If you are a homeowner in Toronto and you have considered putting your house on the market, now is the time to call a real estate agent and do it. There are a lot of changes occurring in the real estate market and in the economy, so now is the time to get your house ready for potential buyers to come through. Depending on the area where you live and what type of home you have, selling the house may happen before you have found a new place to live. Here are a few reasons why you want to think about selling before the end of the calendar year.
Home Prices on the Rise
Home prices have increased in the Toronto area by more than 20 percent in the last year, so it’s time to sell and make the most profit possible if you have a house that you want to put on the market. Instead of waiting until the prices may drop, or until there aren’t as many interested buyers, the time to sell is now and you want to find an agent that can complete this for you quickly.
Mortgage Restrictions in the Future
Right now there are many mortgage applicants looking to buy homes, but new restrictions on mortgage rates are going to make it more difficult for people to buy homes. When it’s harder for people to get approved for a mortgage, the volume of home sales will decrease. Sell your property before you can’t find someone to get approved to buy it.
Foreign Investors are Flooding the Housing Market
Investors from around the globe are currently trying to break into the Canadian housing market, and they are trying to accumulate properties before taxes and mortgage requirements change. You can get rid of your property while there are several foreign buyers that want to buy homes for sale in your exact region, and while these buyers can still easily purchase Canadian properties.
If the thought of selling your home so you can downsize, build a house that you want, or to relocate has been something that you’ve talked about and considered, it’s time to put your thoughts into action and to hire a real estate professional to help you get started. You’ll want to work to get top dollar for your property, so you can invest the money that you make into another property, or into another type of financial staple in your life.