Trying to time the market may be a mistake.
With Montreal home prices at an all-time high, I’m often asked by both buyers and sellers, “When’s the right time to make a move?”
If you’re a seller who thinks that the market is at its peak right now, you might be wrong. As a result, if you sell right now, you might lose out on all of the appreciation that will occur over the next few months and years. Similarly, if you’re a buyer who thinks it’s a good idea to wait for prices to go down before buying, you’ll face the same problem: You’ll miss out on all the upcoming appreciation.
Another thing to consider is that when you sell a piece of real estate, you’re probably going to buy a property. You have to live somewhere! Even if you do manage to time the market correctly and sell your property at the top, you’ll have to buy a property at the top too.
The ultimate answer to today’s question is that you cannot time the real estate market. If you’re looking to buy or sell, do so when your lifestyle requires it, not because the market is at an all-time high or low.
If you have any questions about the process of buying or selling a home or anything else to do with real estate, please feel free to reach out and give me a call or send an email. I’d love to help you.