Can I Buy a Home if I Already Own One?

It’s a common question: “Can I buy a new home if I already own one?” The short answer is yes—you can. Many homeowners in Southwest Michigan move from one home to another while still owning their current property. The key is figuring out the right financial strategy and timing.

At the Keefer Fischer Real Estate Team, led by Kerry Keefer Fischer, we help buyers in Kalamazoo, Portage, Mattawan, and Battle Creek navigate this process every day. Here’s what you need to know.

Option 1: Qualify for Two Mortgages

Some homeowners are able to purchase a new home while keeping their current one. If you have strong income and low debt, a lender may approve you to carry two mortgages at once. This can be ideal if you want to secure your dream home before selling your existing property.

Option 2: Use Equity in Your Current Home

If you’ve built up equity, you may be able to access it to fund the purchase of your next home. Tools like a home equity loan, line of credit, or bridge loan can help with a down payment or cover costs until your current home sells.

Option 3: Sell First, Then Buy

Many buyers prefer to sell their current home before buying another. This way, you avoid juggling two mortgages and can use the proceeds from your sale for your next down payment. In markets like Kalamazoo and Portage, where homes often sell quickly, this option can be both practical and stress-free.

How We Help

Coordinating a sale and purchase at the same time can feel overwhelming, but with the right team on your side, it’s manageable. The Keefer Fischer Team has experience helping families smoothly transition from one home to the next, whether you’re upsizing, downsizing, or relocating within Southwest Michigan.

Final Thoughts

Yes, you can buy a home if you already own one—the key is choosing the right path based on your finances and timing. Whether that means buying first, selling first, or doing both at once, we’ll guide you through the process step by step.

📞 Thinking about making a move in Kalamazoo, Portage, Mattawan, or Battle Creek? Contact the Keefer Fischer Real Estate Team, led by Kerry Keefer Fischer, to find the best strategy for your situation.