Sellers Were Asking: Is There a Right Time to Sell?

Is There a Right Time to Sell?

Housing needs change throughout our lives. At first, singles need a place to call their own. Then families move to get more space for the kids. Later, ‘first generation’ retirees may want less to take care of, and finally ‘second generation’ retirees may need more support and services. Many seniors stay in their family homes and are perfectly content to stay there.

Here are a few things to consider if you or older family members have reached the point where a retirement move might be the best strategy.

  • Are you over-housed? Are you rattling around in your ‘empty nest’, paying more than you want for taxes, utilities and maintenance? If retirement has meant a cut in income, would a lower-priced home, townhouse or condominium be easier to manage?
  • Do you need the equity from your family home? For some home owners, the equity built up in a home is their main retirement savings. Sometimes a move is needed to convert that equity into cash and income to be secure for the years to come.
  • Is the home’s upkeep manageable? Do you have the time, energy or interest to paint, clean, mow, etc? Will the roof need replacing soon?
  • Does your home style match your physical ability? Are there too many steps or step-down rooms in your current home?
  • Has the neighbourhood changed? If friends, relatives, neighbours, doctors and stores have gone, maybe it’s time for a change.
  • Do you want to be closer to family? Maybe a move will save long trips and increase your visit time with the grandchildren.
  • Would a move improve your lifestyle? If travel is important, the ‘turn- key’ lifestyle may appeal to you.

If you find yourself in one of these common situations it may be time to consult a Realtor to help you decide if now is your time to make a move, or not. Our job is not to convince you to sell but more help you to make an informed decision, investigating all your options. Doing your homework ahead of time will always provide a better outcome than wondering “what if?” or even worse, waiting until it’s too late