There’s never been a more competitive market in Guelph. Ever.
If you’ve been watching any of our weekly videos or reading our blog, you’d likely notice a common theme- housing prices in Guelph are rising. This doesn’t happen by accident; it’s a function of an imbalance in supply and demand which causes prices to rise. That is, when there are not enough Guelph houses for sale to meet buyers demand, prices go up. If we suddenly had an influx of new listings, prices would settle down because buyers have more choice.
At the time of this writing (January 6, 2021), there are 26 available houses in Guelph. This dangerously low number means that the current housing supply in Guelph could be wiped out in 5 days or less!
But most people won’t just sell their house because they can get a high price. The other half of the equation is that you need to buy a house, too. If you’re moving within Guelph, many sellers debate whether it’s worth it to pack up just to make a lateral move.
Here are 4 considerations that may convince someone that now is the time to put that Guelph house on realtor ca
Your family situation has changed:
Maybe you bought your home when you were just married, but now that you have children you outgrown your current home and need something bigger. Although 3 bedroom homes are the norm, perhaps you need a 4 bedroom home in Guelph?
Conversly, maybe your children have grown up and moved out- now you want to downsize from that 4 bedroom home to a 2 bedroom downtown Guelph – and cash in some of the home equity you’ve built up for your retirement!
You’ve got your eye on a different neighbourhood.
When you moved to Guelph, you had priorities that kept you in a specific Guelph neighbourhood. But after living in Guelph for a while you’ve realized you actually like another area more!
Moving to that area could be easy, or a challenge. Things like available listings, price points and homes styles are all major factors in determining a neighbourhood move. As an example, a house in Clairfields is not the same as a home in downtown Guelph. Prices may be similar, but downtown Guelph homes for sale may be fewer!
Contact us if you are considering such a move- we know our Guelph neighbourhoods!
Your priorities have changed
You wanted to be close to the West End Rec Centre when your kids were taking swimming lessons, but they’re 14 now. You wanted to live close to the Guelph General Hospital when you worked there, but you have a different job now.
Many homeowners bought their current house to meet a goal of a specific time in their life, but now that this has changed, you don’t need to be in that location for a specific reason. Now, you want to live closer to downtown, closer to the highway, or closer to a Guelph Public Library branch.
You just want a change- and there’s nothing wrong with that!
Sometimes a homeowner just wants a change: new surroundings, a fresh start. Who says you need a “practical” reason to sell? If you’re looking to get into a new home just because you feel like it, that’s your choice. In fact, that may be the best reason of all to sell. You may simply want to move.
We’re noticing a trend of Guelph home sellers deciding to sell in Guelph and move to smaller urban markets- towns of 30,000 people and Atlantic Canada are popular these days!
You want to “unlock” some of that home equity
Let’s be honest- with COVID-19, some people have been hit hard with the unexpected pandemic of 2020. As a result, many have either been laid off, let go or have decided it was time to reconsider their future.
At the same time, average home prices in Guelph have increased double digits in 2020, meaning that houses in Guelph are worth more ever. Selling now and actually banking some of that equity may give you the financial boost you need at the moment.
Depending on your situation, you may be able to buy a new home in Guelph with a lesser downpayment and get an immediate cash infusion for tougher times.