Can I buy a home before I sell mine? Yes, you can buy a house before your current home is sold. However, there are a few important steps you need to follow to make sure you are successful at buying a new house before you sell your previous home. Step #1 is you need to make updates and create equity in your existing home to maximize your sale. Secondly, you need to get connected with a top listing real estate broker early in the process. Step #3 is for your real estate broker to do a detailed walkthrough of your home so you can prepare to sell it before you start looking for your next house. And finally, you need to be go-mode ready!
Can I Buy a Home Before I Sell Mine?
Listing Video in Post Production – Check Back Soon!
- Step #1: Make updates and create equity in your existing home to maximize your sale.
- Step #2: Connect with a top listing real estate broker early in the process.
- Step #3: Your real estate broker needs to do a detailed walkthrough of your home to prepare for the sale before you start looking for the next house.
- Step #4: Be “go mode” ready!
Can I Buy a Home Before I Sell Mine?
Can I buy a home before I sell my current home? I hear this question from our Team Diva clients ALL the time! The short answer is “Yes, you can!” Having been in business for over 20 years, many of our clients are now 2nd and 3rd time home buyers. Or, they are what we call a “buy-up buyer” in the business. As a buy-up buyer, you always have to ask yourself the question “Do I buy first then sell, or sell first and then buy?”
Many buyers aren’t actually sure if they can buy a home before they sell their current home. But you totally can! So far just this year, I’ve worked with 7 different buy-up buyers. 5 of these 7 buyers chose the “buy first, then sell” option, and here is why:
- Can’t Sell Home First: They have a big excitable dog, they work from home, they have a newborn, oh—and COVID.
- Rental Market is Hot and Expensive: Finding a rental and moving twice was way too costly and disruptive.
- Unicorn Shopping: They want to find that special unicorn house #3 or #4 before committing to selling their current home.
Regardless of the situation, all of these buyers had one thing in common. They understood that in order to make this process work they had to do some work upfront to their existing home. Especially here in Seattle.
I am going to walk you through the 4 steps you need to follow to make sure you are successful at buying a new house before you sell your previous home. And I am going to do this by explaining my own client’s process of how they bought a home before they sold the house they live in.
Here are the four steps my clients took to successfully manage the process of buying a new house before they sold their existing home:
Step One: Make Updates and Create Equity in Your Existing Home to Maximize Your Sale
My clients owned this delightful sunlit home in Greenlake for a long time before contemplating a move up to their “unicorn dream home.” During their ownership, they did some major upgrades to the property. There was a huge kitchen remodel. During this remodel they opened up walls, added wonderful windows, and installed new cabinets and countertops. They also made upgrades to high-end luxury appliances.
My sellers didn’t stop there. They also swanked up the upstairs bathroom, installed new wood and bamboo flooring, re-did the electrical, replaced the roof and the gutters, installed a gas line to the house, and added a tankless water heater. And that’s not even the entire list! Taking the time and energy to maintain, upgrade, and improve your home over the years is a lot of work. But it also means you will be able to build up the equity you need to make that future next home purchase a reality.
Step Two: Connect with a Top Listing Real Estate Broker Early in the Process
My awesome sellers found me and my team through our many online reviews. They saw the type of marketing we did almost a year before they moved. We immediately met with each other to talk about their own house and to strategize about the best approach to find their unicorn house. After meeting and chatting about their situation, I knew IMMEDIATELY they were the best candidates for the “Buy First Then Sell” option.
And here is why: My clients were looking for a very unique home in a specific neighborhood. They had a kiddo still in high school, they had a sweet but quite large and energetic puppy, and COVID is another factor. They would need to be out of the house for us to sell it, and given the circumstances, moving and renting indefinitely was not an option.
Step Three: Your Real Estate Broker Needs To Do a Detailed Walkthrough to Prep for the Sale Before We Started Looking for the Next House
Before we even chatted about their home purchase, we focused on the sale of their current home. I did a general market analysis so we could discuss a possible sale price. This way they would have a rough estimate of their current equity and be able to gauge their future purchase accordingly.
We also conducted a full walkthrough of the home together. This meant the sellers could show us all the great upgrades they had made to the home. We could also point out to them the items that needed to be addressed before listing. We spent a lot of time talking about maintaining and fluffing their incredible park-like yard. A few other to-dos included repainting the interior, refinishing the wood countertops in the kitchen, and of course, moving out and staging.
Step Four: Be “Go Mode” Ready
Because we had the conversation about prepping for the sale months before they even started house hunting, they were practically in “go mode” on listing their home as soon as the offer on their dream home was accepted! This meant purging stuff they didn’t want to take with them, packing, and starting to get the work done ASAP. And we were already lined up for painters, handypeople, and the gardener to start the work before we closed on their new house. This also meant we were able to get this home on the market pretty quickly after they moved out.
More Details About the Greenlake Home I Mentioned in the Video
My amazing seller clients did everything right to “buy first, then sell.” They invested a great deal of time, energy, and money in updating and improving this Greenlake home. The remodeled kitchen is absolutely stunning and features high-end appliances. 2 bathrooms were also completely remodeled. They also installed hardwood flooring and bamboo flooring. They had a new roof and gutters installed in 2016, redid the electrical, got a tankless water heater… and so much more!
All the Details About the Home
- MLS #1971031
- Address: 7706 2nd Ave NE, Seattle, 98115
- Listing Brokers: Kim V Colaprete and Roy Powell
- Square Footage: 2,240
- Bedrooms: 4
- Bathrooms: 1.5
- Parking: 3+
More details on the listing page >
Now You Know the Answer to the Question “Can I Buy a Home Before I Sell Mine?”
Can I buy a home before I sell mine? Yes, you can “buy first, then sell”! However, there are a few important steps to follow in order to be successful. Step #1 is to make updates and create equity in your existing home so you can maximize your sale. Next, you need to get connected with a top listing real estate broker very early in the process. Third, your real estate broker needs to do a detailed walkthrough of your home so you can prep it to sell before you start looking for your next home. And Step #4, you need to be “go mode” ready!
Can I Buy a Home Before I Sell Mine?
Listing Video in Post Production – Check Back Soon!
- Step #1: Make updates and create equity in your existing home to maximize your sale.
- Step #2: Connect with a top listing real estate broker early in the process.
- Step #3: Your real estate broker needs to do a detailed walkthrough of your home to prepare for the sale before you start looking for the next house.
- Step #4: Be “go mode” ready!
We are here to help. Our team understands that this process can take a year or two. And we are more than willing to give you a personalized plan to get the ball rolling. Feel free to contact us directly at thediva@teamedivarealestate.com or call/text 206-271-0264.
