Currently, we are in one of the most exciting, challenging, and occasionally frustrating real estate markets that Canada has ever seen. Houses of all types are in demand everywhere, and prices are going up, up, up as a result. 

The desire for family homes in Ottawa is exceptionally strong and becoming even more so as time rolls on. Why family homes and why Ottawa? In this post, we’ll dive even deeper into the nuances of the local real estate market to uncover the endless possibilities available to you as a homeowner and explain why Ottawa is in high demand.

Ottawa Is a Highly Sought After City

Canada’s Capital City holds a lot of appeal for people from all backgrounds and walks of life. For anyone seeking a higher education, Ottawa stands head and shoulders over other Canadian cities, with numerous high-quality colleges and universities within the city. In fact, we are well known on the world stage as one of the top cities for students. 

With plentiful government positions and one of the biggest tech corridors in the world, Ottawa is quickly becoming a prime destination for career-seekers and professionals of all ages. 

This combination of safe communities, boundless activities, high-quality education, and high-paying career opportunities also makes Ottawa one of the best places for families. 

Add a vast array of vibrant and exciting neighbourhoods to the mix, and you have one of the hottest destinations for relocators from all over the country. No wonder the real estate market here is on fire!

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Want to learn more about Ottawa and its fascinating neighbourhoods? Here are some related reads you may enjoy:

• Neighbourhood Spotlight: Little Italy
• The Glebe – Ottawa’s Historic On Foot Neighbourhood
• What are the Best Ottawa Neighbourhoods for Retirees?

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Should You Consider Selling Your Ottawa Home?

With unprecedented demand from young buyers and relocating families, your Ottawa home could currently be worth a fortune. If the children have grown and have or will soon move on, now may be a great time to consider selling. What are some other signs that the time may be right to move on? Check to see if any of the following rings true for you:

• The non-stop care and maintenance of your home is starting to feel like too much.
• The cost of repairs almost makes your eyes pop out of your head.
• You have rooms, maybe even an entire floor, that you rarely even use.
• You often feel like your house is too big or too empty.
• “For Sale” signs on smaller townhouses have started to catch your eye.
• You’ve been bitten by the travel bug and want to see the world.
• No reason at all other than you’re ready for a change!

Selling your home in a competitive market like this one may help fund the downsized lifestyle you have always dreamed of. Moving to a smaller home or condo means less maintenance to worry about while you go about your business and live life to the fullest. If you decide that this is the time to move on, keep in mind that Ottawa is a city in high demand. So what happens next?

Formulate a Plan

The time may feel right, but that’s just the start. The process and endless to-do list can seem overwhelming. Luckily, you don’t have to do any of it alone. In fact, with a full-service real estate team by your side, you barely have to do any of it at all. Really, the first step in your selling journey is to choose the right team of experts to handle everything and to work on your behalf and a little background research will help ensure you find a Realtor® who will help you achieve the best results with as little effort on your part as possible. Questions you might want to ask your prospective Realtor®:

• Are they a full-service team or will you be expected to handle the brunt of the work yourself?
• Do they have a network of other professionals they can recommend for anything you need help with?
• Are they full-time agents well-versed in the current market, or is real estate something they do on the side as time permits?
• Do they have a solid web presence and a comprehensive plan to market your home to potential buyers?
• What level of support do they offer after your home sells and during the closing process?

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Looking for even more inspiration to simplify your life when downsizing? Here are some resources that can help:

• Why Sell Your Home When You’re Living Mortgage Free? 
• Is It Better to Rent as a Senior in Ottawa?
• What Is the Art of Letting Go? How to Declutter Your Home At Last

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Steps for a Seamless Buy or Sale of an Ottawa Home

Since the goal is to maximize value and ensure that you, as either a buyer or seller are completely satisfied we recommend a few simple steps to make the buying and the selling just a little bit more painless:

Make the decision. This simple step can actually be the hardest. Once you decide to make the leap, your real estate professional can guide the entire process.

Plan. Before selling or buying, it’s a good idea to have a roadmap of where you want to go, which neighbourhood you want to live in, and what type of house is right for you.

Determine the fair market value of your existing home. Getting the right price is essential to maximize your sale and empower your next move. Your real estate agent can perform a CMA (Comparative Market Analysis) to ensure your value is based on fact, not emotion. If you are planning to buy, make sure you are financially ready for your purchase and are a qualified buyer.

Prepare your home to dazzle. Appealing to buyers will help you enjoy a faster transaction while earning the highest possible amount. At the very least, it’s time to clean, declutter, and scrub your house inside and out. If your Ottawa buyer has their heart set on your neighbourhood, make sure your home is a stand-out!

Market your listing extensively. The more outreach you have, the more likely you are to find a qualified buyer for your home. Your real estate agent will often have a built-in marketing system to generate as much interest as possible and will be keen to get your house on the radar of their prospective buyers.

Each of the steps above includes a process of its own, however, focusing on the big picture helps you stay on track without feeling overwhelmed. And once you find a real estate agent you can trust, you will never have to tackle any of these projects alone. You can be as involved or uninvolved as you like, or even hand off the entire transaction to experts who will work relentlessly to deliver a stress-free transition!

Are you thinking of selling your home in Ottawa or downsizing soon? Planning early is the key to success, and we are happy to help you each step of the way. Likewise, if you are a buyer thinking of making a transition to Ottawa, let the Chell Team help you. You can reach out to us anytime at 613.829.7484 or email mail@chellteam.com with any questions you may have.