Sell First or Buy First in 2025? What Every Minnesota Homeowner Needs to Know

If you're thinking about making a move in 2025 — selling your current home and buying another — one big question is probably keeping you up at night:

Should I sell first or buy first?

And you're not alone in wondering that. We’ve helped countless Minnesota homeowners navigate this exact decision, and there’s no one-size-fits-all answer. But with the right strategy (and a bit of local insight), you can move with confidence — without ending up with two mortgages… or nowhere to live.

In this post, we’ll break down what you need to know to choose the best path for your timeline, your budget, and your comfort level — using real Minnesota market data and case studies from our own clients (and even our own personal experience).

🏡 What’s the Real Risk of Buying Before You Sell?

Buying first can sound appealing — especially if you're worried about finding the right home in a competitive market. But it comes with one big catch: you could end up carrying two mortgages at once.

Here’s when buying first can make sense:

• You have strong financial flexibility or equity

• You're buying in a low-inventory area where homes move fast

• You’re not in a rush to sell (or you're OK renting out your old home short-term)

Pro Tip: In Minnesota, we often use home sale contingencies to protect our clients. That means your offer to buy a new home is contingent on selling your current one — which gives you an “out” if things don’t line up perfectly.

We’ve even helped buyers use rent-backs to close on their new home and stay in their old one for a short time afterward. That way, they never feel rushed to move out before they’re ready.

🏠 When It’s Smarter to Sell First

For many homeowners, especially if you're planning to use your equity as a down payment, selling first is the safest financial move.

It gives you:

• A clear budget for your next purchase

• Freedom from double payments

• Less stress during showings, inspections, and negotiations

Of course, it also comes with some uncertainty. Where do you go between homes? What if your dream house hits the market before your current one sells?

Here’s how we help with that:
✅ Short-term housing options (we have a local list!)
✅ Strategic closing date coordination
✅ Access to off-market listings while your home is still on the market

🔁 What Do Most Minnesotans Actually Do?

Believe it or not, the most common solution we see is a combo strategy.

One of our recent clients in Forest Lake sold their home first with a flexible closing date, then used that timeline to secure their next place without rushing. We negotiated a 30-day rent-back, so they had plenty of breathing room to move and settle in — without a gap or overlap.

With the right agent and a smart plan, you don’t have to choose between chaos and compromise.

💬 So… What Should YOU Do?

The best way to decide whether to sell or buy first comes down to your personal goals, your finances, and your tolerance for risk.

Ask yourself:

• Do you need the equity from your current home to buy the next?

• Are you willing to move twice (temporarily)?

• Is there a specific home or neighborhood you’re targeting?

We’ll walk you through all the scenarios, so you can move forward with clarity — not guesswork.

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📅 Ready to Plan Your Move?

Let’s sit down and map out the smartest strategy for your situation. Whether you're upsizing, downsizing, or relocating within Minnesota or Wisconsin, we’re here to help.

👉 Schedule a free 1:1 consultation: https://leonhardtteam.com/consultation

👇 Comment Below:

What scares you more — buying too soon or selling too soon?
Drop your answer below — we’d love to hear your thoughts and might feature it in an upcoming video!

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