An Ultimate Guide to Buying and Selling a Home at the Same Time

Navigating the process of buying a new home while selling your current one can feel like walking a tightrope. The stakes are high, the timing is crucial, and the financial implications are significant. But here's the good news: you're not alone, and with the right strategies, you can turn this challenge into a seamless transition.

The Reality: You're Not Alone

In 2024, 72% of homeowners who sold their home also purchased another, according to Realtor.com. This means millions of people are navigating the same journey you're considering—and many have done so successfully. The key is understanding the landscape and employing the right strategies.

Step 1: Understand the Market

Before making any move, understand both the statewide New York market and your local area.

Key New York State Stats (2025)

• Median Home Price: ~$577,100 (up 10.5% YoY)

• Homes for Sale: 54,416 (up 5.5% YoY)

• Average Days on Market: 42

• Home Equity Growth (2020–2025): 74% increase statewide

• Seller vs Buyer Advantage: Some counties favor sellers; others, buyers—check local trends before committing.

These numbers highlight a generally strong market for sellers, but local dynamics vary significantly—from the Hudson Valley to Long Island to Upstate New York.

Step 2: Finance Options When You Still Own a Home

Financing a new home while holding your current one can feel tricky, but there are multiple options:

Step 3: Timing Your Sale and Purchase

Timing is everything. Here’s how to navigate it:

• Selling First: Puts cash in your pocket and eliminates the risk of carrying two mortgages. Best in seller-friendly markets.

• Buying First: Provides certainty about your next home, but you may need a bridge loan or temporary housing. Best when inventory is tight and competition is high.

• Overlap Strategy: Sometimes closing both deals within days of each other is possible, but requires careful coordination with agents, lenders, and attorneys.

  
  

Step 4: Contingency Offers

• Contingent offers can be a safety net but are sometimes seen as weaker in competitive markets.

• Options include sale contingency (new home purchase depends on selling your current one) or financing contingency (purchase depends on securing a loan).

• Sellers may require concessions, such as a higher offer or faster closing.

  
  

Step 5: Temporary Housing Solutions

If selling first before buying, explore:

• Short-term Rentals – Flexible leases in your desired area.

• Corporate Housing – Fully furnished units for weeks or months.

• Family or Friends – Cost-effective but may require flexibility.

Having a plan ensures you’re not rushed or stressed between moves.

Step 6: Insider Tips for a Smooth Transition

1. Pre-Approval First: Gives you negotiating power as a buyer.

2. Stage Your Home: Professionally staged homes sell faster and for more money.

3. Negotiate Closing Dates: Ensure sufficient time between closings for moving.

4. Work With Experts: An agent familiar with simultaneous transactions is invaluable.

5. Plan for Fees: Don’t forget moving costs, inspections, and potential repair costs on both properties.

6. Track the Market: Monitor inventory, mortgage rates, and local sales trends.

   
   

Step 7: Common Pitfalls to Avoid

• Overleveraging: Don’t take on too much debt relative to your income.

• Ignoring Market Trends: Every county differs; state averages don’t tell the full story.

• Skipping Inspections: Even if selling fast, inspections protect you from costly surprises.

• Poor Coordination: Closing dates must align; mismanagement can cost thousands.

  
  

Step 8: Make Your Move With Confidence

Buying and selling at the same time is challenging, but entirely achievable. By understanding the New York State market, leveraging financing options, timing strategically, and working with experts, you can make a smooth, profitable transition.

Contact me today to craft a personalized strategy for buying and selling your home seamlessly.