Oakville and Milton Real Estate Board President has written a great article about the merits of selling your current home before purchasing your next. Sometimes deciding what to do first can be challenging.
There are many reasons why selling your home first is a good idea, the sale amount lets you determine the type of budget you are working with as well as it may help pre-qualify you for the loan on your next home purchase.
The most important benefit in my opinion is, when you current home is already sold, you are free to find a new perfect home and place an unconditional offer on it. Offers without 'conditional upon the sale of your home' clauses tend to be considered more seriously by Sellers, because they know that if they reject your offer you may go elsewhere.
To read Peter Tulloch's President of the OMDREB in depth article about this topic, that directly pertains to the Oakville market click the following link;
Thu, May 22, 2008
Canadian Real Estate, Oakville Real Estate