Your decision should be based on the current market conditions. In today’s market, buyers have a stronger position than sellers simply because of the number of properties moving. In this type of market it is more financially safe to sell your existing house before buying the next one.

Advantages of selling first:

1. You have cash ready to purchase the next house. This makes you a very strong buyer.

2. You do not have to worry about being pressured to take less for your house because you are in a hurry to sell.

3. As a seller you can ask for a longer closing period to give you more time to find a new home.

Disadvantage of selling first:

1. If your home sells, you may need to find a place to stay while you are looking for your next home. But remember you have the power to determine how quickly your home sells!

So while there are many things to consider, think about the market and who holds the power. Since you will be both buyer and seller at some point, you want to make yourself as strong as possible in the weakest area. The stronger position will take care of itself.

I would love to hear your thoughts on this column and future requests. Email me your questions or comments at Wendy@mwlco.net