latreille team has over 175 years of combined industry experience in Durham Region and the Kawartha Lakes. When it comes to buying, selling, and everything in between, we’ve pretty much seen it all. Regardless of what the market throws your way, we have the expertise, know-how (and intuition) to help you reach your goals.

After getting a sense of your needs and vision for the future, we’ll craft a personalized, market-informed plan for your move. In both stages of your upsizing journey, we’ll take on the heavy lifting, letting you relax and focus on your upcoming chapter. 

Thinking about moving up to a new home? We’re your ticket to a top-notch, 360° real estate experience. Call 905-985-7300 to reach out or click here to send us an email

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