Buying a new home while selling your current one can feel like a high-stakes juggling act. You’re trying to time two major financial transactions, possibly move your family, and still keep some sense of order and sanity through it all.
It’s a lot. But it doesn’t have to be overwhelming. With the right planning, financing strategy, and a team who knows how to manage the moving parts, you can pull off a successful move without losing your mind—or your money.
At Lockstep Realty, we’ve walked dozens of Central Indiana clients through this exact situation. Let’s break down how to make it all work—from the financing side to the logistics—so you can transition smoothly into your next chapter.
Why This Transition Feels Like a Tightrope Walk
If you’re a homeowner looking to upgrade, relocate, or downsize, buying and selling at the same time probably feels like an unavoidable puzzle.
You might be wondering:
-
Will I sell my current home too fast and have nowhere to go?
-
What if I find my dream home but can’t buy it without the proceeds from my sale?
-
Do I really want to carry two mortgages, even for a short time?
The pressure is real—and the timeline matters. But with a smart plan and a team that understands all the variables, it’s absolutely doable.
Timing Options: What Comes First—Buying or Selling?
When you’re trying to move from one home to another, there are three main timing strategies. The best choice for you will depend on your finances, flexibility, and market conditions.
Option 1: Sell First, Then Buy
-
Pro: You’ll know exactly how much equity you have
-
Pro: No risk of carrying two mortgages
-
Con: You may need temporary housing while you find your next home
Option 2: Buy First, Then Sell
-
Pro: No need to move twice or rush into a new home
-
Pro: More flexibility in finding the perfect fit
-
Con: May require financing approval for both homes at once
-
Con: Financial stress if your home doesn’t sell quickly
Option 3: Close Both on the Same Day
-
Pro: One move, minimal transition time
-
Con: Requires expert coordination and isn’t always guaranteed
-
Con: If either transaction delays, both could be affected
The key to choosing your path? Talk to your lender and REALTOR® early. We help clients evaluate both their personal comfort level and financial feasibility before making any moves.
Financing Tools That Make It Work
If your equity is tied up in your current home, it might feel like you’re stuck until it sells—but there are ways to unlock that value ahead of time.
Bridge Loans
Short-term loans designed to help you “bridge” the gap between buying your new home and selling your current one.
-
Ideal if you need funds quickly
-
Typically higher interest rates
-
Must qualify with both mortgage obligations
Bankrate – How a Bridge Loan Works
Home Equity Line of Credit (HELOC)
Lets you borrow against your home’s equity while you still own it.
-
Often lower interest than bridge loans
-
Must be set up before listing your home
-
Gives you flexibility in making an offer on your next home
Contingency Offers
Allows you to make an offer on a new home that’s contingent on selling your current one.
-
More common in buyer-friendly markets
-
May weaken your offer in competitive situations
-
Needs to be structured clearly to protect both sides
Investopedia – Real Estate Contingencies Explained
Rent-Back Agreements
Sell your current home but negotiate to stay for a set period after closing.
-
Buys you time to close on your next home
-
Requires agreement from the buyer of your home
-
Rent is typically market rate and based on days stayed
These options aren’t one-size-fits-all—but the right one can ease financial strain and make your move less stressful. A trusted lender can help you assess which strategy fits your budget and goals.
When There’s a Gap: Temporary Housing Solutions
Sometimes, the timing just doesn’t line up perfectly. If your home sells fast but you’re still searching for the next one, you might need a temporary plan.
Here are a few creative gap housing solutions:
-
Short-term rentals or Airbnb: Flexible and furnished
-
Stay with family or friends: Cost-effective but can test everyone’s patience
-
Corporate or extended-stay housing: Good for 30–90 day stays
-
Storage units and moving pods: Makes a second move more manageable
Yes, moving twice can be inconvenient—but it’s often better than rushing into a purchase you’ll regret later.
Tips to Keep Your Sanity Through the Process
Balancing two transactions doesn’t have to feel like a circus. Here are a few tips to keep things on track:
-
Schedule a strategy session to map out ideal vs. backup timelines
-
Declutter and prep your home for listing early—you’ll thank yourself later
-
Don’t seriously shop for your next home until your current one is under contract (unless you’re buying first with financing)
-
Ask your REALTOR® about how showings, closings, and offers will be coordinated
-
Keep everything organized: lender contacts, important docs, moving checklists
Staying proactive rather than reactive is the name of the game.
How Lockstep Realty Helps You Make the Move
At Lockstep Realty, we know how stressful this can be. That’s why we treat dual transactions as a custom process—no cookie-cutter timelines here.
When you work with us, you get:
-
A strategy built around your equity, goals, and timeline
-
Full collaboration between listing and buyer agents on our team
-
Real-time access to lender partners who can break down financing options like bridge loans or HELOCs
-
Help with short-term rental contacts and storage solutions if needed
-
Negotiation power when timing, occupancy, and contingencies get tricky
We’re with you from day one to moving day, helping you make the right moves—not just the fast ones.
Frequently Asked Questions
Should I sell my house before buying a new one?
It depends on your financing and risk tolerance. Selling first gives you cash in hand, but you’ll need a backup plan for housing.
What if I sell my home but can’t find a new one in time?
Short-term rentals, rent-back agreements, or temporary housing can fill the gap. We help you explore all options upfront.
Can I use my current home’s equity before selling?
Yes—through a HELOC or bridge loan, depending on your lender’s terms and your credit profile.
Is it possible to close both homes on the same day?
Yes, but it requires careful coordination. We’ve done it successfully many times, but always prepare for minor timing shifts.
Can I use one real estate team for both transactions?
Absolutely. Using the same team for selling and buying improves communication, reduces stress, and often saves time.
