In Vancouver’s current market, which is much more balanced than previous years, move-up buyers finally have something we didn’t see for a while: options. With inventory levels stabilizing at about a 4-month supply, buyers have the time and the ability to be more strategic in their decision-making. However, the age-old question remains: do you find the new dream home first, or secure a buyer for your current one?

Many buyers are dependent upon the equity and proceeds of their sale in order to purchase a new home. By securing a buyer for your current home first, you know exactly how much you can afford to spend on the next.

The Pro: You are a “non-contingent” buyer. In a market where well-priced homes still move fairly quickly, an offer not tied to a home sale is much more attractive to sellers.

The Con: The clock starts ticking. If your home sells fast, you may need additional time. In this situation, it may be possible to occupy your home for up to 60 days after possession, something I have helped many clients negotiate with their buyers for peace of mind while looking for the next home.

If the thought of temporary housing makes you break out in hives, you might prefer to find the new house first.

The Pro: No rushing. You only move once, and you don’t list your current home until you know where you’re going.

The Con: Financial overlap. You may need a Bridge Loan or HELOC to cover the down payment before your current equity is released. You also risk the stress of carrying two mortgages if your first home takes longer to sell than expected.

Regardless of which strategy you choose, I will be there every step of the way to give you the information that you need to make informed decisions.