A Realtor’s Guide to Making the Right Move in Calgary’s Market
Whether you’re upsizing, downsizing, or relocating, one of the most significant questions we help clients answer is: Should I buy my new home first, or sell my current home before shopping the market?
With over 25 years of combined experience navigating Calgary’s dynamic real estate landscape, we can confidently say that there’s no one-size-fits-all approach. Instead, the right decision comes down to each client’s financial position, timelines, needs, risk tolerance, and — most importantly — the current market conditions.
Let’s walk through the pros and cons of each strategy to help you determine which might be the best fit for your situation.
Buy First, Then Sell - When It Works
A buy-first strategy often makes sense in tight markets, where competition is high, inventory is low, and finding the right home takes time.
Benefits of buying first:
- You only move once. Buying first allows you to avoid the disruption and cost of temporary housing between transactions.
- You have time to find the right property. Without the pressure of an imminent possession date, you can focus on finding a home that truly meets your needs.
- You can use the “Sale of Buyer’s Home” (SOBH) condition. This lets you make an offer that’s conditional on the sale of your current home, giving you valuable breathing room between buying and selling.
Despite the benefits of buy-first strategies, there are some drawbacks to consider:
- Mortgage qualification is key. You'll need to be pre-approved for financing without a firm sale on your current home—something not every buyer can qualify for.
- Budget uncertainty. Without knowing precisely what your current home will sell for, it’s harder to set a confident budget for your next purchase.
- Potential for double mortgage payments. If your home doesn’t sell promptly, you may be juggling dual mortgage payments, adding stress and urgency to reduce your list price for a quicker sale.
- SOBH condition offers can be less attractive to sellers. These are seen as riskier by sellers and typically include a 48- to 72-hour “escape clause,” allowing sellers to accept stronger backup offers. In competitive markets, this condition can reduce your negotiating power.
Sell first, Then buy - Playing it Safe
Selling your home first is typically the more conservative approach, especially in buyer-heavy markets where homes can take longer to sell and new listings are more abundant.
Benefits of selling first:
- You know your exact budget. With a firm sale, you’ll know how much you can spend, helping you shop with confidence and clarity.
- Stronger position. Offers without sale conditions are more attractive to sellers, giving you an edge in negotiations.
- Reduced financial risk. No double mortgage payments, and less likelihood of buyer’s remorse from making a rushed decision under pressure.
As with buy-first strategies, sell-first approaches also come with drawbacks we like homebuyers to be aware of before choosing a strategy that’s right for them:
- Timing pressures. Even if you ask for a longer possession (60–90 days is typical), when you sell your home, there’s still a risk you won’t find the right home in time.
- Temporary housing may be needed. If the perfect home doesn’t appear within your time frame, you might need to bridge the gap with a short-term rental or Airbnb. It’s good to have a backup plan in place before you sell, along with an estimate of how much temporary housing will impact your overall budget.
- You may feel rushed. The pressure of a deadline can lead buyers to compromise on essentials, such as location, home size, or features, sometimes resulting in regrets.
Our Advice: Let the Market Guide You
At TB Real Estate Team, our guiding philosophy is generally: Do the more complicated transaction first.
If current market conditions make it harder to find a home, consider buying first and preparing your existing property for a smooth sale.
If your inventory is high and you anticipate that your home may take longer to sell, then consider selling first. You’ll have more options and be in a stronger position when it comes time to buy.
Remember, there’s no “right” answer, only the right strategy for you, depending on your situation and circumstances.
If you’re unsure, we’re here to help. With decades of experience in both hot and balanced markets, we’ll walk you through your options, connect you with trusted mortgage advisors, and create a plan that protects your finances — and your peace of mind.
