Managing Your Money

When it’s time to sell your home!

There can be many reasons to sell your home, and some of them can involve mixed emotions. Your home is filled with many memories, is a place of familiarity and comfort. It’s often a place of security and a place you can call your own. But it can also become a burden. Both physical and financial.

After my dad passed away my sister and I started encouraging my mom to sell their house. It was a lot of upkeep for her once she was alone. But as many of us do when we’re being pushed to do something, my mom dug her heels in, and told us clearly, “as long as I’m healthy, I’ll do what I want!” So we backed off, and let her be, what else could we do! But once we did, my mom took the time that she needed to get used to the idea, and eventually got to the point where she was ready to sell. My sister and I grew up in that house, so it was a very emotional decision for all of us.  Great memories, a home base, and the feeling of connection to my dad. But ultimately it was the right decision for my mom, and with the help and hand holding of Anton Fournier of Remax Actif St.Bruno, she successfully sold our childhood home and is now happy and comfortable in her new retirement community.

Once that decision to sell is made, there are many other selling factors that must be considered. Getting the house ready to sell, when to put it on the market, how to price it, and choosing a real estate broker to name a few.

Special Workshops
May 10th, 2017

Tips and tricks for Living an Organized Life: both financially and otherwise
with guest speaker Alison Lush, Professional Organizer
When it’s Time to Sell Your Home
with guest speaker Julio Borsellino, KW Dynamik real estate broker
Please contact Anna at 514-981-5796 to reserve a spot.
Seating is limited.

According to KW Dynamik real estate broker, Julio Borsellino, historically, we notice that the highest volume of sales happens between February and June and then peaks again from September to November.  Nonetheless, even between those periods sales are always occurring, because life goes on – someone might have to relocated for work,  financial troubles or even a separation might force a couple or an individual to sell, or sometimes a death will force a sale.  Selling during peak periods will mean more properties for sale, therefore more competition, which typically means more negotiations on the sale price.  Selling during quieter periods often makes it easier for one to get his/her price.  The buyer often needs to buy immediately, but having less inventory to choose from, is more likely to give the seller his price.

Julio emphasizes that pricing your home is half the battle.  Sure your home has to be well maintained & clean to attract an offer from a buyer, but “listing it” (putting it up for sale) at the right price is the most important variable when wanting to sell your home.  Nowadays, buyers have access to so much information that they can easily see what other homes are asking.  Those working with a real estate professional for their purchase also have access to sold data.  Overpricing your home can cause your home to sit on the market for a long period of time, which will eventually lead it to “expire” (not sell within the time frame of the real estate broker’s contract).  Note that an expired home can be perceived as a home that has problems to the eyes of the buyers, so not letting your home expire is ideal.

Julio goes on to explain that pricing your home should be based on the condition of your home (state of your home, recent renovations, etc.), the geographic location of it, and the current real estate market.  Looking at the current real estate market, we first look at the health of the market, which is different for every neighborhood and is constantly changing.   Is it a buyer’s market (which causes prices to drop), a balanced market (price to follow inflation) or a seller’s market (causes prices to rise)? Once the state of the market has been determined, looking at recently sold comparables gives us an indication of what buyers are willing to pay for your home.  Working with someone who understands the complexity of the market and can guide you through it, will ensure you don’t overprice your property and cause it to sit unsold for a long period.

Having seen the thorough process Julio goes through with clients, and the successful results he achieves, I emphasize again, as I have before, the importance of having a good relationship with the professional that you are working with.  When selling one of your most important assets, working with an experienced real estate broker is the best practice if you want a turn-key, stress-free experience.  Make sure to partner up with a broker who not only knows the market, but has a proven marketing plan which will ensure you get the highest price for the sale of your home in the shortest amount of time.  Inquire about his/her experience, number of sales, network of potential buyers, and most importantly, make sure you feel comfortable with the person.

Important Note: Upcoming Workshops Wednesday, May 10th, 2017

Alison Lush, Professional Organizer, Julio Borsellino, KW Dynamik real estate broker, and myself, will be presenting workshops together on May 10th,2017. We will be presenting, Tips and Tricks for Living an Organized Life: both financially and otherwise and When it’s Time to Sell Your Home.

Please contact Anna at 514.981.5796 to reserve a spot. Seating is limited.

Contact Julio Borsellino, real estate broker at KW Dynamik at 514.991.4732 or juliob@kw.com or visit his website at www.julioborsellino.com

Lynn MacNeil, F.PL. Vice President, Investment Advisor, is a Financial Planner with Richardson GMP Limited in Montreal, with over 20 years of experience working with retirees and pre-retirees. For a private financial consultation, or more information on this topic or on any other investment or financial matter, please contact Lynn MacNeil at 514.981.5795 or Lynn.MacNeil@RichardsonGMP.com.

The opinions expressed in this article are the opinions of Lynn MacNeil and readers should not assume they reflect the opinions or recommendations of Richardson GMP Ltd. or its affiliates. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances. Richardson GMP Limited, Member Canadian Investor Protection Fund.

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