3 Questions to Ask Yourself Before Listing Your Home
A little planning now can mean more money in your pocket later.
The quick version
How will I get my home ready? Small updates can boost your sale price.
What will selling really cost? Commissions, legal fees and your mortgage penalty add up.
What is my plan next? Know what you qualify for before you sell.
Thinking about selling? Book a call before you list. I will help you understand your penalty, your options and your next mortgage.
1. How will I get my home ready for sale?
Start by talking with a real estate professional you trust. They will show you what similar homes nearby have sold for and help you build a plan for your market.
Some ideas to discuss with them:
Declutter and depersonalize
Take care of minor repairs
A fresh coat of paint, inside or out
Update light fixtures or hardware
Tidy up the yard and exterior
Consider a home stager
Professional photos or a virtual tour
Selling is not an exact science, and market conditions will shape your plan. Ask lots of questions and lean on your realtor's advice.
2. What will it cost to sell?
It is easy to do quick math: sale price minus mortgage equals profit. But there is more to it. Plan for:
Real estate commission, plus GST
Mortgage penalty and discharge fees
Lawyer fees
Property tax and utility adjustments
Moving and storage
The wildcard is your mortgage penalty. Breaking a fixed-rate mortgage early can cost thousands. Sometimes you can avoid it by porting your mortgage to your new home. I can help you find your exact number before you decide.
3. What is my plan going forward?
Make sure your plan is free of assumptions.
Buying another home? Get pre-approved before you list. Just because you qualified before does not mean you will qualify today. Rules, rates and your own situation may have changed.
Timing the sale and purchase? If your new home closes before your old one sells, bridge financing may help cover the gap.
Renting or downsizing? Know your numbers so your sale proceeds work as hard as possible for you.
Let us plan your next move together
Before you sign a listing agreement, let us talk. I will help you understand your penalty, your options and what you qualify for, so you can move forward with confidence. Book a call anytime.
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