Can I Buy a Home Before Selling My Current House?

Many homeowners assume they have to sell their current home before buying another one, but that’s not always the case.

If you’re looking to move into a larger home in Peotone, New Lenox, Frankfort, Manhattan, Mokena, Beecher, or elsewhere in Will County, you may have several options depending on your finances and current equity.

Some homeowners qualify for bridge loans or home equity financing, while others choose to make an offer contingent on selling their existing home. Each option has advantages and disadvantages depending on the current housing market.

One of the biggest concerns I hear is, “What if my home doesn’t sell before I find the perfect house?” The good news is there are strategies that can reduce that risk.

Planning the timing of both transactions is one of the most important parts of the process. Selling too early may leave you searching for temporary housing, while waiting too long could cause you to miss opportunities.

If you’re thinking about upsizing anywhere in Will County, Kankakee County, or Southern Cook County, creating a plan before listing your home can make the transition much smoother.

Frequently Asked Question:
Should I list my home before shopping for another one?

In most situations, yes. Understanding your home’s value and buyer demand allows you to make stronger purchasing decisions.