Does your home feel smaller than it used to? Are you running out of storage space, feeling overwhelmed by clutter, or simply needing more room for your growing family? If you’ve been in your home for 3, 5, 10, or even 15 years, and it no longer meets your needs, it might be time to consider upsizing.
At Sold by Stokes, we’re seeing a strong market for starter homes, making this a prime opportunity for homeowners looking to sell and move up into their forever home. Here’s why now could be the right time to make a move.
1. Your Starter Home Might Be in High Demand
Right now, the real estate market is seeing an influx of first-time homebuyers and investors actively seeking affordable properties. With low-interest rates and a strong demand for starter homes—especially in the St. John’s, Newfoundland area—selling your current home could be easier than you think.
What does this mean for you?
- High demand for your home – First-time buyers are eager to secure their first property.
- Aggressive offers – With investors also looking to grow their portfolios, you could benefit from strong competition.
- Negotiable closing dates – Buyers are often willing to work with your timeline so you can shop for your next home stress-free.
2. Larger Family Homes Have Less Competition
While starter homes are moving fast, mid-to-high-range forever homes are taking a bit longer to sell. This works in your favor if you’re looking to move up. With less competition among buyers, you may have:
✅ More negotiating power – Sellers of larger homes may be more open to price adjustments.
✅ More options – A slower-moving market means you have time to find the perfect home.
✅ Easier transition – Selling and buying simultaneously is more manageable in this market.
If you’ve been waiting for the right time to move, this could be it.
3. Should You Sell, Renovate, or Keep Your Home?
If you’re unsure about what’s next, consider your options:
✔️ Option A: Renovate – If your home is in a great location but needs an update, a renovation could be a solution. We can help you assess whether it’s worth the investment.
✔️ Option B: Sell & Move Up – If you’re feeling cramped and renovations won’t fix the issue, selling and buying a larger home could be the better financial decision.
✔️ Option C: Keep & Buy – Some homeowners choose to keep their current home as a rental property while buying a new one. This is a great way to build long-term wealth.
What’s the Best Option for You? Let’s Talk!
If you’ve been thinking about upsizing, renovating, or even turning your current home into an investment property, we’d love to help you weigh your options.
📞 Contact Sold by Stokes today for a personalized consultation. We’ll walk you through today’s market, discuss your goals, and help you make the best decision for your future.
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