5 Tips for Selling and Buying a Home at the Same Time

Ryan Debler


Edmonton real estate

Set in the heart of the Canadian prairies, the sophisticated city of Edmonton shines into the night sky. Edmonton is the largest northernmost metropolis in Canada. The lifestyle in Edmonton is wild, adventurous, and filled with luxurious opportunities to enjoy nature. A short drive from internationally renowned parks such as Banff National Park and Jasper National Park, Edmonton is situated for residents to enjoy some of the most glorious beauty on Earth.

Edmonton is filled with things to do, such as its year-round festival culture. There’s always something to celebrate in Edmonton, and the city has a rich arts and culture scene. Edmonton has live music, theatre, international film festivals, winter cheer, and so much more.

If you’re considering buying a home in Edmonton, you may also need to sell your current home. Selling and buying houses simultaneously can be exciting and complex. Our guide will walk you through some tips to make the process a breeze.

1. Understand your financials

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The first step to selling and buying a home at the same time is to understand your finances. Start by reviewing how much you have left to pay on your current home. Examine how much you estimate your home may sell for, and then consider how much equity is in your home currently. Equity is the amount your home is worth minus the amount you still owe on the house. In other words, equity is the net profit from your home investment.

Then factor in your budget for your new home. How much cash do you have for a down payment on the new house? This is especially important if you plan to buy a new home before selling your current one. You’ll need cash upfront to secure the listing. All these factors will play a role in whether you buy your new home first or sell your current one — and which properties will fit your budget.

2. Plan and practice patience

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Selling and buying a home at the same time requires a bit of planning and some patience. Two scenarios can occur in this process. First, if you sell your current home before buying a new one, you’ll need somewhere to stay in between and store your belongings. If you own additional properties, this might not be an issue. However, it is a situation to plan for carefully. On the other hand, to buy your new home before selling your old one, you’ll need to be in a good financial condition to offer a down payment and have cash for closing costs on both homes. There is also an option of purchasing a new home that is subject to a firm sale on your current home. This is sometimes a challenging task but can be handled with a proper planning process.

Simultaneous buying and selling can be rewarding because you can quickly affect change in your life and move into your new home. Be patient when searching for your new home, and ensure that you find the exact fit.

3. Stage your home for a quicker sale

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To help with the selling process, it’s crucial that your home looks as luxurious and appealing to buyers as possible. An important strategy is to hire a professional stager. Stagers are design professionals that understand market trends and what’s currently attractive in the design world. They know what kinds of homes buyers want to see and are experts at cleaning, decluttering, and organizing your home. When a stager is finished, your house will look open, bright, and stylish.

Professional stagers also work with landscapers to upgrade your home’s exterior. With excellent curb appeal, your house will get buyers’ attention, possibly leading to a bidding war.

Professional stagers also typically work with professional photographers to get the best listing photographs for your home. The photographs in your listing are the first way buyers interact with your home. Having high-quality, professional photographs that accurately show the value of your home is crucial to getting faster sales.

4. Understand the market

It’s essential to understand the local market you’re buying and selling in. This will help you decide whether to sell your current home before buying your new one (or vice versa). In a seller's market, it’s feasible to add contingencies that allow you time to find your next home, even if you close the sale. It might be easier to find your new dream home in a buyer's market.

5. Work with a great realtor

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When you’re ready to take on the challenge of selling and buying a home simultaneously, you will need a great realtor. Realtors are real estate professionals who guide you through every step in the process. They are held to high standards of ethics and must always guide you to choices that reflect your real estate goals. Good realtors have excellent connections in their local area. They can find listings that aren’t public yet, source a great pool of potential buyers, and contact other professionals you might need throughout the process, such as contractors and stagers.

Work with Ryan Debler

When you’re ready to take on the challenge of buying and selling your Edmonton property, you will need a great realtor to make the process easy and enjoyable. Ryan Debler provides an unparalleled luxury experience in the Edmonton area and knows how to partner with outside brands for memorable showings. Soon, you’ll finalize the contract to sell your Edmonton real estate for the value you deserve.

Ryan specializes in showcasing your home through the use of high-quality photographs, three-dimensional tours, stunning videos, and brochure advertisements to ensure that the right people are drawn to your listing. Ryan is also known for his creative collaborations with luxury brands like Mercedes Benz, luxury hotels, and more to expand listing exposure for his clients and help them sell their properties for great offers. Ryan is the ultimate luxury real estate specialist in the Edmonton area and is ready to help you easily buy and sell your home. Reach out today to learn more.

*Header photo courtesy of Shutterstock


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