Why is NOW the right time to sell your home?

I want to start this article with the preface that now could be literally right now, March 15, 2023. Now could be this coming summer or fall or now could be 3 years from today. The “now” that I am speaking of is when you enter into a season of life that makes the “now” now. Now, on to the article.

Selling your home is a BIG step. Not only are there a lot of logistics that have to happen and be planned for, but there can also be a lot of emotions, both positive and not so positive that can go along with it. Even just the process of deciding that now is the time to move can be a topic of discontent in your home, between spouses, between parents and kids, brothers and sisters and even neighbours. So as you evaluate the season of life that you are currently in and wonder if now is the right time for you to sell your home, here are a couple of nows that you may find yourself in that would make it a great time to sell.

Your home is toooooooooooooo big!

At one time you had 2, 3, or 7 kids and now they are grown up and moved on. Congratulations!!! Maybe you have some grandkids that come over and stay, but you no longer need all the extra bedrooms. Maybe what you need is more flex space??? Maybe now that the kids are grown, you want a space that is more reflective of you and you would like to have those extra features like a quartz countertop because you don’t have to worry that your 3 year old is going to use it as an oversized colouring sheet. 🙄

I don’t want to say, “Now is the time to downsize” because not necessarily does the house need to be “smaller” it just needs to be more functional to your life today. So “now” could be the perfect time to get you into your right sized home!

Your home is tooooooooo small!

At one time, it was just you, your partner and a dog. But now, you have 3 little gremlins running around and you need more space (Hello World😵‍💫). Now is the right time to be thinking ahead to what school district you want to be in as well. This can seem a bit overwhelming for sure and the idea of moving with young kids can seem insane! But it is so nice to know that you are in the home that will raise your kids. So if you are already out of space or you can see your family running out of space soon, “NOW” is the time to be planning your move.

Your needs from your house has changed.

I really see this being an issue for people who bought their home 5 years ago, and while your life hasn’t changed that much, maybe you now work from home and need a dedicated office space. Or maybe you spend a lot of time watching chicken reels on Instagram and you want to get in to homesteading because how hard could that be? Or, maybe as much as you love your home and your neighbours, you just want more space to let the dogs run and moving out of town is the best option for you! Whatever it is, your space is no longer meeting your needs - so “now” is the time to change your space!

Porting a mortgage

As I write this in March 2023, mortgage rates are at a high. Currently, prime sits at 6.7%. So many people are wondering, why would I sell my home NOW? My mortgage rate on my house is currently ?2%? maybe? But porting your mortgage is where you take the mortgage you currently have on your house and move that mortgage to a new house! You don’t necessarily have to give up that fantastic rate that you have. I, while a lover of the maths, am not a mortgage specialist so my actual advise is to talk to a mortgage specialist about porting your current mortgage to a new property. Not all mortgages can be ported (I’m looking at you variable rate mortgage) so you need to check in to see if this is an option for you.

Because you want to!

The last reason is because you want to. Nuf Said!