While most people can agree that 2020 was a pretty topsy-turvy year all around, it’s also true that the effects are not quite over. Unfortunately, the turning of a calendar year does very little to change global problems. But, one serious upside of the situation is that we are more resilient as a global community.
Indeed, from citizens banding together to support local businesses to countries sharing their vaccines with countries of lower socioeconomic status, our bonds have never been stronger. Even as individuals, many of us have grown to understand and accept our role as a part of a country, and learned to continue our lives in spite of challenges and adversity.
More than ever, people are realizing that they have the choice to interact with society in their own way. For some, this means selling their property and moving somewhere new. For others, it might mean consolidating the family into a single home or taking advantage of some of the main reasons now is a great time to sell your home, such as:
Bank of Canada’s Lower Interest Rate
With a historically low interest rate (0.25%), the Bank of Canada is attempting to do more than encourage homebuyers to spend. They are stimulating the economy by making it easier for investors to take risks without fearing harsh penalties or high-interest rates. As a result, we are seeing renewed interest from many demographics, including first-time homebuyers and seasoned investors.
Spring is the Best Time of Year to Sell (Specifically May)
Most real estate agents will agree that spring is the best season to sell your home. In particular, May is the best month overall, as it is the first month after winter where the wet and muddy ground might be solid and dry enough to tend. Therefore, exteriors can be made presentable and home showings can begin.
With the earliness of May comes a rush of homebuyers as well. If a homebuyer is doing their job right, they will already have knowledge of the market they are looking at, as well as finances and moving plans at the ready. In short, most are eager to see what’s available and get in ahead of the rush.
It’s a Seller’s Market
We are currently in the midst of a seller’s market, wherein there are more buyers than housing available. This means that demand is up and any supply will quickly be bought up by eager folk waiting for a great deal.
For whatever the reason, if you are ready to sell your home, contact 2% Realty. Our friendly and knowledgeable staff will assist you with excellent service and a keen desire to see you happy.