Selling Later in the Year? Start the Process Now
Updated: Mar 29, 2022
Imagine you want to take the “trip of a lifetime” this fall. Would you leave it until the summer to start planning, booking dates, and generally getting ready?
Probably not. A trip like that is a big deal. You’d want to start making arrangements now, so by the time you’re ready to go to the airport, everything will be set for you and your family to have a great time.
The same is true when selling your home. If you intend on listing your property in the spring or summer, now is the time to start making plans.
Starting the process early in the year gives you four significant advantages:
1. Ample time to prepare your home. Starting now gives you time to declutter your property, get needed repairs done, and otherwise make your home ready to be seen by buyers.
2. Less stress. Unless you enjoy scrambling to get things done within a tight timeline, you want to give yourself as much time as possible to prepare for your home sale without the stress of a tight timeline. Starting early gives you that.
3. Listing date flexibility. Starting now means you’ll likely get your property prepared for the sale early in the year. Sure, your plan might be to list in the summer. But, if the market changes or some other opportunity presents itself, you’ll be able to list sooner. Your home will be ready.
4. More time to find your next home. If you’ll also be looking for a new home, starting the process now will give you more time to explore neighbourhoods, get financing arranged, and determine the ideal type of home for you. As you can see, it pays to start the process now, even if you won’t be selling until spring or summer.
5. Lastly, the most significant reason to consider listing your home now is that we are in a sellers market. There is a high demand for homes and very few currently on the market. Thus, homes are selling in competition for premium prices, well above asking. These circumstances make it the perfect time to sell if you're looking to get the best value for your property!
Furthermore, the emergency interest rates which were implemented by the Bank of Canada at the start of the Covid-19 pandemic are on the rise as of March 1st, which is the beginning of a series of increases projected over the next year(s). This is causing many of those individuals thinking of listing sometime in future to accelerate the listing process and get their home on the market today. Overtime, this will result in a reestablished balanced market.
If you've been considering listing your home at some point this year, but you don't want to miss out before the increased interest rates, and want to give yourself plenty of time to prepare, give me a call today at (905) 978-7653. I would love to help you throughout the buying and selling process!