Something’s changed. You’ve decided it’s time to start a family, or maybe you’ve just welcomed your second child. Are you feeling cramped in your Toronto condo and really want a back yard for the dog? In these situations it just makes sense to sell one Toronto Home to buy another.
But there are at least 3 other circumstances where it may make financial sense to hang on to your existing home instead.
SO, before you spend a dime on staging, or put that sign on the lawn, know your options!
Every so often I’ll get a call from a client who feel they may need to sell their home to survive a financial crisis or ease financial stress. Most of the time, I can show them there are other options.
It starts with putting my clients’ interests first - instead of just selling a house to make a fee. I can help them consolidate or restructure debt with the help of their financial planner or banker. If they don’t already have a connection, I can introduce them to the right professional.
Are you trying to figure out how to buy an investment property without selling your current home? If you’ve lived in your home for a few years, you may have enough equity in it to get the down payment for another property.
You may or may not qualify for this scenario, and you may not be willing to accept the increased risk that comes with the debt load. Before you decide if this is right for you, we should discuss ALL the potential risks and rewards that are specific to your situation.
You’ve just been blessed with a windfall. Either you’ve been given an inheritance or received a massive bonus. You can finally afford the home you’ve always wanted.
Now you're asking yourself 'Should I sell my home to buy another?' Do you want to? Maybe your existing home is a suitable rental property. Maybe you’d like to leave it to the kids? After all, you know all the quirks, strengths and weaknesses.
If that’s your situation, give me a call. With over 25 years experience as a Realtor/Landlord, I can give you advice on how to keep your home or coach you on how to find suitable tenants.
This is not intended to be construed as financial advice. Please consult a qualified financial planner before making ANY investment decisions.
John was highly recommended to me by a friend. Right from my first conversation with him I knew he was the right realtor for me. He patiently took time to...
-- Nicole N.