Although we are in the middle of our Canadian summer, we all know that this month will zoom by and before we know it September will be here. Back to school is on the back of our minds so this month is the best time to start planning and preparing. Homebuyers with young children will be interested to settle into a new home before school starts in September. If you are thinking of selling your home, August is a good time to put your house on the market. The market traditionally slows down the week before school starts and the first week of school. This is to be expected as many are taking last minute vacations or are focused on getting school supplies.
In Real Estate “back to school” also applies to ambitious agents aiming higher with their careers. I just recently received my Brokerage License and that required late night studying, dedication and lots of homework but there is always something wonderful about learning and growing. In my experience having a school near your home has a positive influence on the value of your house. Neighbourhoods with at least one good elementary school or middle school have a higher home price appreciation over the long term compared to homes without good schools. According to Realtor.com, 60% of buyers say schools affect their decision and 50% are willing to go over their budget so they can live in their preferred school district.
This August if you are thinking of putting your house for sale, you still have time to catch the “summer rush” however don’t fret if you do decide to wait, autumn is a prime ‘new’ time to invest in real estate. When the kids are back in school, there is more time to relax, less tension to settle as the bidding competition drops down. Even though studies show that more than half of homebuyers aren’t married and aren’t operating on school timelines, timing your listing is still an important factor that can make or break a home sale.
If you need expert advice on how to appeal to the right audience at the right time so your home is not sitting on the market for too long, contact me and I’ll be happy to assist you in selling or buying your next home. I bring knowledge, experience and passion.