Planning Your Best Real Estate Move
Throughout Canada, particularly in Toronto, house prices are out of sight, which makes it favorable for sellers and challenging for buyers. In Nova Scotia, prices have been falling, while sales have been rising. As a Halifax resident ready sell your home as part of a retirement strategy, what should you do?
The Housing Situation In Nova Scotia
Due to a low inventory of available homes, prices in Toronto for single-family detached homes have skyrocketed by 27% in November, 2015 as compared to last year. This puts first time buyers and even those trying to downsize in a difficult situation. In Halifax, housing prices have dropped by 4.67% in the past year, while home sales have increased by 19%.
The area remains fairly affordable although affordability varies by neighborhood. Pricing in Dartmouth,. for example, is vastly different than in Halifax South, which makes it harder to find a home in a more affordable area than in a more exclusive one.
Planning Your Best Real Estate Move
What should you do might vary depending on whether you are a Baby Boomer planning ahead for retirement or a retired person ready to sell your home to downsize to a smaller home or become a renter in an apartment complex or assisted living?
Given the peculiarities of the Halifax market, you should call me, a seasoned Realtor®, early in the game. I can show you the comparable sales figures for different areas of the city and help you assess your chances of selling and devise a pricing strategy for you.
You may also want to bring your financial advisor in on the discussions fairly early in your thought process. There are no certainties in the real estate market. If you are ready to make a move now, you may be able to add a lower price than you might have hoped. Your advisor might suggest that you wait out the cycle in hopes that prices will rise if you are a baby Boomer in your fifties or a retiree in good health with no urgency to move.
What Are Your Post-Retirement Plans?
What you do depends on what your plans are. If you are ready to buy another home in the Halifax region, you may get a deal as a buyer that offsets the compromises you might have to make as a seller. If your plans involve buying in another province, you may be caught up in the higher price cycle seen throughout Canada, your advisors might tell you to hold off
If you do want to move now, having a correct pricing strategy in place is important to ensure that you receive the maximum price for your house. I can help you price your home so that even after negotiation, you get the most you can. I can even advise you as to improvements you might make to get the best value.
Whether you are buying or selling or both – I am happy to help you fulfill your housing plans in 2017.
If you are ready to sell your home for maximum value, the best place to start is by clicking here and scheduling an appointment.
Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here
