Ready to right-size your home without adding stress to your life? If you’ve outgrown your current space in Frisco, Plano, or McKinney, you’re not alone. Many Collin County homeowners are planning a thoughtful “move up” that protects equity, times the sale and purchase well, and keeps life moving smoothly. In this guide, you’ll learn how to set a clear budget, choose the best financing path, map a Texas-friendly timeline, and avoid common local pitfalls. Let’s dive in.
2026 market snapshot: Frisco, Plano, McKinney
Local prices and timelines have shifted from the pandemic frenzy. City medians vary by data source, but recent snapshots help frame expectations:
- Frisco: Redfin reports a median sale price near $625,000 in January 2026, with many homes taking around 80 days to sell depending on condition and submarket.
- Plano: City medians range roughly from the high $470s to around $500,000 across sources for January 2026, with days on market commonly between 45 and 75 days by neighborhood.
- McKinney: Medians sit near $475,000 to $480,000 in January 2026, and timelines can stretch in some areas, while master-planned pockets trend higher.
Inventory across Dallas–Fort Worth has normalized from ultra-tight levels. Some price bands favor buyers, yet move-in-ready homes in sought-after micro-markets still move quickly. For context on the shift in leverage, see recent D Magazine reporting on inventory and buyer balance in DFW.
Build your budget from equity
How to estimate net proceeds
Start with a clean, line-by-line estimate. Use this simple formula to estimate cash you can apply to your next purchase:
- Market value estimate (CMA or recent comps)
- minus mortgage payoff(s) and any liens
- minus selling costs (commissions, title/closing, concessions, repairs)
- equals estimated net proceeds
Example: If your market value is $600,000, the mortgage payoff is $220,000, and selling costs are about 8% ($48,000), your estimated net would be $332,000. Review this with your agent and title company for accuracy. For a consumer-friendly walkthrough, see this HomeLight overview on selling with a mortgage and net proceeds.
Seller costs after 2024 changes
Commission practices changed after industry settlements in 2024. Buyer-agent compensation is now negotiated outside the MLS, which means seller costs vary and should be confirmed at listing. Many sellers still see total closing costs, excluding mortgage payoff, in the 6 to 10 percent range in practice. For context on the settlement’s impact, review Inman’s coverage of the final court approval. Ask your agent for a detailed net sheet before you list.
Taxes and exemptions to factor
Texas voters approved raising the mandatory school-district homestead exemption. State action increased the exemption to $140,000. Confirm how this change applies to your tax entities and timing. You can review the update via the Lieutenant Governor’s statement on the homestead exemption increase, then confirm filing steps with Collin Central Appraisal District homestead FAQs.
If you are targeting new construction, budget for special assessments. Many fast-growing subdivisions include municipal utility districts and other special districts that raise effective property taxes during early buildout. See local notes on rates and MUDs in this Collin County tax overview.
Capital gains basics
If the home has been your primary residence for at least two of the last five years, you may qualify to exclude up to $250,000 of gain if single, or up to $500,000 if married filing jointly. Talk with your tax advisor to confirm your situation.
Pick your financing path
There is no one-size approach. Match your plan to your equity, cash flow, and risk comfort.
Sell first for simple financing
- Pros: Lower carrying costs, no bridge interest, and cleaner underwriting for your next mortgage because your current loan will be paid off.
- Cons: You may need temporary housing or a short-term leaseback if you cannot line up a same-day close.
A sell-first plan works well for many move-up buyers who want to maximize proceeds and keep financing straightforward.
Use a HELOC or home equity loan
- What it is: A line of credit or second mortgage secured by your current home’s equity. You can draw funds for your down payment, then pay it off when you sell.
- Pros: Flexible access, often lower closing costs than bridge loans, and you pay interest only on what you draw.
- Cons: Rates are often variable, lines can be frozen, and payments can rise. Because it is secured by your home, review all risks and disclosures. The FTC’s HELOC guide offers a clear overview.
Bridge loans and buy-before-you-sell programs
- What they are: Short-term, equity-backed loans that let you buy first and sell after. Terms often run 3 to 12 months with higher rates and fees than standard mortgages. See a local primer in this Texas Lending Partners bridge loan overview.
- Pros: Stronger offers without a home-sale contingency, and less chance of a two-move scenario.
- Cons: Added fees and interest, underwriting complexity, and the need to qualify with more than one obligation for a time.
Some consumer programs also offer “buy-before-you-sell” or cash-offer options. Fees vary by provider and can range several percentage points. Compare certainty and convenience with total cost.
Timeline and key Texas milestones
Your goal is to line up the steps so your sale and purchase feel like one smooth move.
Prep and listing window
Plan 2 to 6 weeks for light repairs, touch-ups, and professional photography. In micro-markets like West Plano and central Frisco, staged and well-presented homes tend to move faster. Your agent can prioritize high-ROI projects and coordinate vendors.
Contract and closing benchmarks
- Earnest money and option fee: Under the standard Texas Resale Contract, buyers typically must deliver earnest money and the option fee within 3 calendar days of the effective date unless both sides agree otherwise. The option period is a negotiated window for inspections. Review the timing details in this TREC guidance on option fees and deadlines.
- Closing timeline: Most financed purchases close in about 30 to 45 days from contract acceptance. Complex loans, appraisals, or title issues can extend this.
Using a leaseback
If you sell first, a short post-closing occupancy agreement, also called a leaseback, can give you time to close on your purchase and move once. Key terms usually include length of stay, daily rent, deposit, and responsibility for utilities and insurance. Your agent can prepare the standard addenda and set clear expectations.
