Buying before Selling

Our family's move was unconventional, because we bought our new home before selling our first one. My husband and I bought our first home before we had children. Thirteen years and four kids later, we had outgrown it. Aside from the usual inconvenience of showing a house, there were issues that made this one difficult to sell – including the fact that it needed an expensive foundation repair, and all of the flooring would have to be replaced as a result. So, we made the difficult decision to purchase a new home, move, and complete the work on our first one after we were no longer living there. The two houses were only 7 miles apart, so we weren't working with the same deadlines that most people have during a move. We didn't have to pack everything at once, or vacate the house by a certain date for new owners or tenants. We spent about a week moving smaller loads of our personal belongings, then hired movers to bring the large pieces of furniture to our new house. While it definitely was hard work, it actually turned out to be very convenient. The trade-off, of course, was the financial risk of owning two homes. Our approach is not possible for everyone, but it could make sense for those who are able to afford two payments temporarily, or would consider keeping their first house as a rental property. We are very happy in our new home, and don't regret our decision. Mar