Why do we buy or sell anything? Although we can make some illogical purchases at times, the logic behind buying or selling is usually pretty straight forward. When we buy something it’s usually because we have a perceived use for it and when we sell something we no longer have that same perceived use. While likely a much larger financial decision than most purchases and sales, buying or selling a home often follows this same simple logic: buy what you need and sell what you don’t.
On occasion a client will ask me “is now is a good time to sell?” Before I answer this question, I need to first understand why they are asking. Is the client looking to maximize profit? Is the client looking for reassurance? Is the client looking for specific information about the market? Through careful discussion I am able to discover the client’s real concerns, motivations, and objectives. As a REALTOR®, my role is to properly advise, assist, and support people interested in buying or selling a home and I’m not able to do this well until I first have a clear understanding of my client’s needs. When I first meet clients, I like to sit down with them, ask them a series of questions, and then LISTEN. The first question I typically ask clients is “when did you first start thinking of selling?” The follow-up to that question is “what changed?”
The first home I ever purchased was a 1 bedroom and 1 bath condo in Vancouver. At the time I loved it. It was approximately 700 square feet which was enough space for the two people living there and it was situated near shops, entertainment, friends, the beach and many other Vancouver attractions. Out of town guests loved it too as it provided them with a free place to stay close to concert venues and other events. And for the record, I had a LOT of out of town guests.
After a few years, I started to think about selling. Something had changed. Discussions of children had begun, the commute to work was proving unhealthy, and 700 square feet was starting to feel a little too cramped. The decision to sell was made and a townhouse in Clayton where the commute would be less and the space would be greater was purchased.
Flash forward a few more years and add three children and my housing needs changed again.
When I sold my condo, I made the decision not based on market conditions but on lifestyle and living space needs. The initial desire to be in a hip neighborhood near Vancouver’s attractions was replaced by the desire to be closer to work and then eventually, when I had children, to a safe community: near parks, good schools, less traffic and with additional square footage.
When I sold my condo, was it a “good time to sell?” That depends on my objectives. Was it the “right time to sell?” Of course it was. My priorities and my needs changed and so my living space needed to change along with them.
If people have started to consider selling it is likely because, like me, something changed. If this is you, ask yourself when you started to consider selling and then follow-up that question by asking yourself what changed. Once you have answers to those questions, ask yourself if your current location and living space meets the needs of your preferred lifestyle. If the answer to that question is “yes,” then a move may not be needed, but if the answer to that question is “no” then give me a call and we can begin working together to find you a new home that better meets your needs.
For more information about this post or for any other real estate related questions, please feel free to give me a call, text, or email. I’m here and happy to help.