Question:

I am wondering if you could provide any insight as to what the real market will do in the next 3-5 yesrs. I ask this question as I'm trying to decide between selling my home now while the market is hot vs renting it for 5 or so years then selling. It is currently a renters market and I'm worried that I may not be able to rent it for what I need to cover off expenses. I also worry that the real estate market may take a downturn due to rumours of increased interest rates and I would get less for my home than it is curretly worth now.

Answer:

Although we can't predict what will happen in the future, talk is from T/D Canada Trust and CMHC that interest rates will increase. The market is currently still a sellers market because home prices are on the rise. It would probably be a good idea to have us come by and give you a free, no obligation market evaluation in order to determine price as it may be better to sell the home now instead of renting because of the rental market. Also, there are many concerns with renting other than just covering the cost of your rent ie: wear and tear on the house which could reduce the value. If you have any further questions please feel free to contact me at 613-830-9999. If we are not here page us and we will call you back.

Sincerely,

Craig Smith

Answered By: Len Huffman and Craig Smith

More Questions & Answers ...