How to Buy Before You Sell in Kelowna

In an ideal world, the sale of your old home would line up perfectly with the purchase of your new one. But in reality, real estate transactions don’t always go that smoothly—especially here in Kelowna and the Central Okanagan. You might find your dream home before your current one sells… or sell your home and realize you don’t have a clear landing spot yet.

So, can you buy a new home before selling your current one?

The short answer is yes—but it requires a smart strategy around contract terms, financing, and timing. Let’s explore your options.

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1. Sale conditions and longer completion or possession dates

One approach is writing an offer that’s subject to the sale of your current home. This is often done using clauses like a “sale of buyer’s property” or “confirmation of sale of buyer’s property” condition. That way, your purchase doesn’t become firm until your own sale is firm—helping protect you from being stuck carrying two homes at once.

The tradeoff is that in a competitive situation, sellers often prefer offers with fewer conditions. Even if the home is perfect, a seller may lean toward an offer that’s cleaner and more certain.

Another option is negotiating more time—specifically, a longer completion date and/or possession date. This can give you the runway you need to get your home staged, listed, and sold while still securing the home you want. The right structure depends on the property, the seller’s flexibility, and what the market is doing that week—so having your agent plan the timing is key.

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2. Bridge financing and “rent-back” style solutions

If you need flexibility and you want to make a stronger offer, bridge financing is a common option.

Bridge financing is short-term funding that covers the gap between the closing date of your purchase and the closing date of your sale. It can help you buy first without waiting for sale proceeds—but it typically works best when your existing home is already sold firm with a firm completion date. In other words, it’s usually not something you use when your home might sell—it’s something you use when your home has sold and the dates just don’t line up perfectly.

Another strategy is a rent-back style arrangement. This can reduce the stress of moving twice and give you extra time to finalize your next purchase or move-in plan. The important part here is making sure it’s documented properly so everyone understands timelines, costs, insurance, and responsibilities.

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3. Other ways to make the move work

If those options don’t fit, there are still a few practical alternatives—depending on your goals and comfort level.

• Mortgage porting: If you have a great mortgage rate or favorable terms, ask your lender or mortgage broker whether you can “port” your mortgage to the new home. This can sometimes reduce penalties or help your numbers work better.
  
• Rent out your current home: In some cases, keeping your current home as a rental can solve the timing issue and create longer-term wealth. This depends on your financing, your risk tolerance, and whether the rental numbers actually make sense.
  
• Sell first, then buy with a plan: This is still one of the cleanest options in many situations—especially if you can arrange temporary housing or negotiate possession timing to avoid pressure-buying your next home.

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While buying before selling can be convenient, it isn’t always the best financial move. Carrying two properties—even for a short time—can create pressure, and relying on a fast sale can backfire if the market shifts or your home takes longer to sell than expected.

That’s why working with an experienced local agent matters. The goal isn’t just to “make it work.” The goal is to make it work without regrets, and with a timeline and financing plan that matches your real life.

If you’re considering buying a new home before selling your current one, let’s talk. I’ll walk you through your options and help you choose the best approach based on your goals, your timeline, and what’s happening in the Kelowna market right now. Schedule a call today, and let’s create a strategy that works for you!