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After years and years of a housing boom, making money in the market was easy. All you had to do to make money in the real estate is buy a house and live in it for a duration of time. It was not uncommon for people to double, triple, and quadruple their investments; however, times have now changes. Some lucky people were able to sell there houses at huge gains, but for the rest of us, we still have the investment. Did we miss out?

A Different Kind of Investment

There are many types of investments available. You could invest in stocks, bonds, T-bills, GICs, and all other types of investments; however, a property investment is the only investment that gives you a roof over your head, and a place for your family to live. You will always need a place to live, so your property investment serves two purposes for you. Some other considerations is that on this investment you have to pay other fees like property taxes, heating, hydro, etc.

If you can still sell your property at a good price, then it may be time to hang on to your property because it can retain value so well. If you are thinking of buying a new property, then you could sel your property and rent. This will effectively help you to find a new property without the fear of not being able to sell your house.

Your Home, Your Investment

As a homeowner, it is important to recognize that you are the owner of the home. Think of your house as a mini company, and that you want to keep your house as valuable as possible. You should make the required enhancements and repairs to keep your property retaining its market worth.
When looking at your property, you should understand that yo are a long term investor in the mortgage market. It is extremely difficult to time the market; however, it is extremely easy to make money if you stay in the market for a long time.
In these times, it is highly likely that you will move to different houses throughout the course of your life. The houses that you move to may be extremely different based on the market that you move to. Your standard of living may change drastically from location to location that you move to, so be prepared for a change to your living conditions if you do have to move.

When to Sell?

Whatever history has shown us about our current time period, one thing remains true. A house is where you live, and it is your most important investment. House prices may go up and may go down from time to time; however, this is the location you picked to raise your family and live.
Although, looking back you may think to yourself that you wish you would of sold, or at least downsized; however, as a property owner, you do not get the luxury of selling a portion of your house, or selling the whole house but continuing to live in it.
The actual best time to sell your house and make the most money is to never sell your house. By moving only when absolutely mandatory, you will save up to approximately 10% of your houses value each time that you decide against moving. You also benefit by the compounding in value that your house offers over the years. If you don’t sell, then you will pay your mortgage off dramatically faster as well.

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