How to make the most of “Moving in the Spring”
A common thought when it comes to real estate is to wait till the Spring to move. This strategy has its merits! After all, by the time the first tulips pop up, most of us are barely hanging on after the unpredictable winters of Southern Ontario!
However, this works both ways: Sellers are ready to think about getting their house ready to put up for sale, and Buyers are optimistic with good weather ahead and ready to start looking.
So how can you make the most of it?
Here are a number of things to consider:
1. Where will you go? The search for the perfect property can often take a while. So it’s smart to start your search a couple of months BEFORE your target date.
2. What will the market be like? Spring markets tend to be a little busier on average. But then there are other factors like interest rates and qualifiers, prices going up or down, and volume of sales. Taking a little time to consider these ahead of time can help you to form the best strategy.
3. Mortgage Approvals – when that perfect house comes up, there are a few factors that come into play if a mortgage is involved: 1st, how much will you get for your exisiting house (if you currently own) since this determines the down payment for the next one. 2nd, has your situation changed at all since you last applied for a mortgage? 3rd, have mortgage qualifiers changed at all since you last applied? The best time to look after these matters is BEFORE you fall in love with a house you want to move into.
4. Condition of the home you will sell. Since the price you get for your house often determines how much you can spend and what your next house will cost you, a few minor investments in your existing house could put a lot more in your pocket when you move. Paint touch-ups, finishing work, caulking, landscaping, minor repairs. Sometimes the return on investment could be 10x!
HOW CAN THE MONAHAN TEAM HELP?
1. We can review with you the criteria for your next house, set up a search profile and start sending you properties to review. We currently recommend starting this process an entire 3-6 months before moving. We can even go see a couple of properties in person if it will be helpful. This will help you to know what you want, and know how much it will cost in the current market.
2. Market reports – we are constantly poring over the numbers. We will share our findings with you so you know whether the market is trending up or down, and help you decide the ideal time for you to jump!
3. Mortgage approval – we can help you get an approval in place so you know exactly what your costs will be. This will also help avoid unnecessary delays when it comes to making an offer on your dream house, since we will already have gathered all the necessary documents and know EXACTLY where you stand.
4. Market Evaluation, Repairs & Staging of your existing property – We will visit your home and do a full review, helping you to determine if you should do anything to ready it for market. Tight on funds/time? No problem. We have professionals and handymen ready for all situations and can assist you in getting things just right.
Hopefully this information helps you to get some perspective and start to refine your plan. There are a number of things you can do now to make the most of your next move:
· Visit our website http://ryan.brantfordRE.com and start browsing what’s out there
· Schedule a quick call with us to discuss your plans, so we can give you some suggestions
· Have us come visit your existing property to give you some suggestions to ensure you get the highest price in the spring!
Curious for a little more information about what we do?
o Check out Photo Galleries from some of our recent listings and the care we take with our properties: https://www.facebook.com/BrantfordRyan/photos_albums
o Some recent Virtual Tours we shot, to give an immersive initial visit and attract attention:
o Instagram http://www.instagram.com/realtor.monahan
Thanks for your time, and all the best in your plans for 2023!