If you are anything like us you have heard the following comments several times in the last year or so:
· Can you believe what so and so got for their home……
· They are selling and downsizing and/or moving out west, down east
· They are going to be working from home forever so they can live anywhere
Yes the change in work environment has been a result of the ongoing pandemic…… likely we will go back to somewhat ‘normal’ at some point in the near future. Many jobs will remain ‘work from home’ positions, so therefore employees can basically live anywhere and work remotely.
Many people are selling and uprooting their families and moving elsewhere….. out of the city especially – for a better quality of life for their family (in many respects). Less hustle and bustle and less stress. No arguments there have been lots of changes in the past year and a half.
The real estate market is no different…..changes abound. With ultra-low interest rates and mortgage rates at all time lows as well, people are taking on larger mortgages and/or getting into the housing market from the rental market.
We always counsel our clients to make wise decisions. Over the years we have said not to rush into bad decisions during stressful times. IF you are considering moving – move for the right reasons that make sense for your family, not just because the interest rates are low and you can get a more than fair value for your home. Moving is expensive and it is a big decision – take the time you need to make the proper decision for you and your family. Same can be said about getting into the second property and/or cottage market. If you are interested in that lifestyle – do your research and make sure again that it is the right decision all round. Make sure the overall decision is made from an affordability standpoint as well and taking everyone’s opinions into consideration.
If you are looking for a sounding board we are here and happy to lend an ear. We have many years of experience, which also means that we can tell many good and not so good stories that will hopefully help you in making your big decisions.
Health, Happiness & Success!
Deb, Kelly, Gary & James