Location, location, location is simply no longer enough.
You need to start thinking about Timing when trying to get the most out of your investment.
Of course location and size of the home will always be at the top of anyone’s list when assigning value to a property, that’s likely never going to change. But another important factor these days is price. It seems ever week we read about a bubble, or in the most recent example from BMO, a “balloon”, but the truth is not many (if any) of us are given the foresight to tell the future. But something most experts can agree on, and what I always preach is to keep your focus on your local real estate market. So locally speaking, there are a lot of question marks over public sector jobs, Budgets, etc…
So with all this looming, you’ll want to keep Timing in mind when considering making a move. From the Seller’s point of view, I always ask ‘if you knew recovery took 5 or 6 years, would you sell now or wait?’. If Buying, are you on a short or long term strategy? If you are thinking of selling within a year or two, you may want to consider the costs associated with making a move in such quick succession, and if your gains will offset your costs. But again, if you're thinking of sticking around a few years in your new place, then your investment is probably safe.
What are some things that concern you when it comes to Buying or Selling?