Thinking about moving in or out of Port Orchard and not sure whether to buy your next home before selling your current one? You are not alone. Between ferry schedules, bridge commutes to Tacoma or Lakewood, and changing inventory in Kitsap, the timing can feel tricky. In this guide, you will see the trade-offs clearly, learn the key options Washington buyers and sellers use, and walk away with a simple plan you can put into action. Let’s dive in.
Quick answer
The choice comes down to control versus risk.
- Selling first gives you certainty about your proceeds and avoids carrying two mortgages. You may move twice or use a short-term housing solution.
- Buying first helps you secure the right home and avoid a double move. You will need strong financing, a bridge solution, or the ability to handle overlapping payments.
Your best path depends on current Port Orchard and Kitsap market tempo, your cash reserves and equity, and how important it is to lock in a specific home or school-year timeline.
What the local market means
Port Orchard sits on the Kitsap Peninsula with access to Bremerton, the Tacoma Narrows Bridge, and South Sound job centers. Commute patterns, ferry timing, and new construction activity can influence how fast homes list, draw offers, and close. Inventory and days on market shift seasonally, often picking up in spring and summer.
Ask your agent for the latest city-level stats from local MLS sources the week you plan to act. Focus on months of supply, median days on market, and sale-to-list ratios in Port Orchard and Kitsap. Those numbers will help you decide how aggressive you need to be.
When tight inventory favors buying first
If months of supply is low and desirable homes in your target neighborhoods sell quickly, buying first can be practical. You secure the right home, then sell your current place with momentum behind you. Just be ready for overlap costs and have a financing plan in place.
When slower markets favor selling first
If inventory is higher and homes take longer to sell, selling first reduces risk. You know your exact proceeds and can write a cleaner offer on your next purchase. You may need a rent-back or short-term rental to bridge the gap.
Option 1: Sell first
How it works
You prepare and list your home, accept an offer, then negotiate a closing date. Typical timelines run 30 to 45 days from mutual acceptance to closing, depending on buyer financing and appraisal. If you need time after closing, you can request a post-possession or rent-back agreement that lets you stay in the home for a set period and fee.
Pros
- Certainty about proceeds for your next down payment.
- Lower risk of paying two mortgages at once.
- Stronger negotiating position when you buy, since you may not need a sale contingency.
Cons
- Possible double move or short-term housing.
- Risk that your ideal next home is not available right away.
- Rent-back requires careful review of insurance and responsibilities.
Bridge the timing gap
- Negotiate a rent-back agreement to stay after closing for a set time.
- Use a short-term rental or stay with family during the gap.
- Store belongings so you can move quickly when your next home is ready.
Option 2: Buy first
Financing paths
- Cash purchase. Simplest path if available.
- Bridge loan. A short-term loan that uses your current home’s equity or the new purchase as collateral until your home sells. Rates and fees are typically higher than a standard mortgage.
- HELOC or home equity loan. Tap existing equity for your down payment, subject to lender approval.
- Two mortgages. Qualify to carry both payments temporarily until your home sells.
- Sale contingency. You can ask to make your purchase contingent on selling your current home, but this is less competitive in tight markets.
Work with a lender early to understand debt-to-income limits, reserves requirements, and how various loans will underwrite your situation.
Pros
- You can lock in the right home and avoid a double move.
- More control over timing your transition and closing dates.
Cons
- Higher carrying costs if your current home takes longer to sell.
- Possible underwriting hurdles and higher rates or fees on short-term financing.
- Exposure to appraisal gaps or a sale below your expectations.
Manage the risks
- Get fully pre-approved and document reserves.
- Price and prepare your current home to list quickly after you buy.
- Consider appraisal gap coverage only up to an amount you are comfortable funding.
- Confirm proper insurance on both properties for any overlap period.
Contingencies and contract levers
Sale contingency and kick-out
A sale-of-home contingency lets you buy only if your current home closes first. Sellers may add a kick-out clause that allows them to accept another offer unless you remove your contingency within a set period.
Make offers stronger
- Shorten inspection periods if appropriate.
- Present clear pre-approval documentation.
