5 Signs it’s Time to List Your Home For SaleAugust 29, 2020
The coronavirus pandemic may have scared sellers from listing their homes over the last few weeks, but things are starting to turn around. In fact, the real estate market in Toronto is pretty hot right now, and both sellers and buyers are out there active in the housing market across the city and the GTA.
If you’ve had selling on your mind, is now the right time to sell? Are you ready to part with your home in favour of a new one?
Here are some signs that it’s time to plant that For Sale sign on your property.
The Market is Hot
If homes in your community are selling quickly, and the prices they are selling for are very healthy, then the market is a hot one and is ripe for sellers to take advantage of. You’ll be more likely to sell quickly and for more money in a market like this.
As mentioned, the real estate market in Toronto is hot right now. In fact, sales in July were 29.5% higher year-over-year, which is amazing considering the pandemic that we’re currently going through. Given this, now may be a great time to sell.
Mortgage Interest Rates Are Low
When rates are low, buyers will have more incentive to get into the real estate market to take advantage of such low rates. This means they will be on the prowl for a new home, which can drive up demand for housing. That’s always a good thing for sellers.
Right now, rates are extremely low and hovering near historic lows. Based on this fact, now may be a great time to list your home and take advantage of all the interested buyers on the market.
Your Neighbourhood Isn’t Right For You Anymore
When you first bought your home, your neighbourhood may have been one of the appealing aspects about the property. But now, things may have changed for you, and your community might not suit your changing lifestyle anymore. If that’s the case, it may be time for something new.
You Need More (or Less) Space
Whether you have a growing family or you are looking to downsize as your grown children leave the nest, your home’s size may not be right for you anymore. In this case, a move may be right for you so you can find a home that is more appropriate for your lifestyle.
A Home Renovation Might Not Make Sense
If you are looking for more space, you may have considered a remodelling or renovation job to add more usable space to your home, But in many cases, the return may not be as much as the cost of such a major project. In many cases, it might make more sense to put that extra money towards a move.
Need Help Staging Your Home?
If you’re convinced that it’s time to list, you’ll want to consider staging your home to make it more appealing to the masses of buyers out there. If so, Hope Designs is ready to step in. Call and book a design consultation today!