You may want to sell your home right away but there are various factors involved in selling your house. You must take note of the seasonal fluctuations if you want to encash maximum rates. Be ready to hire a good real estate agent, research the local markets and revamp and clean the house after getting minor repairs done. Lastly capture the last moments as you wait for the best offers to roll in.
Pranav Puri, the best realtor in GTA states that the best time to sell a house is ideally spring, though this is just the half side of the picture. He suggests that you rev up your house in winters so that it is ready to be bought in warmer months. School breaks, longer days, comfortable weather and some refunds in pockets are the reasons that even summer is the second most preferred time to buy/sell a house in Ontario.
What are the Factors that help you Decide when to sell a House?
The most experienced real estate agent for buying or selling a house in GTA , Puri, says you must hire a specialist and even before that, study the following factors that can help you determine the right time to sell the house:
- Low Mortgage Rates
The graph of mortgage rates in GTA has been steadily rising after an all-time low four years back. The experienced realtors of GTA predict that the graph will continue to rise for some time soon in conjunction with the boom in the economy. It must be noteworthy that the morale of the first-time buyers will always be higher if the mortgage rates are low.
Pranav says that you have to effectively analyze a real investment opportunity before buying/selling a house. You must keep in mind that higher the mortgage rates, the higher will have to be the buyer’s budget.
- Seasonal Fluctuations
Spring and summer are the usual preferred times to put your house on sale. However buyers who seek a job change, layoff or face a family issue are willing to buy even in fall. There can be an urgency to buy because of the impending cold and harsh weather that shall ensue soon.
Winters, snow and icy cold weather is usually the slowest time to sell a house in GTA. Pranav says you should instead prepare and clean the house in winter to be sold in the coming season.
- Tax Incentives
The Government keeps introducing tax benefit schemes for the first time buyers like the First-Time Homebuyer Credit of 2008-10. Among things to do before selling a house, you must study the market so that you can convince the buyer of the tax benefit schemes and that the buyer can jump up at the opportunity.
Pranav says tax schemes play an important role, though there are no Federal Government schemes of tax incentives currently to benefit the buyers.
- Are You Ready?
Assess your mind and gauge if you are actually ready to part with the place that has helped you make memories all this while. Assess within yourself as to what are the reasons you want to sell your house? Is a job change, location change or is downsizing or moving to a condo the real reason? Contact the top real estate agent around you and discuss your preparedness. Do you wish to cash on the rising real estate property price benefit or living in an empty nest with kids having flown bothers you? Check your emotional and financial preparedness and see if you are actually ready to part with your house.
If you are willing to sell your house, look for the best real estate agent around you in GTA. Contact Pranav Puri, sales representative at HomeLife, Canada and seek his help to get you the best deals for your property. He shall assist you to list your house in the market and analyze the local factors suitable for selling. Get in touch with Puri and seek the best advice while selling your home.