$750,000 current home · $465,000 mortgage · $900,000 next home
Compare the two paths
CURRENT HOME VALUE
$750,000
$150K$2M
CURRENT MORTGAGE
$465,000
$0$750K
NEXT HOME PRICE
$900,000
$150K$2M
SELL FIRST
$285K
Gross equity unlocked first
Could equal about 32% of the next-home price.
BUY FIRST
$285K
Equity still in current home
May require another way to fund the move.
Gross equity
Before selling costs or other liens
$285,000
If available after selling
About 32% of next-home price
$285,000
Next-home balance after equity
Simple purchase-price comparison
$615,000
THE TRADEOFF
Selling first could unlock $285,000 before you buy. Buying first could let you move sooner, but that equity may still be tied up in your current home.
This is an educational comparison, not a recommendation to sell or buy first. Gross equity is not the same as net sale proceeds or available borrowing capacity. Selling costs, other liens, financing requirements, qualification, timing and actual property values can materially change either path.
What do you want to figure out next?
YOUR HOME PLAN
Updated ✓
$285,000 of gross equity affects the order of your move