Which should come first: buying or selling?
Selling first makes the sale outcome clearer, but you still need to find your next home. Buying first secures a specific home while leaving your sale unresolved. Start with your housing needs, flexibility and backup plan. Sue can coordinate the property timeline; confirm financing with your lender and contract questions with your lawyer before committing.
Start with the constraint that matters most
Selling first clarifies the sale price once a firm agreement is in place, but you still need a next home. Buying first secures a particular home under the purchase agreement, but leaves your sale price and timing open. The better sequence depends on your cash buffer, financing and flexibility.
Two transactions. One life plan.
Moving homes involves two sets of dates and two sets of unknowns. Write down the constraints that cannot easily move: work, school, accessibility needs and temporary accommodation. Then identify where you have flexibility. That practical picture should guide the conversation before choosing a sale-first or purchase-first approach.
Understand what each sequence changes.
Selling first can make the sale outcome clearer while leaving the next home to be found. Buying first can secure a specific home while leaving the sale outcome unresolved. Neither sequence removes uncertainty. Discuss the financing implications with your lender and the contractual implications with your lawyer before committing to a plan.
Build a backup plan while you still have choices.
Talk through what would happen if either side takes longer than expected. Consider storage, temporary living arrangements and the people who need advance notice. Sue can help coordinate a practical timeline and the property decisions, while specialist advisers confirm the parts within their expertise.
Compare both plans on one page
Use your own dates and written estimates. A firm sale is not the same as receiving the closing funds.
Swipe sideways to see every column. With a keyboard, focus the table and use the arrow keys.
| Decision | Sell first | Buy first |
|---|---|---|
| Cash before closing | Plan the purchase deposit before sale funds arrive. | Confirm deposit, closing funds and any bridge financing with the lender. |
| If dates do not align | Budget for temporary housing, storage and an extra move. | Budget for an overlap in housing payments and a slower sale. |
Stress-test a delay before committing
Hypothetical cash stress test, in Canadian dollars. Assume C$20,000 is available after setting aside the purchase deposit, closing funds and essential household reserves. A delay adds C$6,000 a month in overlapping housing payments above the original plan. After three extra months, only C$2,000 remains. This tests cash capacity, not the probability of a delay; mortgage principal uses cash but is not an economic expense. Confirm lender-approved financing and contract obligations before committing.
Swipe sideways to see every column. With a keyboard, focus the table and use the arrow keys.
| Extra months | Extra cash needed · C$ | Buffer remaining · C$ |
|---|---|---|
| 1 | 6,000 | 14,000 |
| 2 | 12,000 | 8,000 |
| 3 | 18,000 | 2,000 |
Two Markham examples: track the sale milestones before your next move
Compare two local examples of the work through the conditional period. At 44 Kenley Crescent, the records show an accepted offer, deposit confirmation and condition-removal updates. At 39 Victoria Wood Avenue, the team followed through to the notice that all buyer conditions were removed.
Keep exploring
A PERSONAL CONVERSATION