There is a lot of talk about tariffs, and their effects on our economy and the real estate market, amongst other things. I have some thoughts on real estate during these times. Buying or selling a home can be an emotional journey, and with today’s market uncertainties, it’s even more important for you to stay positive and in control. Let's look after ourselves and our personal mindset:
- Take Breaks from the Noise: Too much news or market speculation can create stress. Trust the process and us. We are here to listen to your concerns, and work through them with you.
- Control What You Can: The market is unpredictable, but your preparedness, attitude, and decision-making process are within your control. Trust in yourself.
- Focus on Your Goals: Whether buying or selling, keep the bigger picture in mind—what is driving this decision? We can't put our lives on hold, moving forward is always the goal.
For Buyers:
- Time to get on it! This is the sweet spot! Prices waned the second half of 2024, and with the spring market looking to be relatively robust. It is best to get ahead of it.
- Get Pre-Approved: Knowing what you can afford gives you confidence and an edge when making an offer. I know, obviously, but it's better than falling in love with something you can't afford.
- Stick to Your Budget: Avoid emotional decision-making by setting a clear price range and staying within it. This is not the time to risk being house poor.
- Be Patient but Ready: The right home is out there. Stay patient but prepared to act fast when a good opportunity arises. And don't sweat the small stuff, if something is changeable then don't let it stop you from moving forward and on the other side, if there is something you don't want and it is not changeable find something else.
For Sellers:
- Aim for the Spring Market: All signs indicate that the spring market will be good. I'm unable to assess the rest of the year presently but once I can see clearly into my crystal ball, you'll be the first ones to know.
- Understand the Market: Knowledge is power. Stay informed about local market trends so you can set realistic expectations for pricing and timelines.
- Prepare Your Home: Focus on what you can control—decluttering, staging, and making minor repairs to attract buyers.
- Be Flexible: Market conditions can change quickly. Being open to negotiations and adaptable to feedback will improve your chances of selling successfully.
For Those Renewing Their Mortgage:
- Consider a Fixed Mortgage: I think consistency and stability is key during these next 4 years. By the time your mortgage comes to term things will have changed.
"In challenging times, it’s important to stay strong, support one another, and focus on what truly matters—our families, communities, and local businesses. By choosing to buy Canadian, we help sustain our local economies. Together, with kindness and resilience, we can overcome any obstacle and build a brighter future for everyone."
