This is the safest financial strategy. You list your Madison-area home, accept an offer, close, and use your proceeds to purchase your next home. You know exactly how much equity you have, and your buying offer comes in clean — with no sale contingency.

This is the more aggressive approach. You get fully pre-approved, purchase your next home, and list your current home afterward. No temporary housing, no moving twice, and less emotional pressure when home shopping.

This means your purchase depends on selling your current home. In competitive Madison neighborhoods, sellers often prefer non-contingent offers. However, contingent offers can still work in the right circumstances.

Some homeowners use short-term financing to tap into their existing equity before selling. A bridge loan is a short-term loan secured by your current home's equity, while a HELOC gives you a line of credit against your property.

Either approach allows you to make a stronger offer, remove contingencies, move first, and sell after. Not everyone qualifies — but for the right situation, it can be a powerful tool.

Learn how some Dane County homeowners are using their equity to compete with cash buyers using strategies like these.

Another solution available locally is the Fairway Trade-In Mortgage Program, offered through lenders like Tony Burns at Fairway. This program allows you to buy your new home without making your offer contingent on selling your current home. You can use the equity from your existing property, move first, then sell — and avoid carrying two long-term mortgages.

In competitive parts of Madison and Dane County, removing a home-sale contingency can significantly strengthen your offer.