07 Feb Monthly Update – February 2019
We are really setting snow records in 2019; it has been relentless, but picture perfect. Happy Valentine’s Day to you and your family and hopefully you have time to enjoy winterlude.
It is too early to see the market trend for 2019, but I believe it will be stable with growth, and some neighbourhoods stronger than others. I feel it is best to get an earlier start this year, partly because of the low supply of homes on the market. See below some of the reasons you should consider.
Check out our neighbourhood gallery and number of homes in your neighbourhood we have sold. https://joansmith.com/neighbourhoods/
Should you move or renovate?
Determining whether you should buy a new home or fix up your current one isn’t easy. In fact, the decision can be steeped in so much drama; they make reality TV shows about it!
So, if you’re wondering whether to move or improve, here are three things to consider:
1. Will a renovation truly fix what you don’t like about your property?
If you’re tired of a small kitchen, for example, given the layout of your house, it might not be possible to make it any bigger. On the other hand, if you’re craving a spacious rec room with a cozy fireplace, then a renovation could make that happen.
Of course, there are some things you may want that aren’t specific to your house, such as an easier commute or nearby park. Those are features you may only be able to get by moving.
2. How much will a renovation cost? How does that compare to the cost of moving to a new home?
It’s important to get accurate estimates of both the cost to renovate, and the cost of a new home, so you can make an informed decision.
Renovations often have a habit of costing more than you originally anticipate. Remember, the final result should be a home you want to stay in for quite some time.
3. Beware of compromising versus settling.
Whichever decision you make – to renovate or to sell – you can expect to have to make at least some compromises. That’s normal.
For example, consider the impact of adding an extension to your house. It would be a major renovation. Is it the ideal way to get the extra room you want? Do the benefits of renovating outweigh the benefits of finding a new larger home that already includes the space you need?
Should you sell your home in the winter? Here are the benefits:
1. Shoppers are serious
2. The internet has no seasons
3. Curb appeal is a cinch
4. Often less competition
5. Enjoy Spring & Summer in your new home
It can be a tough decision. If you’re in the midst of making it, call today to get the facts you need to make the best choice.
If you need answers to any questions on real estate, or want a market update we would be happy to give you the information.
Joan, Victoria & Luc