Does It Make Sense To Sell our Real Estate In Nanaimo?

Does It Make Sense To Sell our Real Estate In Nanaimo?

“Should we move or stay put?” is a common question that many sellers agonize over when trying to decide whether or not to list their home in Nanaimo for sale.

Here are a few things to think about when trying to decide whether or not to sell the real estate in Nanaimo that you have now:

#1.  You have a lot of equity in your home.  Compared to almost anywhere else in the world, Canadian real estate prices have been barely hurt by the global economic problems.  So, you may think that it’s time to “cash out”, take your money and move somewhere else.  This could make financial sense, as long as  . . .

#2.  What are the financial consequences?  Be sure to consider any tax and financial consequences of selling your home along with the expenses involved in relocating and finding another home to buy in Nanaimo or elsewhere.  It’s easy to focus on the upside and forget about all of the hidden costs in selling and moving.

#3.  Where will you go?  Speaking of moving, if you’re even remotely considering listing your home for sale it’s a good idea to take a step back and look at what houses are available to buy and at what price.

#4.  Family ties.  While selling your home in Nanaimo may be financially rewarding, it could also be emotionally draining.  Consider having to make a change in schools for the kids, further distances from your close friends and family, and having to find new places to bank and shop.  It takes a long time to put down roots so be sure to think about whether or not you really do want to start over.

#5.  Is this a good time to sell?  If you’ve thought about these first four questions and still think that the time is right to sell your real estate in Nanaimo, talk to your realtor about the current market conditions.  While it’s always tough to try to time a market, your real estate agent can give you good guidance on what time of the year is best to sell and how to find the most qualified buyers for your home in Nanaimo.