When you are selling your house, the first thing to look at is the strength of the martket.  The strength of the market will determine whether or not you can sell in a short period of time which frees you up to buy your next home.  If the market is not as strong, you should sell your home before purchasing your next.

The alternative is to buy your next home on the condition of selling your current property.  The disadvantage of this is that most sellers do not want to accept this condition and quite often you end up paying more for the house than you normally would.  The reason for this is that this condition is like an insurance policy.  If you don’t end up selling your house within the condition period, you are able to back out of the purchase agreement without losing your deposit.

My advice right now is to sell your home first, and purchase another home only once yours has sold firm.  We currently are seeing a good balance between the number of buyers and the number of available listings.  The strongest part of the market is currently with the starter to mid-price home.