Robyn’s take · Practical advice
Start with the cost of overlap
Ask your lender what you can carry if the sale and purchase do not line up. Include two mortgages if relevant, taxes, insurance, utilities and the cost of moving twice. A plan that only works with perfect timing needs another option.
Selling first buys certainty
A completed sale clarifies the equity you have available. The trade-off is finding the next home within your timeline, or arranging temporary accommodation. Decide what you would do if the right home takes longer to find.
Buying first buys choice
You can choose a home without a completed sale pushing the search. The trade-off is financial exposure and the risk that your current home takes longer to sell. Mortgage pre-approval alone does not answer every question about carrying both properties.
Put three scenarios on paper
Plan for the sale happening quickly, taking longer and producing less than you hoped. Then compare completion and possession dates, financing and backup accommodation. Let those numbers guide the sequence rather than the excitement of a listing.
General education for buyers and homeowners in BC. Your contract, financing and property details need their own review with the appropriate professionals.