Steps to install Parallels 11

I am always late to the party, but I am finally going to upgrade grade to Yosemite and Windows 10 from 8.1. I understand I will need Parallels 11 since I have version 8, so I must purchase it new correct? And are these steps the correct order?

1) Upgrade to Yosemite
2) buy Parallels 11
3) Install

a) Can I use the parallels 8 VM?​

4) Upgrade to Windows 10.

The issue with using the VM from 8 is my biggest concern.

Thanks!

 

Hi @Rob5, if you would like to purchase the newest version of Parallels Desktop we would like to inform you that customers who are using Parallels Desktop 2/3/4/5/6/7/8 for Mac are not eligible for upgrade pricing for Parallels Desktop 11 for Mac.
Also Parallels stopped support and maintenance for Parallels Desktop 8 for Mac with the release of Parallels Desktop 11 for Mac.
Also yes, it will be great to upgrade Mac OS, then purchase and install Parallels Desktop11.
Except for that all of your VM's will be saved and you will be able to use it after Parallels Desktop upgrade.
But before the Windows upgrade (from 8 to 10) please make a snapshot (Virtual machine -> take a snapshot) of your Windows 8 to be saved.