Selling house in Winter vs Spring

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Dec 10th, 2019 8:55 pm

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Dec 7th, 2019 1:08 am

chinaboy1021 [OP]: Deal Addict; Jun 12, 2003; 2879 posts; 73 upvotes; Markham

Dec 7th, 2019 1:08 am

Selling house in Winter vs Spring

Hi guys,

My rental property has become vacant suddenly due to evicted tenant. I want to sell it ASAP and buy another smaller property. I know house prices and liquidity are lower in winter however I'd be buying into another property almost concurrently. I may have less choice but I'm thinking I won't lose too much value for timing because I'm selling "cheaper" (winter pricing) and buying-in again "cheaper".

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Dec 7th, 2019 1:42 am

oasis100: Deal Fanatic; Mar 27, 2004; 5092 posts; 3123 upvotes; Toronto

Dec 7th, 2019 1:42 am

prices are quite strong this winter.

Full-time Realtor

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Dec 7th, 2019 2:23 am

RealtorInvestor: Member; Jul 2, 2018; 262 posts; 256 upvotes

Dec 7th, 2019 2:23 am

The market is still very strong as a lot of buyers who have been looking since summer/fall are actually still in the market due to low inventory.

The real question is, why do you want to sell and incur all those transactional costs and then buy again and pay land transfer taxes legal fees etc? Is there something undesirable about your current investment property?

Realtor + Investor

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Dec 7th, 2019 8:33 am

senasena: Deal Addict; Feb 19, 2019; 1033 posts; 1391 upvotes; Stouffville ON

Dec 7th, 2019 8:33 am

Winter is a strong market other than few weeks around Christmas. What kind of price difference are we talking about between your larger property you are going to sell and a smaller property you are going to buy? The lower the price the stronger the market, it weakens as you move up into more expensive segments, also area dependant.

Full Time and Full Service Realtor

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Dec 7th, 2019 3:53 pm

ProductGuy: Deal Addict; Jan 1, 2017; 1330 posts; 1174 upvotes

Dec 7th, 2019 3:53 pm

You do realize that you will have to pay capital gains when you sell your rental property right...

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Dec 7th, 2019 5:40 pm

GaryR28626: Jr. Member; Apr 25, 2019; 187 posts; 208 upvotes; Ontario

Dec 7th, 2019 5:40 pm

Is it better to sell rental properties when you might not be working and/or you falll under lower tax bracket or after retirement ?

Dec 10th, 2019 8:55 pm

licenced: Deal Fanatic; Jul 3, 2011; 5773 posts; 2936 upvotes; Thornhill

Dec 10th, 2019 8:55 pm

Your timing is about a month too late for the best chances of you selling before the doldrums of December and buying before prices start to rise in the New Year.

But depending on where you want to sell and where you want to buy, the 3rd part of that equation - downsizing is going to be the determining factor. You might want to consult with a Realtor who understands these nuances.

chinaboy1021 wrote: ↑ Hi guys,

My rental property has become vacant suddenly due to evicted tenant. I want to sell it ASAP and buy another smaller property. I know house prices and liquidity are lower in winter however I'd be buying into another property almost concurrently. I may have less choice but I'm thinking I won't lose too much value for timing because I'm selling "cheaper" (winter pricing) and buying-in again "cheaper".

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