For many people, buying a home before selling one that they already have a mortgage on is not ideal. The best course of action will depend on your personal circumstances, specifically your finances. The real estate market also plays a role. In a seller’s market, when homes are selling quickly and prices are high, buying before selling comes with less of a risk because of the demand. In a buyer’s market with lower prices and slower sales, it might be wiser to sell your home first to avoid carrying two mortgages.
