Hi ,
Selling your home is a big decision, and one
many people struggle with for quite a while before they actually go ahead. Here are four signs that you are ready to sell:
1. Favourable Market Conditions
When there are more buyers
than there are houses for sale, it is a seller’s market. And if increasing property prices coincide with short supply, that is the time to sell. BUT selling with favourable market conditions should still be weighed against your personal financial situation.
2. The Numbers Stack
Up
Potential financial gains from selling your home can be lost when you are buying and selling in the same market unless:
- You are downsizing or selling in a location experiencing strong price growth and you buy in a location that is yet to boom.
- You buy a property ‘ripe for renovation’
in a similar or cheaper location.
- The property sale price offsets the fees associated with selling and buying another property.
3. The Numbers Aren’t Stacking Up
You may be thinking of selling because you are struggling with mortgage repayments and the cost of living. Selling your home in this scenario may be a good move if it relieves significant stress, especially if you can buy again in a cheaper area. But it is always best to seek reliable financial advice and discuss your options with mortgage providers before deciding to sell your home in these circumstances.
4. Emotional Readiness
If the market is favourable and the numbers stack up, it is time to consider the emotional aspects of selling. This can be difficult, but you may be emotionally ready if you
are focused on the following benefits:
- You need more space. Your family has grown bigger and you need more bedrooms, living spaces or garden.
- You need less space. You’re an empty-nester ready to downsize into something more manageable.
- You want to be closer to work, family, good schools, public transport or healthcare services.
- You’re ready for a seachange, treechange, or just somewhere different.
A property advocate can help take some of the stress out of selling with good advice and practical support to make the selling process easier. They may also know the perfect buyer for your
property!
