Should I buy my next Rochester-area home before selling my current one?

Start with the dependency between the two moves

Ask whether you need sale proceeds for the next down payment and whether you can qualify and budget while owning both homes. Those are separate questions. A lender's approval does not decide how much overlap feels comfortable for your household. Make the dependency explicit before signing an offer or promising a move-out date.

Compare three workable sequences

One option is to sell first and arrange temporary housing. Another is to buy first if financing and reserves support the overlap. A third is to negotiate connected timing or a sale contingency where available. Each introduces different tradeoffs. Ask your agent and attorney which terms may fit the actual transactions rather than assuming both parties will accept your preferred schedule.

Make a timeline with fallback steps

Record expected contract milestones, lender needs, possession arrangements, moving dates and who confirms that proceeds are available. Plan for a delay on either side. If a temporary occupancy arrangement is proposed, have your attorney document responsibilities and ask the insurer about coverage. Avoid booking an inflexible move based only on a hoped-for closing date.

Two more questions to ask

Are same-day closings guaranteed? No; funding and timing need confirmation and a backup plan. Can I stop paying the old mortgage once the home is listed? Listing it does not end the loan obligation. Request a dated payoff through the closing team and follow your servicer's payment instructions. Ellison Realty can help organize the two timelines alongside your legal and lending advisors.

Further reading

• CFPB: Prepare for the final closing steps
• Community question that inspired this article (Reddit; individual experiences, not market data)