Moving to Etobicoke
THE MOVING TO NETWORK | BRAMPTON | ETOBICOKE | GTA | MISSISSAUGA | OAKVILLE | TORONTO

Sponsored by: Allan Todd, REALTOR® Remax Professionals Inc. Brokerage

416-640-0734

905-270-8840

 

 

 

 

 

 

 

 

 

 

416-640-0734

905-270-8840

Receive MLS® Listings of homes that match your specific criteria as soon as they hit the market:

416-640-0734

905-270-8840

Receive MLS® Listings of homes that match your specific criteria as soon as they hit the market:

416-640-0734

905-270-8840

Receive MLS® Listings of homes that match your specific criteria as soon as they hit the market:

416-640-0734

905-270-8840

Receive MLS® Listings of homes that match your specific criteria as soon as they hit the market:

416-640-0734

905-270-8840

Receive MLS® Listings of homes that match your specific criteria as soon as they hit the market:

416-640-0734

905-270-8840

Receive MLS® Listings of homes that match your specific criteria as soon as they hit the market:

 

 

Selling Your Etobicoke Home

There 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!

Before you begin the selling process, really evaluate why you're moving.

Do 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?

Or are you simply looking for a change?

A complete analysis of your current position will set a good foundation for your next home hunt.

When is the Best Time to Sell Your Home?

Everyone 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 on.

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.

Are 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.

  • A 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.
  • Closing costs, such as lawyers' fees or unpaid taxes, will also have to be paid.
  • Mortgage discharge fees may be levied by your lending institution.
  • Sales commissions must be paid as defined by your listing agreement.

Buy 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 price.

Is now a good time to sell your house?

Thinking of selling your home but not sure if now is the “right time?”

You 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.

Together 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;

First 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.

Whatever 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.

Real estate cycles

Buying 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. 

However, 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.”

One 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.

Which market is best?

Obviously, 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.

In 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.

Although 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.

Seasonality

In 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.

There 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.

Contact me to set up a no obligation appointment today!

Get the answers to the most commonly asked questions:

How 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.

 

Here are some Home Seller Articles you may find useful:

Whether you are buying or selling a home, RE/MAX is the name that delivers. We are the most recognized name in Real Estate because we attract the most outstanding agents; seasoned pros who bring their collected and collective wisdom and experience to bear on literally thousands and thousands of deals each year in this country. You can count on the fact that a RE/MAX agent will always go the distance to help you buy smart, or sell smart.

Allan Todd, REALTOR®
Remax Professionals Inc., Brokerage

416-640-0734

905-270-8840

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