Bruce Cram - Real Estate

The 3 essential steps to moving up to a larger home in Central Toronto in the next 3 months:

1- KNOW YOUR NUMBERS
Getting preapproved for a mortgage before you begin your search has always been the first step. If you have already begun your search but haven’t buttoned down your financing then you should stop looking until this step is completed.

We're in a high interest rate environ,ment. The cost of borrowing isn’t as cheap as it was only a few months ago and the mortgage stress test is still limiting.

One strategy could be to determine how much of your monthly income you want to spend on housing. Work backwards to determine how much financing this will carry. Speak to a professional.

You don’t have to be a numbers person. If you would like an introduction to the city’s best mortgage pro’s DM me for my list.

2- GET SPECIFIC WITH YOUR SEARCH CRITERIA
Since the shift in the market toward the buyer, houses listed for sale are taking longer to sell. This has resulted in lots of choice for buyers.

Previously, in the seller’s market, the suggestion was to be open to homes that didn't check off everything what you wanted.

With more inventory comes different challenges.

Be specific of your search criteria. You want to spend your time only seeing the houses that excite you.

3- SELL FIRST
This is a big element of a move up to a larger home than in the past. If you have a house to sell then you need to sell first. Homes are taking longer to sell.

There's still lots of buyers out looking. They’re being super selective over which houses are getting offers.

In order to get your home sold, you need to deliver tremendous value over your competition to the motivated buyers in today's market.

If you're looking for a market tested home selling system that gets results then download my C.R.A.M. Method guide. To get started see link in profile.