Are you thinking of selling? Struggling to decide whether now is the right time?
With the last year providing an uncertain market for sellers, many cautious homeowners have held off selling their property, hoping that the market will pick up once again. But it’s not always this simple… We recommend you ask yourself the below questions before ruling out selling in the near future!
What are your living needs?
It is important when you are considering selling to weigh up what your needs in a new home are compared to what your current home provides you. Do you want a bigger space to accommodate the kids? Or maybe you want to downsize now that they have moved out and you’re heading into retirement years?
Often when purchasing a new home you take into consideration what your immediate future will hold but not always to the full extent. If your current home doesn’t meet your full living needs then now might be the best time to consider selling in order to find a home more suited to your requirements.
What is the condition of your home?
Is your property a little run down and in need of some work? Is it getting too hard to maintain the open space surrounding your block?
This is often an issue for maturing home owners who have retired and income is now more limited. These homeowners thought nothing of carrying out their own maintenance a couple of years ago, but now as they age, it has become physically and financially more difficult to make repairs and keep the property in working order. If your property needs some TLC, then keeping it in its current condition whilst waiting for an upturn could end up doing more harm than good!
What is your neighbourhood like?
Taking into consideration your neighbourhood is an important factor in terms of your home’s curb appeal and appearance, the demographic of surrounding people and the general atmosphere. In many cases, a small number of people can completely change a neighbourhood feel. For example, are neighbouring houses being bought up by younger families while you’re an empty nester? Or maybe one or two households in your street are no longer taking care of their gardens and it’s looking a tad rundown. No matter the situation, it is important to consider how your neighbourhood will impact your selling capacity to potential buyers.
How about the surrounding community?
In alliance with your neighbourhood and living needs, your community can be an extremely important factor to consider in terms of what your community offers you. What do you need for your life? Consider job opportunities, schools, aged care facilities, doctors, healthcare, general infrastructure and sporting facilities, what aspects of community life are fundamental to your life aspirations? What does your current community offer you in comparison to potential new neighbourhoods?
Is it worth waiting?
After taking the above questions into consideration, you might be thinking your home is getting too difficult to maintain or perhaps it’s going to be too expensive to renovate. In many cases, the decision to stay or go can be based on factors that can’t be changed unless you invest in a revamp or two. Yet, emotions often get in the way and you could end up struggling to decide what the best decision to make could be. If this is you, it might be time to consider selling sooner rather than later in order to avoid disappointment with selling prices.