Do you sell first and buy second or buy first and sell
In this present “sellers market” with little to choose from, owners are reluctant to sell their homes first without knowing where they are going to live. This should be balanced against the reason(s) for the need to make a move.
Historically it has been proven that financially you are much better off to sell before you buy. This way you will not find yourself at a disadvantage at the negotiating table, feeling pressured to accept an offer that is below-market value because you have to meet a purchase deadline.
If you’ve already sold your home, you can buy your next one with no strings attached and when in competition you will be in a better and stronger position to negotiate.
If you do get a tempting offer on your home but haven’t made significant headway on finding your next home, you can put in a clause in the contract of sale which gives you a reasonable time to find a home to buy. Alternatively put in a long vacant possession clause ( eg 3-4 months) and be willing to rent for a period of time if you have to.
It’s not an easy question to answer and depends very much on your particular set of circumstances.