Here are the most common reasons why people are continuing to sell homes whilst we continue to live in these uncertain times, and why a home sale can actually turn out to be a positive move.
Life still presents many different reasons why people need to sell their homes. Whatever the market conditions there is no need to wait if you need a quick sale. There are huge advantages to engaging a real estate agent that knows how to sell a house in both an upward or downward trending market.
Here are the six major reasons for achieving a quick home sale, and why these can present positive opportunities for you.
Now is an ideal time to upgrade, as you can buy a larger home for a more realistic price. So if your family is outgrowing your current home, or you have made or inherited a decent amount of money, the current market presents a good opportunity to move into a larger property.
If your children have left home, or you are about to retire and want to free up some equity, you should consider downsizing. This has several advantages:
• You can release equity to do the things you’ve always wanted to do, such as travelling or maybe helping your child onto the property ladder.
• You can move to a smaller home in the city if you’re tired of suburbia.
• You can enjoy more free time in a property which requires less maintenance.
What you do with your money is up to you, but in a slower housing market, there are plenty of bargains to be had.
Debt instigates a large number of property sales. Perhaps your home is now in negative equity, or you might have bought a property off the plan that you now can’t sell or rent. Additionally, lending conditions have become much tighter.
You can take advantage of the current climate by marketing your property at a lower price, making it more likely to sell.
More and more people are choosing to move to rural or coastal areas to enjoy a more environmentally friendly, slower-paced lifestyle (that perhaps also involves a career change). This gives you a whole new start. Another key advantage of moving out of the city is that house prices are more affordable than in major cities like Sydney, Canberra and Melbourne.
Sadly, this is one of the more common reasons for people needing to sell a house in any market. There is no better reason to move than to continue forward with your life and regain happiness.
This is the last of the D’s and something that is obviously difficult to predict. You might be interested to know that if you inherit property from a deceased relative or friend in Australia, you can avoid capital gains tax if you sell within two years.
If you know how to market a house for sale, the current cooler property market can work to your advantage. Whatever your circumstances, choose your agent wisely. The right agent will take the time to understand your position and know-how to generate interest in your house, so you can sell at the right time and the right price.
Have you been thinking of selling your home?
As you’re probably aware, the property market is less predictable during these times of economic uncertainty and the Coronavirus, and this often makes people worry about putting their homes on the market. However, selling a home in the current market can be a positive experience for a variety of reasons.
If you would like any help and advice, please get in touch.
