Category: Consumer Resource

Is it time to trade-up? 现在是房屋买卖的最佳时机吗?










Is it time to trade-up ?

In the time where real estate market changes rapidly, there are inefficiencies in the sense that end consumers (home sellers and purchasers) are not up to date with the market information.  For example, how much they home can actually sell for and how much the prospective properties can be bought for with the changing market.


In the event you are a property owner of a 30 years old solid concrete two bedroom condo in Burquitlam area, espeially in the North Coquitlam sub-area.  It is a good time to be trading up to a newer condo, 10-20 years old 2 bedroom condos in nearby areas.

Let us help you do the math.


The Economics

Selling- Your home may be currently valued at $500,000 - $540,000.  

Buying- The prospective property is around $520,000 - $580,000.

You may end up investing slightly more capital to trade up.  Be mindful of closing costs, realtor fees, and property information.  Keep your realtor close and ask them to work with you navigate through the process.

The Market Trend

The values above will be largely predicated on the sale prices of comparable properties to your property. In Vancouver 2019, a downward trend in pricing is expected.  That means your home price is likely to be lower once your neighbours sell for newer but lower price, compared to six month ago.  Sellers have better negotiating position now, and therefore end up in better purchasing power than later in the year.