3 Proven Strategies for Buying a New Home While Selling Yours
Buying a new home while selling your current one can be challenging, especially in fast-growing areas like Millbridge, Waxhaw, and Charlotte. With the right plan and expert guidance, it doesn’t have to be overwhelming. The first thing you should do is connect with an experienced real estate professional who knows the local market inside and out.
It may sound a bit like a sales pitch, but I promise it’s not. I’ve managed hundreds of home transactions across Millbridge, Waxhaw, and Charlotte, and by talking first, I can offer a tailored strategy for your move. Understanding what to expect when selling your home in Millbridge, while also identifying the best opportunities for your next home in Waxhaw or Charlotte, can be key to reducing stress and ensuring a smooth transition.
It’s also essential to work with a trusted lender early in the process. When you’re both buying and selling, knowing your financials—beyond assumptions—can make or break your strategy. Here are three smart strategies for buying and selling a home in Millbridge, Waxhaw, and Charlotte at the same time.
1. Buy First, Then Sell
If you have enough equity or access to financing options, buying your new home before selling your current one could be a great strategy. This allows you to secure your next home—whether it’s a larger property in Waxhaw or a luxury listing in Charlotte—without the pressure of needing to sell your current home immediately.
One benefit of this approach is that after closing on your new home, your first mortgage payment won’t be due until the first day of the following full month, which gives you some extra time to manage the sale of your existing home. This strategy works well for those with financial flexibility and can help alleviate the stress of moving.
2. Make a Contingency Offer
A contingency offer means you make an offer on a new home with the condition that your current home must sell first. This can be a little trickier, but it’s still a viable option—especially in the Millbridge and Waxhaw markets. A strong agent with a proven track record in these areas is key to getting your contingency offer accepted.
I’ve consistently helped clients in Millbridge sell their homes faster, with higher list-to-sale price ratios, and fewer days on market compared to other agents. My experience gives listing agents or builders confidence that your home will sell quickly, increasing the chances of getting your contingency offer accepted.
3. Sell First, Then Buy
Another solid strategy is to sell your current home, secure a buyer, and then negotiate a rent-back agreement. This option allows you to stay in your home temporarily while you shop for your new home, whether you’re eyeing a new construction property in Waxhaw or an established neighborhood in Charlotte.
With this approach, you’ll have the advantage of knowing exactly how much your home sold for, which can help guide your next purchase. Negotiating a rent-back agreement with your buyer will give you extra time to find the perfect next home without the pressure of moving out immediately.