Some people buy a home with the intention of eventually selling it and turning a profit. This can be a very lucrative idea when the market is right, but if there are more people selling than buying, it can be particularly tricky.
Not everyone wants to hold onto a home for their lifetime. The real estate market can herald a lot of money when the timing is right, and for someone who is comfortable with the process of selling and buying again, this can be a very exciting possibility. It is, however, important to understand how the timing can influence the value of your home.
A good rule of thumb: when in doubt, talk to a Sales Representative. If there are ever any questions on the fluctuating market, your Sales Representative can answer them all. With this in mind, there are a few chief rules to consider when finding the right time to sell your home:
– Is the market good for selling? For example, are there more people looking to buy than sell?
– What is the appraisal of your home? Will you make more selling now than you did when you originally bought it? Remember, you want to MAKE money with this sale, not stay on the same level.
– Will you be buying a new home once your existing one is sold?
– Is there a better time to sell your home? (i.e. will you make more of a profit if you hold onto the property?)
Selling a home can be exhausting, but with the right advice and a good guide of current market values, you can make the selling experience comfortable and stress-free.
But if you’re weighing your options to sell and are considering selling this year or next, so just go ahead and don’t play the waiting game.
Here are some reasons to sell your house in 2020:
- New buyers are still entering the market.
- Interest rates are expected to remain low.
- You have high equity.
- and we don’t know what 2021 holds.
Source:
Homelife.ca
