If you're planning to move from one home to another in Connecticut, you've probably already run into the biggest question:Do I buy first or sell first?
It's one of the most common dilemmas homeowners face, and honestly, there's no one-size-fits-all answer. The right strategy depends on your financial situation, the current market conditions, and how much flexibility you need during the transition.
The good news? You have options. And with the right plan (and the right team), you can coordinate the timing so you're not stuck scrambling to find temporary housing or carrying two mortgages longer than necessary.
Let's walk through the three main strategies and what makes the most sense for your situation.
This is often the safest route, especially if you need the equity from your current home to fund your next purchase. When you sell first, you know exactly how much money you're walking away with, which makes budgeting for your next home a lot easier.
Here's why sellers love this approach:
You're in a stronger negotiating position when you make an offer on a new home. Sellers are more likely to take you seriously if your current home is already on the market or under contract, because they know you're a motivated, qualified buyer.
You avoid the stress (and expense) of carrying two mortgages at once. According to the National Association of Realtors (NAR), nearly 40% of homebuyers selling a previous home cite avoiding dual mortgage payments as a top priority.
But there's a catch:What if you sell your home and can't find another one right away?
That's where a few protective strategies come in handy. You can add a disclosure to your listing that states the sale is "subject to seller finding suitable housing." You can also negotiate a longer closing period, ideally 90 days or more, to give yourself extra time to search for your next home.
And if you close on the sale before you find your new place? Consider arent-back agreement. This allows you to stay in your home after closing while paying rent to the new owners. It's a short-term solution that buys you a little breathing room without the hassle of moving twice.
If you have the financial cushion to do it, buying first is actually becoming more common in Connecticut's current market. It lets you secure your dream home without the pressure of coordinating closings down to the minute.
Why this works for some buyers:
You can take your time finding the right home. No rushing into a decision just because your closing date is looming.
You can prep your current home for sale after you've moved out. Empty homes often show better and sell faster, which could mean more money in your pocket.
You won't be stuck in a temporary rental or living with family while you house hunt.
The tradeoff?You might be carrying two mortgages for a few weeks or months until your current home sells. According to recent data fromRealtor.com, the median time on market for Connecticut homes varies by area, so depending on where you're selling, this could be a short gap or a longer one.
This strategy works best if you have strong cash reserves, a low debt-to-income ratio, and confidence that your current home will sell relatively quickly.
Ahome sale contingencyis when you make an offer on a new home that's dependent on selling your current one. Essentially, it protects you from being stuck with two homes if your sale falls through.
Sounds great, right? The problem is, in a competitive market, sellers often reject contingent offers. They'd rather go with a buyer who can close without strings attached.
That said, if the market's slower or the seller is motivated, a contingency can work. You'll just need to be strategic about it. Work with an experienced agent who knows how to structure the offer in a way that's still attractive to the seller, maybe by offering a higher price, a flexible closing date, or fewer repair requests.
Here's a strategy that's becoming more popular with my clients who want to avoid the timing stress altogether:selling your current home for cash through a service like HomeOffersEZ.
Here's how it works. Instead of listing your home the traditional way and waiting for the right buyer, you get a cash offer upfront. You can choose your closing date, which means you're in control of the timeline. And because you're not waiting on financing or inspections to fall through, you can move forward with confidence.
Why this makes such a difference:
When you go to make an offer on your new Connecticut home, you're anon-contingent buyer. That makes your offer way more attractive to sellers. In a competitive market, that can be the difference between getting the house and losing out to someone else.
You're not juggling two closings or hoping everything lines up perfectly. You move onyourtimeline, which is a huge relief if you've got kids in school, a job transition, or just don't want the chaos of a traditional sale.
You skip the showings, staging, and open houses. If your current home needs work or you just don't have the energy to prep it for the market, this option takes a lot of pressure off your plate.
It's not the right fit for everyone, especially if you're trying to squeeze every last dollar out of your sale. But if peace of mind and timing flexibility are your top priorities? It's worth exploring.
