If you already own a home in Sudbury and are ready to move, one of the biggest questions is: Should you sell first or buy first? Both options have advantages and risks, and the right choice depends on your finances, timeline, and comfort with risk.
Let’s break down what Sudbury home sellers and buyers should consider.
What are the benefits of selling before buying?
More financial clarity: You’ll know exactly how much money you have from your sale before shopping for your next home.
Stronger buying power: With cash in hand, you may be in a better position when negotiating on houses for sale in Sudbury.
Less financial stress: No risk of carrying two mortgages at once.
What are the drawbacks of selling first?
Temporary housing may be needed: If you can’t find your next home right away, you may need to rent or stay with family.
Moving twice: Storage and extra moving costs can add up.
What are the benefits of buying before selling?
No rush to move: You can transition smoothly from one home to the next.
Pick the right home: You won’t feel pressured to buy quickly just to have a place to live.
What are the risks of buying before selling?
Carrying two mortgages: This can be financially stressful if your current home doesn’t sell quickly.
Bridge financing may be needed: Lenders can help cover the gap, but it comes with extra costs.
Market shifts: If Sudbury homes slow down in sales, you could be stuck with two properties longer than planned.
How do you decide what’s right for you?
Ask yourself:
Can I afford two mortgages if needed?
Do I have a backup plan if my home doesn’t sell quickly?
Am I comfortable moving twice if I sell before buying?
A trusted Sudbury realtor, such as Tanya Vanden Berg, can help you review your options, look at current market trends, and guide you to the best decision for your situation.
Key Takeaway: Selling before buying gives you financial security, while buying first offers convenience. The right choice depends on your risk tolerance, finances, and the pace of the Sudbury real estate market.
📞 Thinking of making a move? Let’s chat about your options and find the best strategy for your next step in Sudbury real estate.