There are pros and cons to selling your current property before buying a new one. One benefit of selling your current property first is that you will have the cash from the sale to use as a down payment on your new home. This can be especially helpful if you have a lot of equity in your current property and are looking to buy a more expensive home.
However, selling your current property first can also be risky because it means you will need to find a new place to live before you have a new home to move into. This can be challenging, especially if you are in a competitive housing market or if it takes longer than expected to sell your current property.
One alternative to selling your current property before buying a new one is to look into the possibility of renting out your current property while you search for a new home. This can provide you with additional income and give you more flexibility in the home buying process.
Ultimately, the decision of whether to sell your current property before buying a new one will depend on your individual circumstances, including your financial situation and your housing needs. It may be helpful to speak with a financial advisor or real estate professional to help you weigh the pros and cons and make the best decision for your situation.