Deciding when to sell your house is a big deal, and a decision most people will make only a few times. So what are the signs that it’s time to sell your property? Here are our top five tips for when to list your property for sale:
1. Your family doesn’t fit in it anymore
It was the perfect pad when it was just for two. Perhaps it was even great with a baby or a couple of kids under the age of five. But the kids are starting to want their own rooms, and everything is piling up because there’s not enough space for the toys, keyboard, bikes, and the treadmill. If your home no longer accommodates your family, pets or hobbies comfortably, it’s time to move on and upsize to somewhere with more room.
2. Your neighbour sold recently and made a lot of cash
If you’ve had a poke around the real estate sold prices listed for your area and been surprised to see the amounts some of your neighbours are getting for their properties, it may be time to sell. It’s always worth keeping an eye on the local real estate prices to have your finger on the pulse of the local neighbourhood.If you happen to live in a growth suburb, you might be well placed to put your home on the market.
We’ve made it easy to see how properties in your area are faring with a free online property report. This report pulls on recent and historical sales data in your suburb, so you can get a good feel for what your neigbours have managed in their sale.
3. Interest rates are low
When interest rates are low, as they are currently in Australia, the lower mortgage repayments bring more potential buyers into the pool, which is highly beneficial to the vendor. This will be especially true if you’re selling a great first home or investment property, as these are the people who are looking for bargains and trying to get a foot on the property ladder. Plus, when you buy your next house and negotiate a mortgage on your new property, you will be benefiting from lower rates too.
4. The market is showing signs of slowing down
Another reason to sell is to take advantage of a property boom before it inevitably slows. If you’ve seen news reports about potential property crashes or slower growth in the market, it might be a good idea to sell sooner rather than later. If you can, sell your house as prices slow – and benefit from a quieter market when buying your next property.
5. Your gut is telling you it’s time
Sometimes there’s nothing logical about choosing the right time to sell a property – sometimes you just know. Perhaps you keep drifting to the real estate section of the paper, or checking out houses as you drive around your city. To ensure that your gut is on the right track, speak to a knowledgeable real estate agent who can show you how to sell property so that you get the best price for the lowest real estate fees. Talk to one of our experienced property agents today to find out what your home could be worth.