Advantages: Know your exact budget, pass mortgage stress test more easily, no double mortgage pressure, negotiate your purchase from a position of strength with no sale condition needed.

Disadvantage: May need to rent temporarily if you can’t time your next purchase well. Two moves instead of one.

Why it works in 2026: With 5.8 months of condo inventory and elevated supply in the detached market, good properties stay available for 3–4 weeks. You have time.

Advantages: Lock in your next home before it sells; one move instead of two.

Risk: Must qualify for both mortgages simultaneously (DTI including both payments). If your current home sells below expectation or doesn’t sell quickly, financial stress is severe.

Best for: Strong financial position, rare/specific property type you can’t afford to miss, or when your current home already has interested buyers.

Bridge loans cover the funding gap when your new home closes before your old one. Typically 90 days max, at 9–11% APR — total cost $13,000–$27,000 for 6–12 months. Requires a firm (unconditional) sale agreement on your current home. Your lender must approve the bridge at the same time as your new mortgage.

The ideal scenario: your old home closes the day before (or same day as) your new purchase. Sale proceeds flow directly into your new purchase — no bridge loan needed. Requires close coordination between agents and lawyers on both transactions. Tell your agent upfront that you’re a simultaneous buyer-seller so the closing date can be negotiated with this in mind.

💡 Arthur’s 2026 Recommendation

Move-Up Decision Framework ↓