6 Facts You Didn’t Know About Selling Your House
The need to sell houses in Vancouver has peaked and is on the upswing. There are many reasons why people want to get rid of their homes, such as moving for a new job or retiring.
For example, people who have pushed for work often find it hard to maintain two mortgages and end up selling their home instead of renting it out while they’re gone.
If you’re considering selling your house in Vancouver, here are 6 facts that can help you make an informed decision:
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Fact #1: The first one is that more people are buying homes in Vancouver.
The demand is just as high, if not higher, than the supply of houses on the market because there aren’t enough listings for sale and many buyers who want a home can afford to buy multiple properties with their salary or savings.
This results in bidding wars and prices going up at incredible speeds.
Fact #2: The second one is that the Vancouver housing market isn’t slowing down. It continues to be a seller’s market, and homes are selling within hours of being listed for sale on MLS.
Houses in good neighbourhoods with easy access to amenities have been known to sell at or above the asking price because there aren’t enough properties available for purchase.
Homes that need work will take longer than usual before they’re sold because buyers want renovations completed before buying them, and most sellers don’t plan on doing any upholstery until after their property sells.
However, homeowners who can afford to hire out repairs often do so right away and get top dollar prices when compared against other houses without makeovers done beforehand.
Fact #3: The third one is that the housing market in Vancouver has stabilized, and prices aren’t increasing as they were a couple of years ago.
There was a period where homes would sell for tens or hundreds of thousands over the asking price; however, those days are behind us now, and it’s likely to be this way until more inventory becomes available.
Fact #4: The fourth fact about selling houses in Vancouver is that condos can also get top dollar if you’re looking at short-term gains such as trying to buy another home before leaving Canada.
Condos with unobstructed views and luxurious amenities like gyms, pools and saunas will most certainly attract buyers who want these features included in their new condo purchase, which leads me to my next point.
Fact #5: Foreign investors are buying up many condos as investments because they’re quick to sell and can generate a sizable return on investment.
Fact #6: The sixth one is that foreign buyers aren’t just looking at condo purchases but also single-family homes, which have led to the Vancouver housing market becoming even more competitive than before.
In addition, many people who live outside of Canada have been moving into the city, so they don’t have far to commute from their new home when going back and forth from work every day.
In conclusion, people looking to sell their house in Vancouver will be happy with the results if they do so within a reasonable amount of time and don’t expect too much. However, suppose you want to get top dollar for your property’s sale.
In that case, it may take some time, and you’ll have to work at getting buyers interested by doing renovations beforehand or selling as is with no updates done whatsoever.