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Are you thinking about making a move but not sure when you should list? Check out our insider advice for the answers.

If you’re trading up

Most people think they should sell when the market is at its peak to get the most for their home when in reality, it’s less expensive to trade up in a market when values are down.

Trading up is just that…trading your current situation for a better one that will improve your quality of life, get your kids into a better school district, and impact your future wealth building. This will allow you to live the future you have been envisioning.

If you’re downsizing

The majority of homeowners who are downsizing typically own a home at a higher price point than average priced homes (which
have a bigger market and greater demand), so they tend to be less sensitive to market fluctuations. The sale price can therefore be far more influenced by a specific buyer.

Downsizing is also regarded as a move motivated by significant life changes and lifestyle goals. Assuming there are no major corrections in the market, the timing should be based on your goals and when the time is right for you to move on.

Not quite ready? Consider leveraging your equity and investing in your next property now – rent it out until it’s time to leave… you’ll be selling in future dollars but moving at present day value.

Know what you want and what’s out there
Life changes may be the catalyst but make sure you have clarity on what you want. A great place to start is to view properties and learn what your next move could look like.

Many of our clients want to pull the trigger on a listing when they feel like they have a good comfort level on what their budget will get them and when they feel closer to knowing what they want out of their next home.

Be strategic

While it’s almost impossible to ‘time the market’, it has served our clients well to sell earlier in the year, but we negotiate a long closing for them so they have plenty of time to find their next home when inventory is higher. If they find their home sooner, we simply trigger the option to move the closing up.

Don’t wait for the spring market.

Most sellers think they should wait to list in the traditionally hot spring market (post March break to May) While that is when the most home sales typically happen, keep in mind your home has more competition and therefore, buyers have more choice.

We are always astounded by the results of listings that go on the market earlier in the year. We’ll see homes on the market that were listed in the late fall or winter that didn’t sell, suddenly commanding multiple offers.

There is something to be said for the combination of pent-up demand over the lull of the holidays with the lack of inventory in the new year. Buyers are hungry and don’t want to wait for the spring when they will be out in droves.

Think Hyper-Local

Media headlines can drive some homeowners to retreat and forget about their goals.

What is happening across Canada – even what is happening on the other side of the DVP – can be dramatically different than what is happening in our neighbourhood.

As a general rule, Toronto’s Eastside has proven to be resilient from much of the value fluctuations – particularly when values drop in other markets.

Be secure with knowledge

Know where you stand. The only way you can understand your home’s true value is with a comparative market analysis by a full-time, professional agent in your market who knows comparable homes and market conditions.

All the difference

Having a pro guide you through life-changing decisions like listing your home makes all the difference. Make sure you work with someone who brings a wealth of knowledge to the table and a team of experts who can make it all happen for you when the time comes.

Interested in more advice on the optimal timing for your sale? Reach out to [email protected] or 416.699.9292

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