- Offer a slight price premium or larger earnest money to offset contingency risk.
- Use precise language on appraisal, financing, and possession so both sides can plan.
Timelines and checklists
Sell-first checklist
- Four to eight weeks before listing: consult your agent for pricing strategy, complete decluttering and key repairs, and schedule photography and staging.
- One to two weeks on market: launch listing, manage showings, and review offers.
- After acceptance: expect inspection within 7 to 10 days and loan underwriting with appraisal over 21 to 45 days. Negotiate a 30 to 45 day closing.
- After closing: use rent-back if needed or move to short-term housing.
Buy-first checklist
- Four weeks before shopping: secure full pre-approval that reflects your plan to carry two payments, a HELOC, or a bridge loan.
- When you find a home: write clear terms on contingencies and financing. Submit strong documentation.
- After acceptance: coordinate appraisal and underwriting, especially if two lenders are involved. Typical closing is 30 to 45 days.
- After purchase: list your current home promptly with strong presentation and pricing. Prepare for one to six months of overlap costs depending on market speed.
A simple decision framework
Ask yourself these questions to find your path:
- Do you have 6 to 12 months of reserves or approved access to equity to cover two payments if needed?
- Do you have sufficient equity for a HELOC or bridge loan?
- How competitive is local inventory right now in your price point and neighborhood targets?
- How flexible is your timeline regarding a double move or rent-back?
- How comfortable are you carrying two properties, even for a short time?
- Is your current home likely to sell quickly at your target price based on current days on market?
If you answer yes to reserves, equity, and urgency to secure a specific property, buying first may fit. If you prefer less risk, or if inventory is not tight, selling first is often the better move.
Cost, tax, and rules in Washington
- Seller costs often include the listing commission, payoff of any mortgage, and Washington real estate excise tax. Commission and fees vary by transaction.
- Buyer costs can include loan origination, title and escrow fees, mortgage insurance if applicable, and prepaid taxes and insurance.
- Washington real estate excise tax is paid by sellers at closing. Rates are tiered and can change, so confirm current rules before you list.
- Some sellers may qualify for the federal primary residence capital gains exclusion. Speak with a tax professional about your situation.
- If you use a rent-back, specify insurance, utilities, and liability responsibilities in writing.
Local strategies that work
- For sellers assessing contingent offers: review the buyer’s pre-approval strength and contingency length. Better terms or price can offset the risk.
- For buyers writing with a contingency: shorten timelines, show your current home is on the market, and consider an escalation clause if appropriate.
- For both sides: use post-possession agreements to align move-out and move-in. Clarify all terms so insurance and logistics are straightforward.
Your next step
Choosing to buy first or sell first is simpler when you see the numbers and timing laid out side by side. If you are upsizing for a yard, right-sizing for a shorter commute to Tacoma or Lakewood, or eyeing a lifestyle shift near the water, you deserve a plan tailored to Port Orchard and Kitsap realities. For a clear path, schedule a consult with Megan Milliken. You will get local guidance, professional pricing and presentation, and a step-by-step strategy that matches your risk tolerance and timeline.
FAQs
How do I decide whether to buy first or sell first in Port Orchard?
- Compare your cash reserves and equity, current inventory and days on market, your comfort carrying two payments, and how urgent it is to secure a specific home.
Can I make an offer contingent on selling my current home?
- Yes, but sale contingencies are less attractive in competitive markets; you can shorten timelines and show your home is actively listed to help your case.
What is a bridge loan and when is it useful?
- It is a short-term loan that helps you buy before you sell by tapping equity; it can be effective but usually carries higher rates and fees than standard mortgages.
How does a rent-back work for sellers in Washington?
- You can stay after closing for a set time and fee under a written post-possession agreement that defines rent, insurance, utilities, and liability responsibilities.
How long will it take to sell my Port Orchard home?
- It depends on price, condition, and local inventory; ask for current median days on market and plan staging and pricing to shorten time to offer.
Will I have to discount my home if I need a fast sale?
- Speed can reduce leverage; focused prep, accurate pricing, and strong marketing can help you sell faster without unnecessary discounts.
