Your Etobicoke Home
are a million different reasons why people sell their homes, but every
seller has one thing in common: the desire to get as much money as
possible from their existing residence as quickly and as hassle-free
as possible. If your home is your principal residence, you won't have
to pay capital gains tax on any profits from the sale. If, on the
other hand, it is an investment property, prepare for the tax man!
you begin the selling process, really evaluate why you're moving.
you have too few rooms, or too many?
Has your job moved to another city and you're relocating?
Are the neighbours driving you away?
are you simply looking for a change?
A complete analysis of your current position
will set a good foundation for your next home hunt.
is the Best Time to Sell Your Home?
seems to have specific ideas on when the right time is to sell. Some
base their theories on the overall economy, while others will tell
you that there are key buying months that you'll want to capitalize
If you're not buying and selling strategically or for investment,
the best time to sell is really when you feel your existing home will
not meet your future needs. The best reason to purchase a new home
is to take advantage of your family and lifestyle changes. Do you
wish to be closer to a school? Are you switching jobs? Do you have
an aging parent to care for?
In Canada, weather and holidays do play a factor. Almost no one goes
house hunting around Christmas, and few give up their summer vacations.
Of course, those with school-aged children are less likely to move
during the school year and summer is an ideal time. In some areas,
there is a definite "spring cycle" -- perhaps it's a bit
of spring fever and a wish to break out of the bonds of winter.
Some gamblers look for winter bargains and then try to sell their
homes during the spring cycle. But overall, that could be more tension
and aggravation than you wish. And the monetary results may be disappointing.
Another key factor to consider is the economy. Are interest rates
higher or lower in comparison to your current mortgage? If they are
higher, you may want to stick with your current home, as your new
mortgage payments could be uncomfortable. If rates are lower, you
might be able to trade up to a more expensive home without a significant
increase in your monthly mortgage obligation.
What's more, if it's a buyers' market, you may be in a strong position
to purchase a new home, especially if you have accumulated some equity
in your current property.
There Costs Involved in Selling?
Unfortunately, the answer is yes. Even
if you think your home is perfect, you may have to do some minor repairs
or upgrades to make your home more attractive to potential purchasers.
professional home inspection may be a condition of the offer.
If the inspection points to problems, your purchaser may ask that
you make the necessary repairs or choose not to close the deal.
costs, such as lawyers' fees or unpaid taxes, will also have to
discharge fees may be levied by your lending institution.
commissions must be paid as defined by your listing agreement.
or sell first?
That's tricky. After all, if you find
a purchaser for your existing home, before you've found a new one,
you may find yourself living out of a suitcase if convenient closing
dates can not be negotiated. On the other hand, if you find your dream
home before you've unloaded your old one, you may be faced with carrying
two mortgages for a time.
So how do you manage? Easy. Do your homework
and have a good idea about the neighbourhood and type of home you're
looking for. Do an honest evaluation of your family's needs and budget.
As your RE/MAX agent I can start your new home search
as soon as your existing home hits the market.
If you've found a home, before you've sold your existing one, use
"sale of your existing home" as a condition on your offer.
If you don't sell your house within a fixed period of time, you can
choose not to go through with the offer. This, however, is a difficult
condition for many vendors to agree upon and you may find that you
have to forgo your price negotiating power.
Purchasing a home before you sell could be a
risky strategy if you're counting on the proceeds from the sale.
If you've found a purchaser before you've found your
next home, use "purchase of a new home" as a condition when
you sign back the agreement. Again, it will only be for a fixed time.
Even if you have not found the ideal next house by the time the deal
closes, you may still wish to proceed with the offer. As a buyer with
a "sold house" you will be in a better position to negotiate
now a good time to sell your house?
of selling your home but not sure if now is the “right time?”
might be surprised when you find out how much your home is worth.
I invite you to give me a call or e-mail
me to set up an appointment to discuss your home's value. That
way you'll have the knowledge you need to make the right decisions.
we will determine when to sell your home in the least amount of time
for the best possible price. Here is some of what we will review;
I will help you examine your reasons for wanting to sell. The
most common reasons why people decide to sell their homes include
changes to their financial status, an employment transfer, a growing
family or retirement. Today’s low interest rates have also
made it attractive for many homeowners to “move up” to
a larger home.
your reason, selling a house is a complicated procedure so it’s
imperative to have a qualified real estate professional, like myself
on your side. Because selling a home involves large sums of
money and complicated legal documents, my expertise as a Realtor can
help you avoid costly mistakes.
your home was probably the best investment you ever made. That’s
because over the long term, real estate has proven to be a sound investment
while at the same time offering you and your family shelter and a
feeling of pride of ownership.
real estate is subject to the law of supply and demand which creates
cycles in the market. A shortage of homes generally means prices
rise. This cycle is commonly known as a “seller’s
market.” Alternately, a surplus of homes can result in
a slow down in home sales or even a reduction in prices and is often
referred to as a “buyers market.”
of the most important services I provide is market analysis. Most
people don’t have the time it takes to conduct the comprehensive
market research required to accurately price a home. As your
REALTOR, I can give you up-to-date information on what economic and
other factors are impacting current market conditions.
market is best?
you will want to sell your home quickly and for the highest possible
price. In a “seller’s market,” you often see
many buyers competing for the same house resulting in top prices --
sometimes even over the original list price. However, if you are planning
to purchase another home after the sale, chances are you will be competing
in the same seller’s market faced with higher prices.
a buyer’s market you may find you have to wait longer to sell
your home for a fair price. The upside to selling your home in a buyer’s
market is you’ll have more selection and pricing options when
you go looking for your new property.
the current market cycle should influence your decision to sell, remember
there are trade-offs to selling in either a buyer’s or seller’s
market. Some people are concerned that if they trade up to a larger
home in a buyer’s market they will lose some of their home’s
equity in the sale. But, while you may sell your home at a “discount,”
it’s likely you will purchase your larger home at an even greater
discount. The advantage is you then own a larger asset with even greater
potential for appreciation.
Ontario, changing seasons and the weather can affect buyer demand.
For example, fewer buyers may be out looking at homes during the cold
and snowy winter months, but as a seller you will be competing with
fewer homes on the market. Spring tends to be an attractive time
for real estate sales as gardens start to look nice again and people
come out of hibernation. Buyers with school-aged children like
to purchase in the spring so they can move in over the summer. However,
homes sell throughout the year so think of the season as only one
factor in deciding when to sell your home.
are many important issues that come into play when deciding to sell
your home. As your REALTOR, I can help you to determine if now
is the best time for you.
me to set up a no obligation appointment
the answers to the most commonly asked questions:
do I determine the best price?
When is the best time?
What are the costs?
Before you begin the selling process, really evaluate why you're
moving and let’s talk.
are some Home Seller Articles you may find useful: