Blog

How to determine whether it is time to sell your property

If you are trying to decide whether or not now is the time to sell your property, here are some things to consider before you take the plunge.

Upgrading/Downsizing

One of the main reasons people choose to sell their property and move is because they either want more or less space. Maybe you have teenage children who need more space, leading you to look for a home with extra bedrooms and living spaces. Or maybe your kids have just moved out and you wish to buy a smaller property so there is less property for you to clean and take care of. Whichever situation you are in, remember, be careful not to rush your decision. Ask yourself – If we are managing in this house at the moment, do we really need to move?

Understand your market

When trying to decide whether or not if now is the right time to put your property up for sale, it is important to consider the market you are selling in. Take the time to determine whether selling or not in that particular market would be beneficial for you. If you can, sell at a time when properties like yours are in high demand in your area and when the market is in a boom. Looking at property sales around you in the past six months will give you a good idea of where the market is at.

Upkeep of the property

Another driving factor in many property sales is the decision that homeowners make to move rather than renovate. If you are in this situation, it is important to consider if the cost of a renovation would outweigh the cost of moving to an already refurbished home. Regardless of the cost difference, eliminating the hassle of a renovation by moving to a new home may be beneficial in itself for you.

Are you financially ready?

Whatever stage of life you may be in, it is vital that you are financially stable and prepared if and when you decide to move houses. Maybe you are just starting out and have saved enough money for a deposit on a nice home. Or maybe you wish to sell your property and downsize in order to supplement your retirement fund. If you are further along in your working life, it is vital that you consider whether buying a new property is a financially sensible decision. You do not want to get a big mortgage when you are trying to scale back for retirement.

Proximity to amenities

When deciding whether or not it is time to sell your property, the number one priority on your list may be to move closer to work or amenities. Moving closer to work or your local shops, parks and sporting facilities can make a huge improvement to your quality of life, dramatically reducing the time of your commute. If you are able to afford the luxury, putting your comfort and lifestyle at the top of the priority list can lead to a happier and less stressful lifestyle.

If moving home or selling an investment property has been on your mind, we’d love the opportunity to provide you with an up to date market value. Contact us today on 4902 7222.

We look forward to working with you to achieve your Real Estate goals.

Robinson Property

Natalie

Leave a Reply

Your email address will not be published. Required fields are marked *