Blog > Should I buy or sell first in Markham?
Should I buy or sell first in Markham?
In today’s Markham market, selling first is usually the safer choice. With about 9 months of inventory in September 2026 and homes taking an average of 32 days to sell, it can take longer than expected to sell, while there are plenty of homes to buy. Selling first tells you exactly how much money you have to spend. Buying first can work if you can afford to carry two homes, or if your lender approves bridge financing, which usually requires a firm sale and typically lasts up to 90 days. The right order depends on your equity, your timeline and how unique the home you want is. The goal is to avoid owning two homes with no plan.
Why the Order Matters More in 2026
When homes sell in a weekend, buying first feels safe. In a slower market, the risk shifts. In September 2026, Wahi reported 152 Markham sales against 1,417 active listings, about 9 months of inventory, and homes taking 32 days on average to sell. For the full market picture, see whether Markham is a buyer’s market right now.
That means a move-up family is usually in a stronger position as a buyer than as a seller. The hard part is the sale, so it makes sense to solve it first.
Michael John Lau, a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region, starts every move-up plan by mapping both closing dates and the worst-case gap between them, so families know their numbers before they sign anything.
Buy First or Sell First: Side by Side
| Sell first | Buy first | |
|---|---|---|
| Budget certainty | You know your exact sale price | You are guessing what your home will sell for |
| Main risk | Needing a short-term place to live | Carrying two homes if yours sells slowly or for less |
| Negotiating power | Strong: you can make a firm offer | Strong on the purchase, weaker on your sale if you are under pressure |
| Best fit | Most move-up families in a buyer’s market | Owners with large equity, or a rare home they cannot miss |
Planning a move-up in Markham? Call Michael John Lau, REALTOR®, at (416) 700-0286 to map out your sale, your purchase and the dates in between.
How Selling First Can Work Smoothly
The common worry with selling first is “Where will we live?” There are several ways to manage it:
- Ask for a longer closing. A closing 90 to 120 days out gives you time to buy. In a buyer’s market, many buyers are flexible on dates.
- Negotiate a rent-back. Some buyers will let sellers stay for a short time after closing. Your lawyer should put the terms in writing.
- Plan a short-term rental. Furnished rentals or family can cover a gap of a few weeks.
- Start shopping early. Begin viewing homes while your home is listed, so you are ready to buy once your sale is firm.
Before you list, make sure your home is priced from recent sales. A home that sits will push your whole plan back. Why Markham homes are selling below asking explains how pricing affects time on market.
How Buying First Can Work
Bridge financing
A bridge loan lets you use the equity in your current home to close on the new one before your sale closes. TD, for example, asks for both the purchase agreement and a firm sale agreement for your current home, and describes a typical maximum of 90 days. Bridge loans usually carry interest similar to open-rate mortgages, which is often higher than a regular mortgage rate. The key point: bridge financing helps when your sale is already firm. It does not cover a home that has not sold.
A condition on the sale of your home
You can make your offer conditional on selling your current home. Sellers usually accept this only with an escape clause, which lets them keep marketing and gives you a short notice period, often 24 to 72 hours, to remove the condition if another offer arrives. In a slower market, more sellers are willing to consider this, but it still weakens your offer.
Carrying two homes
If neither option fits, you need enough income or savings to pay two mortgages, two sets of property taxes, utilities and insurance until your home sells. Ask your lender to confirm you qualify for both before you firm up.
Costs to Plan For Either Way
- Land transfer tax on the purchase, due on closing.
- Mortgage penalties if you break your current mortgage early. Ask your lender whether you can port it to the new home instead.
- Legal fees for two transactions.
- Moving and storage, especially if you need to move twice.
- Selling costs, including REALTOR® commission, which is fully negotiable. See what it costs to sell a house in Markham for the full list.
A Simple Decision Guide
- Get a realistic sale price from recent sales of homes like yours.
- Talk to your lender about how much you can borrow, bridge financing and porting your mortgage.
- Decide your must-have date. Michael John Lau starts every sale with the date that matters, such as a school year or job start.
- Choose the order that keeps the worst case manageable for your family.
- Line up both closings with your lawyer so funds move smoothly.
Ultimately, the decision is yours. The goal is to make sure you have all the information.
Next Steps
- Request a free home evaluation: know your sale price before you shop.
- Buying your next Markham home: how Michael helps buyers negotiate dates and terms.
- Use the mortgage calculator: test payments on your next home.
Frequently Asked Questions
Should I buy or sell first in Markham right now?
In most cases, selling first is safer in today’s Markham market. With about 9 months of inventory in September 2026, selling can take longer than buying, and selling first confirms your budget.
What is bridge financing?
Bridge financing is a short-term loan that lets you use the equity in your current home to close on a new one before your sale closes. Lenders such as TD usually require a firm sale agreement, and a typical maximum is 90 days.
Can I get bridge financing if my house has not sold?
Usually not. Most lenders require a firm agreement of purchase and sale on your current home before approving a bridge loan. Speak to your lender about your options.
What if I sell my home before I find a new one?
You can ask for a longer closing, negotiate a short rent-back with the buyer, or plan a short-term rental. Starting your search while your home is listed also helps.
Will a seller accept an offer conditional on the sale of my home?
Some will, especially in a slower market, but usually only with an escape clause. That lets the seller keep marketing and gives you a short notice period to remove the condition if another offer arrives.
What costs should I budget for when buying and selling at the same time?
Budget for land transfer tax, legal fees for both transactions, any mortgage penalty, moving costs and selling costs. If you buy first, add the cost of carrying two homes.
Work With Michael John Lau in Markham
Michael John Lau helps Markham move-up families plan the sale and the purchase together, so the timing works and the budget is clear. That includes pricing the current home from recent sales, negotiating closing dates on both sides, and working with your lender and lawyer so funds move smoothly. The goal is a move that feels planned, not rushed.
📞 Contact Michael John Lau, REALTOR®
🌐 www.callmikelau.com
Moving up in Markham?
Michael John Lau maps out both sides of your move, from your sale price to your closing dates, so you can choose the right order with confidence.
Michael John Lau, REALTOR® · Markham, Ontario · (416) 700-0286
Disclaimer. Michael John Lau is a licensed REALTOR® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Market figures are from Wahi’s Markham report of 26 September 2026. Bridge financing details are from TD’s published bridge financing information as of October 2026; terms vary by lender. Rate information is from the Bank of Canada announcement of 2 September 2026. This article is general information, not financial or legal advice. Speak to your lender about financing and a real estate lawyer about any conditions or closing arrangements.