If you are considering selling your home, it’s always worth asking the question as to whether it is a good time to sell and when is the best time to put your property on the market. Selling your home is a big deal, and one that takes a lot of contemplation. It’s so hard to know whose advice to follow and what you should do for the best.
The property market can be a minefield of decisions and it’s important that you know when to sell your home and how to go about the process to achieve the best possible result. The reasons why people want to sell can be numerous, and sometimes beyond our control, for example, a divorce, a death or even debt.
If, however, you are one of those people who are simply wanting a change or a new start, we have put together these tips which may help you decide if the time is right:
Is the market buoyant? – is it a seller’s market?
Any reputable estate agent will be more than happy to discuss this with you, and offer you advice on the current state of the local market. That’s our job! It should be an honest discussion and not one based on trying to force you to sell. If you feel pressured in any way, choose another agent.
They should be able to advise you on the best time of year to sell, the realistic chances of a sale, an achievable asking price and whether there is much demand for your type of property at the current time. This will all help you to decide if the time is right for you.
Find out what your property is worth
Arranging for a market appraisal is a good first step to finding out what your property is worth and how the current market may impact on the speed at which you might achieve a sale. An appraisal will usually take around an hour and will offer you the opportunity to ask any questions you have.
A good agent will usually research your property and the area prior to the appraisal and once they have seen the full scope of your interior and exterior, they will be able to provide the guide price at which to list your property for sale.
We like to complete the appraisal and compile a considered valuation report before providing an absolute price at which to list for sale and this will be backed up by recent comparable property sales and consideration of the current market and how it may perform over the coming months.
Have your family needs changed over time?
It is important to ask yourself this – does this house still fit with our requirements? Have you recently started a family? Are you working from home and need more space? Have you met someone who also has children?
Whether you are planning to upsize or downsize, it might be worth writing a list of what you need from a possible new home, and compare it to what you have now. Will a move benefit you or your family?
It may be that your current property has the scope for expansion. Sometimes a loft room, a garage conversion or a lovely garden room can add the space that you never thought you had whilst adding value to your property in the meantime.
Are your financial circumstances different?
If you are lucky enough to find yourself in a position where you can afford to increase your mortgage, you may be looking to upsize to a dream home.
On the other hand, maybe your finances have changed for the worse and you need to rethink your mortgage situation. Either way, you can discuss this with your estate agent/mortgage provider and discover what options you have.
Write a list of reasons for and against
OK. Now this is the best tip. Grab a piece of paper and write an exhaustive list of every single thing you can think of that is for or against a house move.
I suggest you also ask other members of the family, including kids, for their ideas too. Have a proper family brain dump, clear your head and get everything down on paper.
Now, sleep on it. Forget it for a day or two so your brain has a chance to clear itself. When you are feeling relaxed and ready to tackle your list, get it out and look at it with fresh eyes. It may suddenly all become clear.
Hopefully this list of tips will help you make the right decision for you and your family.