If you're a homeowner in St. Albert thinking about your next move, you've probably asked yourself this question more than once. Do you sell your current place first and then search for your dream home, or do you jump on a new property when you find it and worry about selling later? There's no universal answer, but understanding your options will help you make the right decision for your situation.

The Greater Edmonton Area market has been active in 2025. According to the REALTORS® Association of Edmonton, properties in the Edmonton region have been moving at a steady pace, with detached homes averaging 27 days on market in May 2025. This competitive environment means timing matters more than ever.

Key Takeaways

• Selling first gives you financial clarity and strong negotiating power with unconditional offers, but you'll need a plan for temporary housing if you haven't found your next home.

• Buying first lets you act on the perfect property when it appears, though you risk carrying two mortgages. Bridge financing can help bridge the gap, typically for 90 days to six months.

• Conditional offers split the difference but leave you vulnerable to competing buyers and limit your flexibility during the conditional period.

Your best choice depends on your financial cushion, family situation, and comfort with uncertainty. Work with experienced local professionals who understand the St. Albert market to find the strategy that matches your needs.

Let's walk through the three main approaches you can take.

Selling Your Home First

When you sell your home before you buy, you're entering your home search with clarity and confidence. You know exactly what you have to work with, which removes one of the biggest uncertainties from the equation.

The advantages are straightforward. Once your home has sold, you have a concrete budget. This means you can narrow your search to properties you can actually afford and make strong, unconditional offers. In today's market, that's powerful. Sellers take unconditional offers seriously because they know you're ready to move forward. When buyers make offers conditional on selling their current home, sellers often assume they'll come back with something better once that sale goes through. But if your offer is firm from the start, sellers realize you're likely looking at other properties too. They understand that if they turn you down, you might move on to another house.

Financial clarity is just as important. You're not guessing at what your home will sell for or hoping the market cooperates. You've already completed that transaction, so you can negotiate with confidence and won't find yourself stretched thin trying to cover two properties.

The main consideration is where you'll live if you haven't found your next home by the time your current place closes. Some families move in with relatives temporarily. Others rent month to month or arrange short-term housing. Before you commit to selling first, have an honest conversation with your family about how you'd handle that transition period. For some people, temporary housing is no big deal. For others, the uncertainty and logistics create too much stress.

Buying Your New Home First

Sometimes the perfect property comes along, and you simply can't wait. Maybe it's a neighbourhood you've been watching for years, or perhaps it's a once-in-a-generation deal. When opportunity knocks, you want to be in a position to answer.

Buying a house first works well when you spot something special. It gives you the flexibility to act quickly without worrying about whether your current home has sold yet. You can take your time with the move, stage your current place properly, and avoid the pressure of racing against a closing date.

The challenge lies in the financial juggling act. If your current home doesn't sell as quickly as you hoped, you'll find yourself carrying two mortgages. That's manageable for some people, but for many families, it creates real strain. Before you buy first, get a thorough understanding of what it would mean to carry both properties for several months. What would that do to your monthly budget? Would you be forced to drop your asking price to sell quickly, potentially leaving money on the table?

This is also where bridge financing can come into play. Bridge financing is a short-term loan that uses the equity in your current home to cover the down payment on your new property. According to RBC Royal Bank, bridge loan terms are typically six months but can range from 90 days to 12 months or longer. TD Canada Trust notes that these loans typically allow you to carry mortgages on two properties for a maximum of 90 days.

While bridge financing can be helpful, it does come with costs. Ratehub.ca reports that bridge loan interest rates are usually Prime plus 2% or 3%, and lenders typically charge an administration fee between $200 and $500. You'll also need legal services if the lender registers a lien on your property. Just remember that most traditional lenders require a firm sale agreement on your current property before they'll approve bridge financing.

Making a Conditional Offer

A conditional offer sits somewhere in the middle. You make an offer on a new property, but that offer only becomes firm once your current home sells within a specified timeframe. It sounds like the best of both worlds, but it comes with its own set of tradeoffs.

The reality of conditional offers is that sellers don't love them. They'll often accept your conditional offer but keep their property on the market and stay open to other buyers. If someone else comes along with a firm offer, the seller can accept it and ask you to either remove your condition immediately or step aside. That puts you in a tough spot. You might end up having to increase your offer just to stay in the game, or you could lose the property entirely.

Even if your conditional offer gets accepted, there's no guarantee another buyer won't swoop in before your home sells. You're also locked into that conditional offer for the period specified in your contract. If a better property comes along during that time, you can't pursue it without backing out of your existing agreement.

The conditional offer can work, but it requires understanding that you're entering a compromise. You're not in as strong a position as someone who can make an unconditional offer, and you don't have the freedom to walk away that you'd have if you'd sold first.

What's Right for Your Situation?

The answer depends on your financial flexibility, your family's needs, and how the local market is performing. The Greater Edmonton Area has shown continued activity in 2025, with the REALTORS® Association of Edmonton reporting that while inventory levels have been rising with new listings, homes continue to sell at a steady pace. St. Albert continues to attract families and professionals drawn to excellent schools, parks, and its proximity to Edmonton.

In an active market like this, understanding your position as either a buyer or seller helps you make better decisions. If you're selling first, you're likely to benefit from clarity about your budget and buying power. On the flip side, if you're buying first, you need to be prepared for the financial realities of potentially carrying two properties.

Think about your priorities. Do you value financial certainty above all else? Selling first probably makes sense. Are you willing to accept some risk in exchange for flexibility and the chance to grab your dream home when it appears? Buying first might be the way to go. Looking for a middle ground and comfortable with a bit of uncertainty? A conditional offer could work.

Whatever path you choose, work with professionals who understand the St. Albert and Greater Edmonton market. Talk to a real estate agent who can give you current market insights. Speak with a mortgage specialist about your financing options, including whether bridge financing makes sense for your situation. Have conversations with your family about what you can handle emotionally and financially.

Real estate decisions are rarely simple, but they don't have to be overwhelming. When you understand your options and work with people who have your best interests at heart, you'll find the strategy that fits your life.

Ready to discuss your next move in St. Albert? Contact Bermont Realty to speak with experienced local agents who can help you navigate today's market with confidence.