Short answer: If you need the money from your current home to buy the next one, selling first is usually the safer route.

If you can comfortably buy without selling first, buying the next home before you sell can make the move easier.

The right answer really comes down to three things:

your money, your timing, and how much risk you’re comfortable carrying.

This is one of those questions where I don’t think there’s a one-size-fits-all answer.

I’ve seen both approaches work.

I’ve also seen people get themselves pretty stressed because they didn’t think through what would happen if one side of the move took longer than expected.

First Question: Do You Need the Equity From Your Current Home?

This is where I’d start.

Let’s say you own a home in Smithfield and you’ve built up a good amount of equity.

That equity may be what you plan to use for:

• The down payment on your next home
• Closing costs
• Paying off debt
• Moving expenses
• Keeping your next mortgage payment comfortable

If you need that money to buy, then selling first may make the most sense.

Otherwise, you could find the next house you love and realize you can’t actually move forward until your current home sells.

That creates pressure.

And pressure usually isn’t your friend in a real estate transaction.

What Are the Advantages of Selling First?

The biggest advantage is certainty.

Once your home sells, you know exactly how much money you have to work with.

You know what your proceeds are.

You know what price range makes sense for the next home.

And when you make an offer, you may not need to make that offer dependent on selling another property.

That can make things simpler.

It can also put you in a stronger position when you find the next house.

The downside?

You might sell before you find somewhere to go.

That could mean:

• Staying with family
• Renting something temporarily
• Putting belongings in storage
• Moving twice

Nobody loves that.

But for some sellers, a little temporary inconvenience is better than owning two homes and two mortgage payments at the same time.

What About Buying First?

Buying first has one huge advantage:

you know where you’re going.

You can move into the new place and then sell the old home without trying to line up two moving trucks, two closings and your whole life on the same afternoon.

That’s appealing.

It can also make getting your current home ready to sell easier.

Once you’ve moved out, we can clean it, make repairs, touch up paint and show it without working around pets, kids, furniture and your daily schedule.

But there’s an obvious catch.

Can You Afford Two Homes If Yours Doesn’t Sell Right Away?

This is the question I’d want answered before buying first.

Not:

“Can I afford two mortgage payments for one month?”

I’d ask:

“What happens if I have two homes for three months?”

Hopefully that never happens.

But I don’t like building plans around everything going perfectly.

Homes in Hampton Roads are still selling, but buyers have more choices than they had a year ago.

REIN reported 6,097 active residential listings in Hampton Roads in July 2026, up 7.64% from the previous July. Suffolk alone had 573 active listings and a 3.75-month supply of inventory, giving buyers there more leverage than in several other parts of the region.

More competition means I wouldn’t automatically assume your current home will sell the first weekend.

It might.

But I want a plan that still works if it doesn’t.

Can I Make My Purchase Contingent on Selling My Current Home?

Sometimes.

This is called a home-sale contingency.

Basically, your offer on the next house depends on your current home selling.

That can help protect you from being forced to buy the new home before your current one closes.

But there’s a tradeoff.

From the seller’s side, your offer has another moving part.

If they have another buyer who doesn’t need to sell a home first, that offer may look simpler.

Does that mean contingent offers never work?

Not at all.

They work all the time.

It just depends on the house, the competition, the terms of the offer and what’s happening in that particular market.

What If I List My Home Before I Find the Next One?

This can be a good middle ground.

We get your home ready.

We put it on the market.

Then once we know there’s real buyer interest — or even have it under contract — you may feel much more comfortable making an offer on the next home.

The tricky part is timing.

Your buyer has a closing date.

The seller of the home you’re buying has a closing date.

Your lender has deadlines.

Inspectors, appraisers, movers and attorneys all have schedules too.

That’s why these transactions need a plan.

Trying to figure all of that out after both contracts are signed can get messy.

Don’t Forget About Getting Your Current Home Ready

If you’re thinking about selling and buying at roughly the same time, I wouldn’t wait until you find your next house to start preparing the current one.

That’s how people suddenly find themselves trying to do two months of work in ten days.

Start early.

Walk through the house.

Figure out what really needs attention.

You may decide there are a few repairs worth making before you sell.

You may decide a pre-listing inspection would help.

Or you may decide the house is perfectly fine and just needs cleaning and good presentation.

The point is:

do the thinking before you’re under pressure.

What About Pricing?

This one matters a lot when your next purchase depends on the sale.

If we price your current home too aggressively and it sits, everything behind it can get harder.

Now you’re worried about the house you’re buying.

Your closing dates may be getting closer.

And suddenly every showing feels like an emergency.

That’s not where I want my sellers.

I’d rather price the home based on what buyers are actually willing to pay and give ourselves the best chance of keeping the move on track.

What I’d Tell a Smithfield Homeowner Sitting Across the Table From Me

If you came into my office tomorrow and said:

“Jason, we want to move. Do we buy first or sell first?”

My first question wouldn’t be about houses.

It would be about your situation.

Do you need your equity?

Could you comfortably carry two homes?

How hard will it be to find what you want to buy?

What happens if your house takes longer to sell?

Could you handle temporary housing if we sell first?

Once we know those answers, the right strategy usually starts to become pretty clear.

For a lot of people, selling first gives them more certainty.

For others, buying first makes life much easier.

Neither one is automatically right.

The mistake is getting halfway into the process before figuring out which one actually fits you.

Thinking About Selling and Buying Your Next Home?

If you’re thinking about selling a home in Smithfield, Isle of Wight, Carrollton, Suffolk or elsewhere in Hampton Roads and buying another one, ask me before you start making moves.

Call or text me at 757-880-7061 or email me at [email protected].

Tell me what you’re trying to accomplish, and we can talk through the order that makes the most sense for you.

No pressure. Just a plan.

Jason Goodin
Principal Broker
Virginia 1st Realty Group

Frequently Asked Questions

Is it better to sell my house before buying another one?

If you need the equity from your current home to purchase the next one, selling first is often safer. If you have the financial ability to own both homes temporarily, buying first may make the move easier.

Can I buy another house before my current house sells?

Possibly. Your lender can help determine whether you qualify while still carrying the mortgage on your current home. I’d get that answer before shopping seriously.

Can I make an offer that depends on my home selling?

Yes, a buyer can sometimes make an offer with a home-sale contingency. Whether that offer is competitive depends on the property, the seller and the current market.

What happens if my house sells before I find another one?

You may need temporary housing or storage. In some transactions there may also be ways to negotiate timing between the parties, but those arrangements depend on the specific situation.

Should I get my home ready to sell before I start looking?

Usually, yes. Even if you don’t list immediately, knowing what repairs or preparation your home needs can save a lot of stress once you find the house you want to buy.