Ask the Agent: This Month’s Question

Should I buy a home first or sell mine first?

The answer: it depends on where you are. Your approach may change depending on whether it’s a buyer’s or a seller’s market in your area, and in the area where you want to buy.

In Canada, there’s been a shift in some areas towards a buyer’s market. The Canadian Real Estate Association (CREA) expects sales and prices to decline slightly in 2018.

Typically in a seller’s market, you would be inclined to buy first, as there are more buyers than available properties, and it might be harder to find a home you like. But it’s a great time to sell your own property.

In a buyer’s market, you may want to sell first, as there are more available properties than there are buyers. You will want to list first, as your home may be on the market for some time, and you don’t want to carry both. The bottom line? Do what’s best for your family.