Are you thinking about selling your house? Are you perhaps wondering if the time is right? Maybe you have a rental property and want to release some equity?
Often in life this decision is made for us; perhaps due to debt or divorce for example, but it’s not necessarily always so ‘cut and dry’. Often it’s a difficult decision, especially if there is no major reason to move; perhaps you just have ‘itchy feet’ or maybe you are yearning to do a property up and make some cash. Maybe you are simply bored of your current home and want a fresh start in a new area.
There are so many reasons why people move home… some good and some not so good.
We have put together these tips which may help you decide if the time is right:-
- Is it a seller’s market?
Are properties in your area selling quickly and close to the asking price? Keep your eye on the local market and do your homework. Rightmove is an excellent tool for this; simply put in a search for all property within a similar price range in your area, but remember to tick the box that says ‘Include property that is under offer’. This way you can keep abreast of local sales trends. Moreover, talk to a reputable and honest estate agent (like us) who will be happy to advise you on the current market situation in your area.
- Have a free valuation
Any decent estate agent will offer a free valuation of your property, with no obligation whatsoever. Explain to them that you are unsure so they can talk you through your options.Once you have an idea of what price your home may achieve, you will be able to make your decision from a more favourable and informed place.
- Have your needs changed?
Does your house still fit all your requirements? There are many circumstances that may change the way you use your home… perhaps you have started a family and need another bedroom; maybe you have met someone who also has kids and you need to double the size of your home; have you started to use your home to run a business? 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?
- Have your financial circumstances changed?
Perhaps you are thinking of moving because your financial circumstances have changed (hopefully for the better). 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 see where your options lie.
- What is your gut feeling?
Have you just started to entertain the idea of moving home, or is it something that has been lurking in the back of your mind for years? It may sound like a silly question, but it’s actually extremely relevant. Sometimes in life we might find ourselves feeling a bit ‘down’ or ‘fed up’ with things, and we might see a house move as the ‘end of all our problems’… a way out, in other words. It is important that you are honest with yourself. Do you genuinely want to move, or does something else have to change? Follow your gut and you won’t go far wrong.
- Write a list
Grab a piece of paper and write a list. For and against. Get everything out of your head, however small, and add it to your list. It will probably help you just by writing it down! You could even let all the family join in so you have everyone’s opinions included in your ‘brain dump’. 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, get your list out and look at it with ‘fresh eyes’. It may suddenly all become clear.
We hope these tips will help you to make your decision. It’s a big one, let’s face it, and it needs to be right.
We would love to hear your thoughts on this article. Do you have any tips we have not included? Can we be of any further help?
Send us an email at firstname.lastname@example.org or give us a call on 01326 218427.
We are a friendly bunch!