23 Mar Reasons to Move
Believe it or not, there are truly countless reasons for someone to move. However, (for some) moving can be a monumental task and one that can be both daunting and uncertain. People often move for a variety of reasons such as noise, unruly neighbors, proximity to amenities, traffic, family turmoil, job relocation, poor landlord/tenant relationship, high crime rate, and so on. While these are all viable reasons, I am going to focus on the more general and cyclical reasons to move such as downsizing, upsizing, divorce or separation, affordability, and “out of the nesters”.
Many aging homeowners (at some point) will likely contemplate some of the many benefits to downsizing their larger more spacious home with a lot more carrying costs that may include such expenses as higher property taxes, maintenance costs, utilities, mortgage payments (if any), etc. Many of these people considering the advantages of downsizing are often described as “empty nesters”, as some or all of their children have moved out to be on their own. Generally, with the children out of the house, there is less need for space and all of the costs associated with maintaining it. Oftentimes, the “empty nesters” will renegotiate their priorities and make plans to sell their property and apply their equity from the sale to such leisurely activities as travelling, hobbies, sight-seeing, vacationing, cottaging, etc. In this stage of a person’s lifecycle, downsizing to a smaller home like a townhouse, condominium, or apartment is quite understandable and may be the best solution given this readjustment in personal priorities.
The term “upsizing” is simply best described as a stage in a person/family’s life cycle whereby more space is required for practical living. For example, if a couple lives in a one bedroom high-rise condominium and they are suddenly expecting their first child with plans of having more children, they may want to investigate the prospects of buying or renting a larger home. Upsizing is mainly concerned with the practicality of living in a specific space at a specific time. It is important not under-estimate the amount of space that is needed for any new additions to your family as well as to carefully research the neighbourhood surroundings and amenities.
Divorce or Separation
Sometimes in life, we may all enter marriages or relationships with the best of intentions, however there are times and circumstances where your best intentions aren’t exactly shared with your significant other. Depending on the level of friction that someone may experience or have to endure, a divorce or separation may just be the only viable solution. That being said, there are certain laws guaranteeing the rights of divorcing parties and while realtors have a base knowledge of many of these proprietary rights, it is highly recommended that you consult with a legal professional specializing in divorce and separation. Dealing with a messy divorce can be very tedious and cumbersome if both parties aren’t able to see eye-to-eye or one party is out to “bulldoze” the other. I have dealt with several nasty divorces and I can assure you that there is a winning formula to seeing an agreement reached but it does take some knowledge, guidance, expertise, direction and finesse to execute smoothly. If you, or someone you know, may be entertaining the notion of a separation or divorce where a property(ies)may be involved, give me a call as I would love to assist you in these trying times.
There may be plenty of times and circumstance where affordability of a home is not practical such as a job loss, death (of an income earner), disability, economics, etc. While the first three are quite obvious to issues relating to affordability, it is the latter that may be a little more ambiguous. This manual was written in the summer of 2016 and (historically speaking) house values are at an all-time high and show very little signs of slowing down. There is a lot of speculation and forecasts to go around, but it does seem as though year-over-year home sale values have increased by 10-15% unilaterally throughout the GTA. I suppose, (in a historical sense) affordability is at its lowest point and many homebuyers are looking for alternative ways to purchase homes these days.
“Out of Nesters”
Are typically, but not always “first-time” homebuyers that have decided to make the leap into the real estate market and away from the protections of their immediate family support group. Generally, they are very novice in the homebuying process and lack sufficient networks to effectively make “mistake-free” decisions unless (of course) counselled by an experienced realtor. For many first-time homebuyers there are a lot of decisions to be made and things to consider when weighing out the options to purchase a new home. Oftentimes, new homebuyers incur a sense of “tunnel vision” when referred a purchase-related product and/or service at the recommendation of family or friends. Most, simply lack the life experience or sophisticated social/business networks to make shrewd purchasing/investment decisions without any prior knowledge or undertaking of the service they require. I regularly work with new homebuyers and specialize in homebuyers that are not only new to the GTA, but are also new to Canada. As a part of my real estate service, I have a very thorough and highly sophisticated network of professionals to call upon for anything home-related. I have you covered anywhere from duct cleaners, to general contractors, to roofers, to landscapers, and right up to electricians. In fact, my networks run so deep, that I can easily make three recommendations per service. Much like trust, these networks have taken years to amass and can be hastily withdrawn (in an instance) if I were to receive one complaint. So that way, you can count on these recommended business professionals and their respective services to not only be responsible, but also very accountable.