Should You Buy or Sell First? A Guide for Ottawa Homeowners Making the Move

May 6

If you already own a home and you're thinking about making a move—whether upsizing, downsizing, or relocating—the question of whether to buy or sell first is one of the biggest decisions you’ll face. And while there’s no one-size-fits-all answer, understanding how Ottawa’s real estate market works—and how your situation fits into it—can make your path a lot clearer.

At New Purveyors, we help Ottawa homeowners navigate this decision every day with strategy, confidence, and data-backed advice. Here’s what you need to know.

Understanding the 2025 Ottawa Real Estate Market

As of spring 2025, Ottawa’s market is showing signs of cautious optimism. Inventory has increased slightly year-over-year, but desirable properties—especially in neighbourhoods like Westboro, Old Ottawa South, and the Glebe—are still moving quickly when priced right.

Average Days on Market (DOM) across the city sits around 18–24 days, but that number varies drastically depending on location, property type, and pricing strategy. Well-priced freehold homes can still go in under a week. Condos in the downtown core are taking a bit longer, especially in over-supplied buildings.

If you’re timing a move in 2025, understanding how long your home is likely to take to sell—and how long it may take to find your next one—is key to choosing whether to buy or sell first.

The Case for Selling First

Selling first is often the safer, more predictable route—especially for homeowners who need the equity from their current home to purchase the next one.

Pros:

Know your exact budget. Once your home sells, you’ll know precisely how much you can spend on your next place.
Stronger financial positioning. Lenders often prefer to see that your current mortgage will be discharged before taking on a new one.
Avoid carrying two properties. You won’t risk paying two mortgages, utilities, and property taxes at once.

Cons:

Tight timeline for buying. If your home sells quickly, you may feel pressured to purchase fast—or find temporary housing while you continue your search.
Inventory risk. Your ideal home may not be available during your buying window.

When selling first makes sense:

You’re downsizing or moving to a more affordable area.
You’re relying on equity to fund your next purchase.
You want maximum control over your financials and timeline.

The Case for Buying First

Buying first is all about seizing opportunity—especially when you’ve found the perfect property and don’t want to risk losing it.

Pros:

No pressure shopping. You can take your time looking for a new home that fits your lifestyle and needs.
More negotiating power. Without a sale condition in your offer, sellers may be more likely to accept.
Smoother transition. You can move into your new home before listing your old one, avoiding temporary housing or rushed packing.

Cons:

Financial overlap. You may need to cover two mortgages (and associated costs) temporarily.
Bridge financing complexity. You’ll likely need to secure a bridge loan to fund the down payment before your current home sells.
Market risk. If your current home takes longer to sell than expected, you may face financial strain or need to reduce your asking price.

When buying first makes sense:

You’re moving to a competitive neighbourhood with low inventory.
You have strong financial stability or access to bridge financing.
You’ve found a rare or one-of-a-kind property that won’t last long on the market.

What Is Bridge Financing?

Bridge financing is a short-term loan that helps cover the gap between buying your new home and receiving the proceeds from your current home sale. It’s commonly used in buy-first scenarios, especially when closing dates don’t align.

In Ottawa, bridge loans are typically available through major banks for up to 90 days, and interest rates vary from prime + 2% to 5%, depending on your lender and credit profile. While helpful, bridge loans do come with carrying costs, so it’s important to budget for interest payments and ensure your home is priced to sell within your required window.

How We Help You Make the Right Move

At New Purveyors, we don’t believe in cookie-cutter plans. Whether you buy or sell first, your move deserves a thoughtful, customized strategy that reflects your goals, your neighbourhood, and the realities of the Ottawa market.

Here’s how we guide you:

Market analysis: We use real-time data to forecast how long your current home may take to sell and how fast homes in your target neighbourhood are moving.
Contingency planning: We’ll map out backup options (like extended closings or temporary rentals) so you’re never left scrambling.
Professional marketing: We pay for professional photography, videography, print materials, and social media ads for every listing—no matter what. This ensures your home gets maximum exposure and sells quickly.
Strategic pricing: We don’t just list homes—we position them. From pricing strategies that create bidding scenarios to timed launch windows, we help your sale attract the right buyers.
Final Thoughts
There’s no perfect answer to the “buy or sell first” question—but there is a right answer for you.
Let’s talk about your unique situation, walk through your numbers, and create a move plan that’s built around your lifestyle and your goals. At New Purveyors, we’re more than real estate agents—we’re your partners through every step of the journey.
Ready to talk strategy?
Reach out today to book a no-pressure consultation with one of our experienced Ottawa agents.