Selling your property is not always an easy decision. It’s rarely a black-and-white matter; typically, there are several factors at play and it’s not always easy to sort through them all.
Whistler is currently experiencing a seller’s market, which means that if you own a property in town, conditions are in your favour. With high demand for Whistler real estate and a low level of inventory, odds are good that there are plenty of people out there seeking a place just like the one you own – and many who may be willing to put forth an attractive offer.
Properties today are moving quickly and at price points that are higher than we’ve seen in many years. But how do you know whether or not now is the time to make a move and list your Whistler property for sale?
Cashing in during a seller’s market means that, depending on when you bought your Whistler property, you could be making an excellent return on your investment. The proceeds from a sale could come in handy if you’ve got big plans down the road. Maybe you’re getting ready to retire, or you have a few kids preparing to head off for university. Perhaps there is an investment opportunity in another growing market that you’d like to free up some capital for.
Selling your Whistler property today could be the right choice for you if you’re ready to reap the rewards of your previous investment, and scope out new opportunities for growth — whether that growth is financial, personal, or something else.
Another factor to consider is changes in your lifestyle. Think about where you were when you first purchased your Whistler property; now, consider where you are today. Chances are pretty good that things have changed in your life. For example, you may have purchased a chalet back when your kids were young and the whole family came up every weekend, but now the kids have moved away and you’re left with more house than you need. It might make sense for you to sell your Whistler chalet and downsize to something a little smaller, like a townhome or a chalet. If your life has changed, maybe it makes sense to change your property, too.
Yet another reason to list your house for sale is if you’re looking to simplify all aspects of your life. Whether it’s your primary residence, a second property, or part of your real estate portfolio, owning a home in Whistler comes with several responsibilities. As your life changes, you may find that the work required to maintain, repair, rent out, or even enjoy your Whistler property is simply not a priority item in your life right now.
This is especially true, for example, for former Vancouver-ites who have moved for business or personal reasons – they’re no longer just a couple of hours from their Whistler property, and managing the property from a distance may simply be more than they’re willing to handle. If your Whistler property is more of a burden than you’re willing to bear right now, why not take advantage of a strong market to divest of your investment?
Finally, if you were lucky enough to purchase your Whistler property at a time when the Whistler market was a little sleepier – say, in the post-2010 Olympics era – then you may be sitting on a rather attractive return on your investment. Real estate is a cyclical industry, and you know what they say: buy low, sell high!