Updated September 2026
Option 1: Sell first
Pros: you know exactly how much you have to spend, and you can make clean, strong offers on your next home.
Cons: you may need to rent or stay somewhere in between if you don't find the right home in time. You can reduce that risk by asking for a longer completion date on your sale.
Best when: the market is slow or softening, or you can't afford to own two homes even briefly.
Option 2: Buy first
Pros: you secure the home you want, with no pressure to settle.
Cons: you risk owning two homes if yours takes longer to sell or sells for less than you hoped.
Best when: homes like yours sell quickly, you have enough equity or income to carry both for a while, or the home you want is rare.
Option 3: Buy subject to selling
You make an offer on your next home that depends on your current home selling. Sellers are more likely to accept if your home is already listed and priced well. Expect them to add a time clause so they can keep marketing.
Bridge financing
If you buy before your sale completes, many lenders offer short-term bridge financing to cover your down payment until your sale money arrives. It usually requires a firm sale on your current home. Talk to your lender or mortgage broker before you start looking so you know what's available.
Getting the dates to line up
The ideal is completing your sale and your purchase on the same day or a day apart. Your lawyer or notary can handle both. Build in a few days of buffer where you can.
Frequently asked questions
Should I sell my house before buying another in Vernon?
In a slower market like fall 2026, selling first is usually the safer choice. In a fast market, or if you have plenty of equity, buying first can work.
What is bridge financing?
A short-term loan that covers your down payment on the new home until the money from your sale arrives. Lenders usually require a firm sale on your current home first.