Neighborhood price bands to watch
Within each city, prices vary widely by neighborhood, age, and amenities.
- Frisco: Master-planned and luxury enclaves such as Stonebriar, Starwood, and Miramonte often command prices above the city median. Homes in established subdivisions or smaller lots can trade below the city-wide figure.
- Plano: West Plano, including Legacy-area pockets and Willow Bend, tends to price higher, while more established, mid-tier neighborhoods in central and east Plano sit closer to or under city medians.
- McKinney: Craig Ranch and Stonebridge communities often price above the city median, and new construction presents both premium options and incentives. Older, value neighborhoods can be good targets if you want a larger lot or renovation potential.
Your agent should pull neighborhood-level comps and days-on-market data for the exact streets you are targeting. City-wide medians are only a starting point.
Inspections and Collin County pitfalls
Local conditions matter for both resale and new construction. Build these checks into your plan.
- Foundation and expansive soils: North Texas clay soils expand and contract with moisture shifts, which can stress slabs. Ask for a foundation-focused inspection, and consider a structural engineer if your inspector notes movement. See regional context on soil-aware landscaping in this Dallas County Master Gardeners resource.
- Roof, hail, and drainage: Hail and wind can age roofs early. Ensure gutters, grading, and downspouts move water away from the foundation. Termite and wood-destroying insect reports are standard.
- HOA, MUD, and assessments: Confirm HOA financials, transfer fees, and community rules early. In new subdivisions, verify whether a MUD or other special district applies. For a local tax overview and MUD notes, review this Collin County tax resource.
- Appraisal gaps and offer strategy: In fast micro-markets, buyers sometimes waive or modify appraisal protections to win. Understand the risk that a low appraisal can require extra cash or a price change. Discuss how representation and compensation will be handled in your deal after the 2024 practice changes. For industry context, see Inman’s settlement recap.
- New construction timing: Regional buildout to the north continues to influence pricing and inventory. For example, Dallas Innovates highlights Celina’s large master-planned growth, which can add choices and incentives while raising questions on taxes, amenities, and delivery timelines.
Your 6–12 month move-up plan
Here is a clear, step-by-step path to follow. Your agent can customize the timeline based on your home, target area, and financing.
6–12 months out
- Request a detailed CMA for your current home and target neighborhoods, plus a draft net sheet so you can see estimated proceeds. A practical explainer on inputs is in this HomeLight guide.
- Meet with a lender to compare scenarios. Ask about sell-first vs buy-first, reserve needs, and whether a HELOC or bridge loan is realistic for you. A local primer on bridge lending is available in this Texas Lending Partners overview.
- Confirm homestead status and how the $140,000 school-district exemption applies to you. Review the state update and Collin CAD filing guidance.
2–3 months before listing or active search
- Choose a strategy: list first, buy first with a HELOC or bridge, or coordinate back-to-back closings. Run net and holding-cost scenarios for each.
- Complete pre-list repairs with best ROI. Prioritize roof, HVAC, foundation, paint, landscaping, and light updates that photograph well. Schedule professional photos and staging.
0–60 days under contract
- Track contract deadlines. In Texas, earnest money and option fees are time-sensitive. Use the option period for targeted specialty inspections like a foundation engineer or WDI.
- Confirm payoff statements and title instructions 10 to 14 days before closing. Align movers and utilities, and finalize any leaseback or same-day closing logistics.
After closing
- Keep copies of inspection reports, repair receipts, warranties, and your final closing statement. These help with future insurance, taxes, and resale documentation.
How Pickard Real Estate Group can help
A smooth move-up takes planning and precision. Our team pairs neighborhood-level pricing strategy with a clear process so you can sell and buy with confidence. We provide:
- A custom equity and net-proceeds plan tied to your target neighborhoods.
- Listing prep, professional staging coordination, and portfolio-worthy photography that helps your home stand out.
- Flexible sequencing with options like Compass Bridge Loan Services when appropriate, so you can write stronger offers without a home-sale contingency.
- Skilled negotiation, organized timelines, and white-glove coordination from contract to close.
If you are considering a move-up in Frisco, Plano, or McKinney, we would love to help you build a plan that fits your goals and timeline. Connect with the Pickard Real Estate Group to get your home value and a tailored move-up strategy.
FAQs
How do I estimate my net proceeds when selling in Collin County?
- Start with a CMA for market value, subtract your mortgage payoff and liens, then subtract selling costs to estimate cash to apply to your next home. A step-by-step overview is in this HomeLight guide.
Should I buy first or sell first in Frisco, Plano, or McKinney?
- If you value simplicity and lower carrying costs, sell first. If you want stronger offers and fewer double moves, a HELOC or bridge loan can help you buy first, but expect added fees and underwriting.
What deadlines in Texas should I watch during a move-up purchase?
- Buyers usually must deliver earnest money and the option fee within 3 calendar days of the effective date unless both sides agree otherwise. See TREC’s guidance on option fees and timing.
How did the Texas homestead exemption change affect my budget?
- The mandatory school-district homestead exemption increased to $140,000. Confirm details for your tax entities and filing steps with Collin CAD after reviewing the state update.
What should I know about HELOCs in a buy-before-you-sell plan?
- HELOCs offer flexible access to equity but often come with variable rates and line-freeze risk. Review risks and disclosures in the FTC’s HELOC guide.
Are MUDs and special assessments common in new Collin County neighborhoods?
- Yes, many new subdivisions include MUDs or similar districts that raise effective taxes in early years. Review local rates and notes in this Collin County tax overview.
