Moving up the Property Ladder is a great time in your life. As your circumstances change, so will your housing requirements. You may need more space or wish to live in a different area. In this scenario, you will be both a Seller and a Buyer and both scenarios come with their own set of processes.
Some people prefer to sell first and then buy and some prefer to do things the other way around. There are pros and cons for both and you should discuss these with your Realtor®.
Your current home should be evaluated to get an idea of what it might sell for. The next step is to talk to your mortgage provider to determine what you can afford to buy in a new home.
From here the Buying process is the same as it is for a First Time Buyer – but things may have changed a lot since you bought your first home!
The selling process starts with preparing your home for sale – and this involves some work on your part. Your Realtor® knows what Buyers are looking for and will make appropriate suggestions as to what should be done to your home to show it in its best light possible and to get the best value for you.
There is a lot of information available on the internet, but I much prefer to talk with potential and existing clients face to face. My real estate experience speaks for itself and I can help you move up the property ladder with minimum stress and hopefully even make it an enjoyable experience!
From Kris' Blog
What a year it was! The total number of residential and condo units sold through the Board’s MLS® System throughout all of 2017 was 17,083 vs 15,526 in 2016, an increase of 10%. Residential sales volume was up 16% and the condo market up 22% increase in the number of units sold. Average 2017 residential sale price was $425,063, an increase of 6.8% over 2016, while the average condominium sale price was $269,903, an increase of 3.4% over 2016. For the month of December, members of the Ottawa Real Estate Board sold 771 residential properties through the Board’s Multiple Listing Service® System compared with 711 in December 2016, an increase of 8.4%. The 5-year average for December sales is 687.The average sale price of a residential class property sold in December was $434,098, an increase of 3.4% over December 2016. The average sale price for a condominium class property was $255,335, a decrease of 3% from December 2016. December saw an increase of 8.4% in the number of units sold in residential sales and 25% in condo sales. This could very well be attributed to the changes in the mortgage qualification rules implemented January 1, 2018. Since every area is different, if you are thinking of buying or selling, please do give me a call. And – don’t forget those referrals – they are a huge contribution to the success of my business. Kris...