By Stephen McCarthy
Ready to Trade Up? Here’s How to Make a Smooth Move
Thinking about upgrading to a new home? Making the transition requires a solid strategy—especially if you need to sell your current home to fund the purchase.
One option is to make an offer on your new home with a sale contingency, meaning the purchase depends on selling your current property first. On closing day, you sell your existing home and use the proceeds to close on the new one shortly after. While this was once a common approach, today’s competitive market makes sellers hesitant to accept sale contingencies.
If you’re in a position to buy without selling first, you have a major advantage. You can purchase the new home, move in, and then list your current property. It’s a smoother process—but it comes with risk. You won’t know the final sale price of your current home when making the purchase, which could impact your financial planning.
Most buyers, however, need the proceeds from their first home. That raises an important question: Where will you live between selling your current home and moving into the new one? You might consider temporary housing with family or a short-term rental.
Another option is to negotiate Use and Occupancy with your buyer. This allows you to close on your current home but remain in it for a short period while securing your next property.
Transitioning to a new home can feel overwhelming, but working with an experienced real estate agent who understands your goals can make all the difference. The right agent will help you navigate the timing, reduce stress, and potentially save you money.
Let’s make your move a smooth one.
If you're thinking about trading up, reach out to me—Stephen McCarthy—for expert guidance and a personalized strategy that fits your goals. I’m here to help every step of the way.
