Unfortunately, many homeowners in Canada are thinking about selling their home to make ends meet; a few tips first and then a great CBC article of a senior and his experience regarding affordability.
Please note I am not a mortgage advisor or a financial guru; I am an owner of a real estate brokerage in London, Ontario, and a large percentage of our business is with seniors. These steps or ideas are what has helped many stay in their home or helped them to downsize or find affordable rentals.
- Ask for a consultation with a real estate lawyer, or an accountant, or your financial advisor and be upfront with them.
- Negotiate with your mortgage lender , you have many options and a good lender will assist you
- DO NOT JUMP FOR THOSE “WE BUY HOUSES FOR CASH” Read this for why not.
- If you must sell, have a place to go to first.
- If you must sell, interview more than one Realtor and ask these questions.