Spring is a great time to list your property. Buyers are more active this time of year and they know if they buy now, they won’t have to move until summer when the kids are out of school

Make sure your home is ready to sell the minute you list. Clean up the yard, make any necessary repairs, stage your rooms and take beautiful photos of the property. You only have two weeks to be considered a “hot property”. After that real estate agents start wondering why the property hasn’t been sold and they’ll start looking for ways to reduce the asking price.

Negotiate a long closing period. You want an active market when you’re selling, but not when you’re buying. See if you can give yourself enough time to find your next property closer to the summer when the market is traditionally cooler.

 

Affordability is key. You must be able to afford the home you live in or nothing else will matter. Get pre-approved by a bank. Mortgage rules in Canada are pretty strict. You can trust the bank will not approve you for a mortgage that’s out of your limit. But it is up to you to figure out your new monthly budget. Take advantage of online mortgage calculators to figure out what your regular payments would be. Spend a few months and set that amount in a savings account. This way you’ll know you can afford those mortgage payments and you’ll build up your down payment at the same time.
 

Check the employment rate of the city or neighbourhood you’re considering. Property values in towns built around one industry fluctuate depending on how healthy that one company is. Auto workers across Canada know this fact all too well. Try to find a location with a variety of employers.

Check the ranking of nearby schools. Highly ranked schools are like catnip to parents and homeowners. Property values increase dramatically if the home is within walking distance to a great school.
 

Easy access to transportation, either a major roadway or public transportation, will also help maintain the value of your home.
 

If you’re priced out of a hot neighbourhood, consider looking at adjacent properties. You’ll still be able to take advantage of the great amenities, but you’ll pay a fraction of the asking price.