No matter which strategy you choose, timing is everything. Here are a few ways to make the coordination smoother:
Work backwards from your ideal move date.If you know when you want to be in your new home, you can structure your offers and closings accordingly.
Negotiate extended closing periods.The more time you have between contracts and closings, the easier it is to line things up. A 60- to 90-day closing gives you a lot more breathing room than 30 days.
Consider a bridge loan.If you need cash for a down payment before your current home sells, a bridge loan can provide temporary financing. Just keep in mind that these loans come with higher interest rates and fees, so they're best used as a short-term solution.
Coordinate back-to-back closings.If the stars align, you can close on the sale of your current home and the purchase of your new one on the same day (or within a day or two). This requires serious coordination between your agent, attorney, and lender, but when it works, it's seamless.
You don't have to figure this out alone. In fact, you really shouldn't try to.
A good real estate agent who knows the Connecticut market inside and out can help you navigate these decisions, negotiate flexible terms, and keep all the moving parts on track. And a real estate attorney, which is required in Connecticut, will make sure all your contracts are airtight and your interests are protected.
Your lender is also a key player. They'll help you understand what you qualify for, how much equity you can tap into, and whether strategies like a bridge loan or home equity line of credit (HELOC) make sense for your situation.
When you've got the right team in place, the process feels a lot less overwhelming.
Can I make an offer on a new home before my current home is sold?
Yes, absolutely. You can make an offer contingent on selling your current home, though it may be less competitive. Alternatively, if you have the financial means, you can buy first and sell later: or explore a cash sale option like HomeOffersEZ to strengthen your buying power.
What is a rent-back agreement?
A rent-back agreement allows you to sell your home and close on the sale, but remain living in the property as a tenant for a set period of time while you search for or close on your new home. You pay rent to the new owners during this time.
How long does it typically take to sell a home in Connecticut?
According toRealtor.com, the median time on market varies across Connecticut depending on location, price, and condition. In some areas, homes sell in under 30 days, while others may take 60–90 days or more.
What's the difference between a bridge loan and a home equity line of credit (HELOC)?
A bridge loan is a short-term loan that helps you cover the down payment on a new home before your current one sells. A HELOC is a revolving credit line based on the equity in your current home. Both can help with timing gaps, but they have different terms, rates, and risks.
Is it risky to carry two mortgages at once?
It can be, especially if your current home doesn't sell as quickly as expected. That's why it's important to have a solid financial cushion and a realistic timeline. Work with your lender to make sure you can comfortably afford both payments if needed.
Buying a Connecticut home while selling another one doesn't have to be stressful. Whether you sell first, buy first, or use a creative solution like a cash sale, the key is having a clear strategy and the right support.
Trying to time your move perfectly?Call me at 860-985-4363 or visit melindatherealtor.com for a free consultation. Never too busy for you!
Let's talk through your options and figure out what makes the most sense for your timeline, your budget, and your goals. You don't have to do this alone: and you definitely don't have to wing it.
National Association of Realtors – Home Buyers and Sellers Generational Trends Report
https://www.nar.realtor/research-and-statistics/research-reports/home-buyers-and-sellers-generational-trends
Data on how many buyers must sell a home before purchasing another and strategies they use.
Realtor.com – Connecticut Housing Market Trends
https://www.realtor.com/realestateandhomes-search/Connecticut/overview
Up-to-date CT market data including median days on market and local timing considerations.
Investopedia – Bridge Loans Explained
https://www.investopedia.com/terms/b/bridgeloan.asp
Clear explanation of bridge loans and how they help buyers purchase before selling.
Zillow – Guide to Rent-Back Agreements for Sellers
https://www.zillow.com/learn/seller-rent-back-agreements/
Details on post-closing occupancy agreements that help sellers coordinate timing.
Connecticut Judicial Branch – Real Estate Closing Process in CT
https://www.jud.ct.gov/lawlib/law/realestate.htm
Connecticut-specific guidance on contracts, contingencies, and attorney-led closings.
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