Selling your current home while searching for your next? Here’s how to approach it.
If you’re thinking about making a move here on Maryland’s Eastern Shore, you might be wondering how to handle the timing of selling your current home and buying your next one.
Should you begin your home search now, or is it better to sell first before jumping into the market?
The answer depends on a number of factors—and that’s where having a trusted local real estate partner comes in. At Benson & Mangold Real Estate, our experienced agents are here to guide you through the process and help you decide what makes the most sense for your situation.
That said, in many cases, selling your home first can offer several key advantages. Here's why:
The Advantages of Selling First
1. You Can Unlock Your Home Equity
Over the past few years, property values across the Eastern Shore have seen strong appreciation. That means many local homeowners have built up significant equity. In fact, recent data from Cotality (formerly CoreLogic) shows the average homeowner has about $302,000 in equity right now.
By selling first, you can put that equity to work—whether it’s funding the down payment on your next home, covering moving expenses, or even purchasing your next home with cash.
2. You’ll Avoid the Stress of Two Mortgages
Buying before you sell can lead to a period where you’re carrying two mortgages. That’s not only stressful, but it can also be costly—especially if your current home takes longer than expected to sell or needs unexpected repairs.
Selling first helps reduce that financial pressure and simplifies your transition.
As Ramsey Solutions puts it:
“It’s best to sell your old home before buying a new one to avoid unnecessary risks and possible headaches.”
3. You’ll Strengthen Your Offer on Your Next Home
In a competitive market, sellers tend to favor clean, uncomplicated offers. If you’ve already sold your current home, you may be able to submit an offer without a home sale contingency—making you a more attractive buyer.
Your Benson & Mangold agent can help craft a compelling offer that positions you for success.
This simple visual (below) can help you weigh your options—but for guidance tailored to your specific situation, there’s no substitute for speaking with a trusted local agent.
One Thing to Consider
You Might Need Temporary Housing
Selling first may mean there’s a gap between closing on your current home and moving into your next one. But don’t worry—there are ways to manage this transition.
Our agents regularly negotiate post-settlement occupancy agreements, flexible closing timelines, or can help you explore short-term rental options if needed.
So, What’s the Right Move for You?
The best way to decide whether to sell or buy first is to talk with an experienced local agent who understands our Eastern Shore market. We'll help you:
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Assess your current home equity
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Understand local inventory and timing
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Explore your financial options and comfort zone
Bottom Line
In many cases, selling first puts you in the driver’s seat—giving you more control, more financial flexibility, and more confidence as you move forward.
If you’re ready to start the conversation, we’re here to help. Let’s talk about your next steps and make your move a smooth one.
Benson & Mangold Real Estate
Local Knowledge. Trusted Results.
📞 Contact us today to connect with an agent near you.
