Are you hesitating when it comes to arranging the sale of your home? Wondering if it’s the right time? This article is for you! You’ll find a few questions you can ask yourself to determine whether today is the right time to sell your Montreal home!
What is your property used for?
Your property should serve you well in one way or another:
- This is your main place of residence. Your property meets the needs of you and your family.
- This is a property rented to quality tenants. You’ll earn a steady, reliable income from your property at low cost.
- It’s a place for relaxation, leisure or rest. You can use your property for weekend getaways and/or annual vacations.
If your property is vacant or costing you a lot in maintenance, repairs or tenant management, it’s time to think about selling!
Is there another property better suited to your financial needs?
In the business world, this concept is known as “opportunity cost”. But with your money tied up in your property, you could be missing out on a golden opportunity. Take the time to evaluate what’s on the market. Is there a better place to invest your money?
Do you have too much space?
People buy according to their current needs. If you have several children living with you, you may need up to 5 bedrooms. A few years later, however, you may no longer have any use for all that space. Taking care of a house that’s too big for you can be a real hassle! There’s no reason to stay in a large, high-maintenance home.
Do you feel cramped?
Conversely, family homes often tend to overflow. Families are growing, more possessions are being bought and more space is needed. Think of what an extra room could do for you and your family!
Is this really the home you want to spend the rest of your life in?
There’s no law that says you have to stay in the same house for the rest of your life. The beauty of the market is that you can always sell and move on. Think long-term. Imagine yourself in a few years’ time. Can you imagine yourself living in this house, or in a completely different place?
Is the property in need of renovation?
Perhaps you own an old house in need of renovation, and you just don’t feel like taking care of it. Taking on renovations you don’t want to do can not only be expensive, it can also be burdensome and stressful. Fortunately, you have the option of dealing directly with a buyer, such as one from Vendre Maison Vite, who will buy your Montreal home as is. We take care of everything, even major work on the property.
Do you have equity?
If you have the opportunity to sell your home, pay off your loan and keep enough money for a down payment on a new property, selling may be the best thing for you! And if you can have 20% of the cost of your next home in hand, that’s even better! If you would like to know the current value of your home on the real estate market, give us a call! We’ll do a Comparative Market Analysis (CMA) for your property! 514-320-1000
How much does it cost to own a home in Montreal?
How much money do you spend every month just to own your home? The cost of a property goes far beyond the value of its mortgage. Every month, taxes, insurance and maintenance costs are added to your mortgage. That’s a lot of money you could be investing in other projects!
If you’re seriously thinking about selling, it’s probably because it’s time to do so! There is no perfect, one-size-fits-all answer; take the time to sit down, do your research and compare your options so you can make the decision that best suits your situation! Need advice? Our team is ready to give you a hand and answer all your questions!
