When thinking about selling your home and before going through the joys of hiring a realtor and all that fun stuff, there are 5 questions you should ask yourself. The answers to these questions, and remember to be honest with yourself, will be a great indicator if you’re even ready or willing to sell.
So let’s break it down….
1. Why Am I Selling?
A simple and obvious yet very important question! Are you selling because you NEED to due to a job relocation, changes in your finances or a growing or shrinking family or because you WANT to, to have the home of your dreams with a great location, closer to work and something that will wow your friends and family?
2. Is It The Right Time To Sell?
What are the current market conditions? Is it a buyer’s or seller’s market? You want to receive top dollars for your investment and therefore want to sell in a seller’s market. But this will all depend on your needs vs. wants
3. Is My Home Fit To Sell?
If you were to list your property right now, would it show at its best? Your property might require a bit of TLC before it’s show worthy, a little can go a long way towards selling your home for a great price and receiving the terms and conditions you want.
4. Can I Afford To Sell?
There are other costs besides Realtor fees associated with selling your home. There are lawyer fees to close the deal, Land Transfer Tax to pay on the next property you’ll be buying and it can get quite expensive especially in Toronto. Movers, cleaners, penalties and discharge fees of mortgages, these can start to add up pretty quickly. Also can you afford the time it will take to sell your property? Which brings me to my 5th and final point…
5. Am I Committed To Sell?
Are you dedicated to the task at hand? This means living like you’re in a model home, constantly cleaning and picking up after yourself, being flexible and confirming all appointments and then leaving your home during showings and open houses. It’s basically making sure that your home is at its best 24/7 as you never know when a showing may be scheduled, even during the day while you’re at work. Remember not everyone has the same work schedule as you.
There are a lot of emotional and physical aspects to consider before placing that “For Sale” sign on your lawn. You want to ensure that you are truly ready on all fronts, so that this process is as least stressful as possible. The next step will be figuring out how you’ll receive top dollars for your home. Do you hire a Realtor, a discount brokerage, or do it yourself? I’ll leave that discussion for another time!
The following article was written by Aleksandra Oleksak, a former sales representative from Right At Home Realty, not only is she a Realtor working in Toronto, she’s a blogger as well.