Should I Sell My Pasadena Home Before Buying a New One?
Should I sell my Pasadena home before buying a new one?
Answer:
Whether you should sell your Pasadena home before buying a new one depends on your financial situation, market conditions, and comfort level with timing. May Kunka shares the pros and cons to help you make an informed decision.
Why This Decision Matters
Selling before buying can reduce financial risk, while buying first ensures you have a home lined up. In Pasadena’s competitive market, the right choice depends on your goals and flexibility.
Option 1: Sell First
Pros:
You know exactly how much you can spend on your next home.
Avoids juggling two mortgages at once.
Reduces pressure to accept a low offer.
Cons:
You may need temporary housing.
Risk of rising home prices while you search.
Option 2: Buy First
Pros:
You move directly into your new home.
Avoids interim rentals or storage costs.
Easier if you find a rare, perfect-fit property.
Cons:
Requires qualifying for two mortgages or bridge financing.
Risk of your current home taking longer to sell.
Bridge Loans and Contingencies
Bridge loans can help you purchase before selling, while home-sale contingencies in offers protect you if your home doesn’t sell in time. May Kunka guides clients through these options to reduce stress.
Pasadena Market Considerations
In a seller’s market, you may have the leverage to buy first with confidence. In a slower market, selling first can help you avoid carrying two properties. Pasadena’s market often favors sellers, but trends can shift quickly.
How May Kunka Helps You Decide
May Kunka analyzes your finances, home value, and current market conditions to create a strategy that works for your lifestyle and risk tolerance.
Final Thoughts: Align Your Plan with Your Priorities
There’s no one-size-fits-all answer. With the right planning, either path can work. The key is aligning your decision with your financial comfort and housing needs.
Ready to Create a Buy-Sell Strategy?
Contact May Kunka for a personalized consultation to determine the best timing and approach for your Pasadena move.