In the real estate market, you can wait months for the home you want to come on the market and just as long to find someone who wants to buy yours. The price you expect may not resemble the one you get.
House prices don't go up forever. Buy when your circumstances dictate, not because someone says it's a good time to.
Location, Location, Location holds true always. You'll pay more for a good neighbourhood but it will pay dividends when coming time to sell.
Does renovating pay off? Stop watching realty TV shows where everyone wants granite counters and stainless steel appliance, hardwood, and spa bathrooms. You get the best bang for your buck with kitchen and bathroom renovations. The return on investment for these renovations is anywhere between 75 to 100 per cent. That means that in many cases if you spend $10,000 you only add that much value at best and maybe far less.
Paint works wonders. When it comes time to sell you may have been living in your home for so long that you don't notice the stains on the counch and carpet, or the sesame street wallpaper in the bathroom. Ask a friends, your real estate agent, or a home stager for their honest opinion.
Timing the market is hazardous. Housing is a long-term investment and sometimes you just have to commit.
Keep your perspective. Being emotionally attached to your home can mean that when it comes time to sell, your objectivity is compromised. In a buyer's market, with more competing lisings, your home is going to be difficult to sell and at a price less than you expect.