The Great Debate – Sell vs Stay

The Great Debate – Sell vs Stay

Making the decision to sell your house can be a tough one. Knowing if it’s the right time can be hard to determine. Here is some advice on the factors to consider before deciding to sell. 

Mortgage Rates

Historically, sellers have the best success when interest rates are low, and more buyers are shopping. The uncertainty around continued rate hikes, may indicate a good time to consider selling. Bear in mind that when interest rates go up, home values and offer prices can come down depending on demand. That doesn’t mean it’s a bad time to sell; it just means you should evaluate your selling objectives and consider if you might benefit from waiting.

Housing Inventory

As always, selling your home can be more profitable, when supply is low and demand is high. When supply is high and demand is low, selling your home may not be as profitable as you would like.


You may need to move for a job, a family medical crisis, or divorce and selling your home may be the only option. Changes to the family situation is probably the biggest reason we see moves happen. 

Home Value

If you have lived in your current home a long time, or if property values in your neighborhood have increased so you have a large amount of home equity, now might be a good time to sell. However, you don’t want to move when your home is considered “upside down,” meaning you owe more than your home is worth.

Living Space

For many homeowners, downsizing can be a necessity, either for financial, mobility, or other health reasons. If maintaining your home has become difficult, now might be a good time to sell. Or, perhaps you need more room because your family is growing, maybe an elderly relative or child is coming to live with you and the need is to upsize your home.


Due to changes in your income or other financial setbacks, selling your home now may be the only way you can avoid foreclosure and give yourself back control over your finances. If you’re in this situation, selling now may be wiser than waiting, given the current economy. On the flipside, if you have taken advantage of low mortgage rates to refinance and ease financial hardship, now may not be the time to sell.

If you’re happy and content in your home, it meets your needs and you can afford it, staying put maybe the best option. However, if more (or less) space, another neighbourhood, or another style of home keeps you thinking about a move this might be the perfect time to make it happen! As always, a professional real estate agent can help you make the decision that works best for you.