Stay or Go – When is the Best Time to Sell Your Home?

When the COVID-19 pandemic was declared by the World Health Organization in March, home sales across Canada fell sharply as the country entered lockdown. Open houses were no longer feasible and fewer homes were available during the period when social distancing measures were initially instated. Now, after several months into the pandemic, the real estate market is bouncing back, seeing a significant rise in sales and listings despite the lingering uncertainty for both buyers and sellers. So, if you’re asking the question, “Is now a good time to sell my Ottawa or Orleans home, or should I wait?”, the answer is “don’t wait!”

Why You Should Consider Putting Your Home on the Market Now

If you live in Ottawa or the surrounding area and plan on putting your house on the market, now is a good time to do so. As the region begins to reopen its economy and restrictions are loosened, there is an increased demand and the market has become extremely active. Here are a few reasons why you should consider selling your home now, despite the ongoing pandemic:

• Serious Buyers: Currently, individuals must adhere to stricter guidelines when buying or selling a home. The process has become a little more complicated due to the pandemic, so you are more likely to encounter buyers who really want to or need to move and are willing to make an offer right away.
• Low-Mortgage Rates: At this time, mortgage rates are extremely low, relative to what has been observed in the past. This is very attractive to home buyers who will be more motivated to purchase a home and take advantage of these low rates.
• Extra Preparation Time: Take advantage of the extra time by making some minor improvements to the interior or exterior of your home before listing it. With more people working from home than ever before, buyers will look for homes that are both stylish and comfortable since this is where most of their time will be spent. In making these upgrades, you can also draw in more equity as the seller.

Selling Your Home? Century 21 Action Power Team Ltd is Here to Help

Your safety and comfort are our top priorities. That’s why the Century 21 Action Power Team has put additional precautions into place to ensure you have a positive home buying or selling experience, despite the ongoing pandemic. Whether you are looking for your forever home or a commercial space in Orleans or Ottawa, you can expect a wide range of options to suit your needs when you work with us.