• Deciding when to sell and setting the right price
• Prepare your finances
• Getting your home ready
• Timing
• Add experts to your team
• Understanding strata
• Freehold responsibilities

• Deciding when to sell and setting the right price

  In real estate, timing influences what your home will sell for. How quickly you need to sell, whether it’s a buyers’ or sellers’ market, and seasonality all play a role in your home’s final selling price. Stay on top of market conditions to better understand today's real estate prices. For the most detailed knowledge, you’ll want to consult your Realtor.

  The right asking price will attract attention and maximize your return. A Realtor helps you determine the best price to set for your home. They’re experts at assessing and marketing your home’s value. They’ll help you determine a price for your home based on their knowledge, experience, and market research.

  Prepare your finances

  Will the buyer “assume” your mortgage or are you “discharging” it? If you’re buying a new home, is your mortgage “portable”? What taxes are involved? These are important questions to ask your Realtor, your mortgage lender, and your notary public or lawyer.

  Financing your purchase may not be an issue if you’re downsizing your home, but you should understand the costs involved beyond the asking price. These include moving costs, lawyer or notary fees, utility fees, reimbursing property tax and utility payments, and your Realtor’s compensation. Plan for these costs when looking for your next home.

  Getting your home ready

  An attractive, well-kept home has a better chance of selling faster. Clutter makes rooms look much smaller than they are. Try to create a feeling of spaciousness.

  Minor updates, like improved lighting, can add value to your home . Think about how to highlight and improve your home’s best features.

  Timing

  How quickly you need to sell, whether it’s a buyers’ or sellers’ market, and seasonality all play a role in your home’s final selling price.

  Add experts to your team

  It’s essential to have a notary public or a lawyer handle the documents that change hands and ensure your best interests are always protected. If you’re looking for professionals, your Realtor likely has contacts they can recommend.

  Understanding strata

  If you're looking to buy a strata unit, ask your Realtor about potential fees and receive strata meeting minutes. You'll also want to know if there are any restrictions, such as ones for pets.

  Parking and storage are other considerations for strata home living. Understand your potential new home’s situation before buying.

  It’s also important to look for strata depreciation reports. They’ll help you know what building maintenance is coming up.

  Freehold responsibilities

  If you're buying a single-family or freehold home, you’ll be responsible for the heating and cooling systems, hot water tank, deck, and yard maintenance.

  You’re also responsible for exterior and interior maintenance. Unexpected repairs can also be costly. Take time to understand the costs of home ownership for the type of home you’re moving into.

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You already know that Realtors are pros when it comes to buying or selling. But did you know you can also have a conversation with them about almost ANY real estate topic?

Whatever you're doing with real estate - buying, selling, renovating, negotiating, financing, appraising, market analysis, or anything else - your Realtor is there to help. By offering useful tips, trusted wisdom, or just passing on some of the experiences of other clients like you.

Here are just a few questions you can ask your Realtor about:

• Which renovations add value to my home, and which don't?
• How much is my home worth over appraised value?
• A certain developer is building a tower in a neighbourhood I like. What do you know about it? Is he a reputable builder?
• When my mortgage comes up for renewal, should I go variable or fixed rate?
• The income I get from renting my basement suite ... do I have to claim that?
• I'm thinking about renovating my condo. What will I need to do before I get started?
• How can I tell if a builder or contractor is reputable? What should I look for?

Go ahead and ask!

Once you’ve figured out what you need to know, feel free to ask your Realtor about it. You can make a decision that gives you comfort and confidence going forward. Your Realtor is your trusted guide, your knowledgeable advisor, and your savvy long-term partner.

If you don't have a Realtor yet, use our online Realtor search tool, and find the right Realtor for you.