The Biggest Mistake Homeowners Make When Buying Their Next Home

By Rachel Mooney

Rachel has built a reputation for making the complex process of buying and selling homes not only enjoyable but also financially rewarding. Her deep understanding of the local market, combined with her genuine passion for helping families transition through different stages of life, has allowed her to serve hundreds of clients with exceptional care and professionalism.

Have you ever found the perfect home and thought, “This is it,” only to realize you still have to sell your current house first?

You’re not alone in that. Right now, about 70% of homeowner buyers in our market have a home to sell before they can move forward. It’s one of the most common situations I walk people through, and where most people go wrong is what they do next.

The biggest mistake I see is falling in love with your next home before you understand what your current home will actually sell for. I see it happen all the time. Someone finds the house they want, starts planning their move, and assumes their current home will sell for a certain price. Then the market says something different.

And the truth is, the market does not care what you need to walk away with. You might have a number in your head. Maybe you need a certain amount to pay off debt, set aside money for the kids, or just make the next move work. But at the end of the day, your home will sell for what the current market is willing to pay. I know that sounds harsh, but after 26 years in this business, I can tell you it’s the truth every single time.

That’s why selling should be about where you are in life, not about trying to hit a certain financial number. If your home is too big and you’re living in one or two rooms as an empty nester, it no longer makes sense to carry that home. If your family is growing and you’re cramped in a three-bedroom, it makes sense to upsize. Sell because your life needs something different, not because you’re chasing a dollar amount.

So what actually works? The best strategy is simple. Start by selling your current home first. Get it on the market, get it under contract, and find out exactly what it’s going to sell for. Then use that information to guide your next purchase and figure out what price bracket you should be looking in.

I know a lot of people forgot about this approach, probably because of the Covid years when things moved so fast that sellers were scared of being left without a home. But this is how it’s been done for over two decades, and it still works. And I promise you, in 26 years I have never left a client homeless. That’s not going to change.

Now, if you’re not comfortable selling first, there are other options. You can explore bridge loans or tap into your current home equity. You can negotiate a rent-back after closing. In some cases, you can use a home sale contingency, though that only works in certain conditions and most sellers aren’t willing to take their home off the market while you figure things out. As a matter of fact, I have several clients right now who went the buy-first route using their equity. They’re already under contract on their new homes, closing in the next few weeks, and then we’ll list their current homes after they’ve moved. It’s absolutely doable when you have the right plan.

But here’s the key: no matter which path you choose, you need to start with a plan. Understand what your current home is worth. Understand what it will realistically sell for. Then build your next step from there. Buying and selling at the same time doesn’t have to be overwhelming. You just need the right strategy and the right guidance.

If you’re thinking about making a move in North Metro Atlanta, call or text me at 678-804-4733 or email me at rachel@rachelmooney.com. I’m happy to walk you through your options and help you build a plan that works for your situation.