Windsor-Essex Move Planner
Sell first or buy first?
Most families ask this after they've already found the house. Answer it now, with your own numbers, and move on your terms. It comes down to two things: where your next down payment is sitting, and how long you could comfortably carry two homes.
How the planner decides
It's a cash-flow question, not a market question
Families often pick the order based on how the market feels. The better question is how long you could comfortably carry two homes, and whether the next down payment depends on this sale. The planner checks both.
| Down payment available outside your home? | Could you carry both for as long as a sale might take? | Lean |
|---|---|---|
| Yes | Yes | Buying first is realistic |
| No | Yes | Sell first, then buy while it closes |
| Either | No | Sell first |
How the numbers are calculated
Equity after selling costs = sale price − mortgage − commission − 13% HST on the commission − about $2,200 in legal and discharge fees. Cash to close = down payment + Ontario land transfer tax + about $2,000 in legal fees.
Land transfer tax uses Ontario's provincial rates. There's no municipal land transfer tax in Windsor-Essex.
What bridge financing does, and doesn't do
Bridge financing covers the gap between your purchase closing and your sale closing. Most lenders want a firm, unconditional sale on your current home first, so it doesn't let you buy before you've sold. Rates and fees are higher than a regular mortgage, and terms vary by lender.
What this doesn't include
Mortgage qualification and the stress test, prepayment penalties, mortgage default insurance, moving and storage, and temporary housing if the dates don't line up. A mortgage professional should confirm the financing side before you write an offer.
Also useful: should I sell before buying?, can I buy before I sell?, and the Right-Size Report for downsizers.