Have you ever been at the point where you just can’t decide whether or not to sell your home? You may be tossing up the pros and cons of selling right now. Indecisiveness around selling property is much more common than you may think. It is after all one of life’s most major decisions.
If you can’t decide whether or not to sell your property perhaps it may help you in your decision making process to work out your motivation for selling. Below are the top 5 reasons for selling a property, according to realestate.com.au.
- Financial
If you’re experiencing financial difficulties and feel overcommitted with debt then it’s best to address this early and proactively rather than wait until things get totally out of hand. The last thing you need is for the bank to make the decision for you.
- You’ve outgrown your home or it has outgrown you
Moving to something larger to accommodate a growing family is a very common reason for people selling and moving on. Others decide to extend to give them the extra space and rooms they need, but this option needs to be carefully weighed up as renovating can often end up being more costly than selling and moving. On the other hand you may find yourself in a large family home with only two of you to live in it as the kids have all moved on. Downsizing is another common and very valid reason for selling.
- The market is in your favour to sell
Believe it or not, there are distinct advantages to selling in both a strong and a slow market. It is most conducive to sell in a strong market if you’re looking to downsize or buy a property of lesser value. If on the other hand you are aiming to upsize or move to a better area, then that can be a good time to sell too as there will potentially be a smaller gap between the cost to buy and the amount you achieve in the sale.
- Change
Are you tired of commuting? Perhaps you’ve been offered a better job at the other end of town. Or maybe you are starting a family and want to move to the area zoned for the school you would like your children to attend. All those reasons are valid reasons to sell.
- It just feels right
Selling a home is a very personal decision. Sometimes the motivation to move on is driven more by our emotions than it is by logic. And that’s perfectly fine, as long as you consider the financial aspects as well.
At the end of the day, if you have balanced up all the pros and cons and find the pros for selling outweigh the cons (including emotional reasons), it’s probably a good time to sell.
Contact us if you’d like a current market appraisal on your property, as without the numbers you don’t have the full picture, which would make it impossible to make an educated decision.