September 11, 2020
City Real Estate Brokerage
Do you catch yourself constantly browsing realtor.ca, but are still on the fence about actually putting your house on the market? These are 5 reasons why it really is time to part ways with your home.
1. Your life has changed since you bought your home
No matter how much you love your home or how much time you have spent in it, there may come a time where it doesn’t really fit you anymore.
Did you purchase your first home when you were single and now you are married with kids? Or maybe it is the opposite. You raised your family and now the kids have moved away and the house just feels big and empty. Perhaps you’ve had a career shift and are now working from home and would like a great home office.
One thing you can be sure of is that your life will change with time, and with it you may need to adjust your living situation
2. You want to take advantage of a seller’s market
The market in southern Ontario right now is hot and you may want to take advantage of that. There’s a good change you saw your neighbour’s house go on the market and within a week it was sold with multiple offers for over the asking price.
A few things you will want to consider when comparing your house to theirs is: square footage, number of bedrooms and bathrooms, lot size and any recent upgrades.
3. You have positive equity in your current home
The equity in your house is the difference between what you owe on it and what your home is worth. Say you bought your home for $200,000 and over time you’ve made your payments and now you only have $125,000 left to pay off. Now you have $75,000 in positive equity! That total combined with the sale of your home should be able to cover a good size downpayment and the closing costs on your new property.
We have seen a huge increase in sale prices, which means that the property you bought 10 years ago is worth significantly more today.
4. You are financially AND emotionally ready to make a move
Not only have you got positive equity, but you have a good size savings account. The costs can add up quickly. You may need to make some minor adjustments at your current house (paint touch-ups, cleaning your carpets, renting a storage unit to remove clutter, etc). There’s also a chance that your new home could be in need of a new roof, have old appliances, or need the furnace serviced.
There’s also the question of are you emotionally ready to leave your home? It’s a tough thing to sell your house. You need to remove the sentimental items in order for purchasers to envision themselves living there. Give yourself time! You need to feel good about your decision to move and ready for this next chapter in your life
5. The time is just right
Timing really is everything. If you cannot stop thinking about that perfect condo building that was just put up, or that great family home with the large porch and swing set, then list your house favourite City Brokerage agent. We promise to help you through the process