It's the question most of our clients ask when they move: do we buy first or sell first? There is no single right answer. Each way has a real cost. This guide walks through both, so you can pick the one that suits your finance, your timing and your nerves.
Option 1: Sell first
You sell your home, then buy the next one with a known budget.
Why people choose it
- You know exactly what you have to spend.
- You can make a strong, unconditional offer on your next home.
- There is no risk of owning two homes and paying two loans.
What it can cost
- You might need somewhere to live between settlements.
- That can mean rent, storage and two moves.
- You could feel rushed to buy if the right home doesn't come up quickly.
How to make it easier
- Ask for a longer settlement when you sell. Many buyers will agree to 90 days or more.
- Ask for a rent-back. The buyer settles, and you stay on as a tenant for a set time.
- Start looking at homes before your sale settles, so you know what's out there.
Option 2: Buy first
You buy the next home, then sell the one you're in.
Why people choose it
- You secure the home you really want.
- You only move once.
- It suits buyers chasing something rare, like a certain street or a single-level home.
What it can cost
- You may need bridging finance to carry two homes for a while.
- Bridging loans often cost more in interest and fees.
- You may feel pressure to accept a lower price so your sale settles in time.
How to make it easier
- Talk to your broker before you offer. Know your bridging limit and your end date.
- Get a realistic sale price for your current home first, based on recent sales.
- Prepare your home for market early, so it can list the week you buy.
Option 3: Line them up together
Some people sell and buy at the same time and settle both on the same day. This is the cleanest result when it works. It takes planning, a cooperative buyer and seller, and a good solicitor on each side.
You can also make an offer that depends on your home selling first. In a busy market, many sellers won't accept this. In a quieter market, it can work.
Four questions to answer first
- How much can you borrow? Your broker can tell you what you can carry, and for how long.
- How fast do homes like yours sell? Check recent sales in your suburb, not just asking prices.
- How specific is your next home? The rarer it is, the more buying first makes sense.
- How do you handle risk? Some people sleep better knowing their budget. Others would rather not miss the right home.
What we see in Canberra
In a steady market, most families we help are safer selling first. They agree a settlement date that suits them, then buy with a known budget. When the next home is rare, buying first can be worth the extra cost. In that case, we help you prepare your home before you buy, so it's ready to list straight away.
Whichever way you go, the key is a realistic price for your current home. That number drives every other decision.
Next step: Planning both a sale and a purchase? See how we help families buy and sell in the right order, start our Sellers Course, or book a time to talk through your timing.
This guide is general information only. Speak to your broker and solicitor about your own situation.
