February 11, 2020

Six signs you’re ready to sell

To sell, or not to sell? It’s a bit of a tricky property question and one many people grapple with when it comes to picking the right time, seizing opportunity and taking the next step in life.

So, if you’re pondering whether now’s the right moment to up-size, downsize or simply make the shift, here are six signs you’re ready to sell your property…

Equity is on your side

Property is one part emotion and one part pure economics. But if you have built positive equity in a property, it could mean you’re ready to sell.

As is frequently noted, the property game is a ladder where you start on the lower rungs and steadily step your way up.

Positive equity allows you to launch to the next stage in the property journey, attaining something bigger, better or more suited to your needs.

The market is in your favour

The market is a major component of the property game and right about now there’s a lot of positivity afoot.

As most people are aware, the property market tends to work in cycles that are affected by all sorts of external factors. These include interest rates, demand, lending conditions, and general confidence.

At present, sentiment across all these is pretty positive, so if you’re in an area where properties are selling quickly, achieving good prices and are quickly being snapped up, it’s a sign that the time to act has come.

You’ve outgrown your home

As much as property is a game, it’s also based on personal circumstances driven by whether your home suits your lifestyle.

If you’re busting at the seams, have a new addition to your family, need a larger backyard, a pool or to be closer to better school catchment zones, it’s time to consider selling.

You’re ready to downsize

Just as life might deliver circumstances where you need more space, there comes a time where less might also be desirable.

That sees empty nesters and retirees reach a point where it’s time to consider selling. These days downsizing may not necessarily mean you have less room to live, but the property better suits your aims in life – like less maintenance, or the ability to lock and leave.

Renovating doesn’t cut it

In any property there comes a point where further renovations aren’t practical or would simply see your overcapitalising.

When this point is reached, it often makes better sense to look for a new home rather than to keep adding to the one you have.

The location no longer suits your needs

Whether you need to move for work or family reasons, find the countryside no longer suits or the city is too busy, location will always be a major factor in where you live.

In fact, relocating is a prime reason many feel compelled to sell, but even within a region, a new location may suit you better than your current, one depending on your stage of life.

You might need to be closer to amenities like hospitals, schools, public transport or your workplace. Or you may crave the quieter life with a little more space to call your own.