Life Changes and Home Selling
Saturday Jul 10th, 2021
Currently, the market has been slowing down, going in the direction of getting balanced in the months to come. According to CREA (The Canadian Real Estate Association), month-over month home sales in May 2021 declined by 7.4%.
Besides the changing real estate market statistics, there are also other contributing major life changes that prompts a homeowner to sell their home.
Death and loss
Unfortunately, some homes for sale are the estates of people who have already passed away. Death is often an emotional event for the family of those who passed on.
These estate executors would have to deal with their loss and consider the possibility of selling the home. They should be guided with a resource list of professionals who can prepare the property to sell, a generous timeline, and a listening skill to anticipate other needs.
Marital woes have only increased when the lockdowns due to the pandemic leading up to a rise in divorce rates. About 2.71 million people obtained a legal divorce and not remarried in Canada.
Divorce can be messy, so the property owners would need a quick and concise home sale preparation and selling.
Some seniors would be looking into down-sizing their current dwelling to be near accessible health care or senior care. They need a decent place of new living that matches their elderly needs.
These life changes can greatly affect the home selling decision and one should always partner with a real estate agent like JoAnn Visaretis that can help them navigate the transition they are going through.