If you need assistance, please call 416-884-1359

NO ONE WANTS TO SELL… HERE’S WHY

Thursday, March 28, 2024   /   by Ameil Gill

NO ONE WANTS TO SELL… HERE’S WHY

NO ONE WANTS TO SELL… HERE’S WHY


Did you know that the average homeowner has nearly $200,000 in equity? This is largely due to the rapid appreciation we’ve seen over the past few years… and even though many homeowners acknowledge that the market is currently stacked solidly in their favor, most aren’t interested in selling.


Why? With historically low-interest rates locked in, homeowners are reluctant to give up their advantageous financing terms.


If you can relate, I get it — who wants to trade in a 3% interest rate for something double that (or higher)? HOWEVER, here’s something to consider… that mountain of home equity you have (which you otherwise would not have in a more typical market) can help offset the higher rate you’d be trading in for.


So if you’ve been thinking about making a move, consider reaching out to an agent (that’s me!) to discuss whether or not a move makes sense financially. You might be surprised!


And if you’ve been considering buying, don’t panic! Buyers are still finding homes and buying this Spring. Just make sure you have a knowledgeable and aggressive agent by your side.


Have you found yourself outgrowing your space but hesitant to make a move because of the higher interest rates? I’d love to hear your thoughts!

REMAX Realty One Inc. - The Gill Team
Ameil Gill
50 Burnhamthorpe Road West Sussex Centre Ste #102
Mississauga, ON L5B 3C2
416-884-1359

Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2024 Last Updated April 15, 2024
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2024 Last Updated April 15, 2024
This site powered by CINC: www.cincpro.com