Calgary homeowner guide
Buying and Selling a Home at the Same Time in Calgary
A good move-up plan connects your current home’s value, the cash you will keep and the date that cash becomes available.
Compare selling first with buying first.
Selling first gives you a firmer view of proceeds once the deal is firm, but you may need temporary accommodation or a wider search window. Buying first gives you a destination, but it may expose you to two properties and a sale price that is still uncertain. Neither sequence fits every household.
Write down your non-negotiables: school timing, accessibility, commute, budget and how long you could comfortably carry an overlap. These constraints often decide the sequence before a forecast does.
Work from usable equity, not the headline sale price.
For planning, subtract the expected lender payout, commission and GST, legal work and other sale costs from a conservative sale-price estimate. Then reserve the purchase closing costs and moving money. What remains is closer to the amount you can put toward the next home.
Run a second scenario with a lower sale price or a longer selling period. If that change breaks the purchase budget, resolve it before making an offer. Compare commission costs and budget closing costs separately.
Get the financing sequence confirmed in writing.
Ask your lender whether you qualify before the current home sells, which sale conditions must be satisfied for any bridge loan, and what happens if dates change. Ask about interest, setup costs and limits. A general mortgage pre-approval is not an answer to every overlap scenario.
Give your lawyer both contracts and dates as soon as they are available. Confirm when cleared funds are needed. Do not assume same-day closings will leave enough time for every transfer.
Choose the home and the dates together.
When comparing offers on your sale, look at conditions, deposits and possession as well as price. A workable possession date can reduce disruption, but it should be weighed against the whole offer.
Before writing a purchase offer, ask Don to compare the likely sale range for your current property with the homes you want to buy. Bring your lender’s budget so the search stays anchored to a number you can use.
Get the numbers for your own home.
Your next move starts with a realistic sale price and a clear view of what you can keep. Ask Don to review your home, nearby competition and selling costs.