Thursday, January 8, 2015

You Were Asking: Buying and Selling

It's quite natural to wish to sell high and buy low.  But, unless you are selling in a flourishing market and then awaiting market conditions to change to favour a buyer, that's not likely to happen.  You need to live somewhere in between and that means exploring your options, ie. staying with relatives, renting, obtaining a long closing on the sale of your home to allow for the time to purchase or, more conceivably, buying and selling in the same market.  

The hard thing to keep in mind is that your home is worth what a willing buyer wishes to pay.  That's so black and white.  Especially when your children grew up in the house.  When you just renovated and the homes you're now looking at need all that you just undertook. 

Here's the silver lining though.  You most likely will buy and sell in the same market.  So, if you lose at one end, you'll likely make it back up at the other.  Is real estate still a good investment?  Over the long term, yes.  Predominantly, you build equity over time.  House prices generally rise a bit more than inflation.  

Sellers, if you are waiting for the market to come to your price, recognize that most sellers are doing that.  So, when you put your buyer's hat on and head out to find your new home, you're still in the same market!

If we can help, give us a call?  Our Spring market starts up this month...January!

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