Optimal Reasons to Put Your Home on the Market in 2020

Relocating for an exciting career change, looking for more space to expand, or simply fancying a fresh start — there are countless reasons why you may consider selling your home. Regardless of your motivation, 2020 presents itself as an opportune year for homeowners contemplating a sale. This favorable condition is attributed to a combination of factors such as low-interest rates and an influx of first-time buyers into the real estate market.

In Quebec, the initial months of 2020 witnessed a remarkable 32% surge in home sales, indicating a healthy real estate market. This encouraging statistic not only reassures existing sellers but also instigates potential ones to consider selling amid these circumstances.

Here are some compelling reasons to consider selling your home in 2020:

Low-Interest Rates:

If you're still on the fence about selling your property this year or next, it's advisable to lean towards a predictable and secure environment. Currently, the interest rates are at an all-time low; however, it's uncertain how long this trend will continue. Increased rates in the future might diminish the pool of potential homebuyers.

New Entrants in the Real Estate Market:

Every day sees new prospective buyers entering the real estate market, particularly first-time buyers. This influx of buyers could potentially drive-up demand, leading to a seller's market.

Uncertainty in 2021:

The unpredictability surrounding 2021 only adds to the reasons for selling this year. According to the National Association for Business Economy, while none of the 53 professional forecasters predict a recession this year, a significant 66% anticipate a potential economic downturn from mid-2021. Hence, selling your property now could prove to be a judicious decision.

Here are some steps to prepare your home for sale:

Engage a Home Inspector:

Upon accepting an offer, your buyer might request a home inspection. Having a pre-inspection allows you to assess your home's condition, potential issues, and necessary repairs, facilitating a quick sale. Understanding your home's condition is crucial as it plays a significant role in negotiating the sale price and closing the deal.

Hire a Real Estate Broker:

Enlisting the services of a real estate broker could prove beneficial, allowing you to leverage their expertise and market knowledge. Obtaining referrals and checking online reviews are effective methods of finding a suitable broker.

Declutter and Stage Your Home:

Ensuring your home is decluttered and well-presented is vital. Eliminate unnecessary items to create an inviting space where potential buyers can envision themselves. If you find the task overwhelming, consider engaging professional help.

Establish a Selling Price:

With the real estate market and buyer behavior in constant flux, determining your home's selling price requires careful consideration of factors such as location, property size, house characteristics (year of construction, area, etc.), and overall condition. Engaging a professional appraiser can be an effective strategy to ascertain your home's value.

Maintain Availability and Readiness:

Ensure your home is always ready for potential buyer visits. A clean, well-maintained home can significantly increase the likelihood of a sale.

Final Thoughts:

In conclusion, 2020 market and window of opportunity to spruce up your home, position it attractively in the market, and find the right buyer. This year could prove fruitful for homeowners looking to sell, offering an excellent return on home improvements, potential for multiple offers, and the chance to purchase your dream home. Here's to a successful sale!