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Thinking About Selling

 

 

Buying and selling real estate is not something that people do every day and the process can be a stressful and confusing experience if you are not adequately prepared. There are a number of important factors to be considered and this guide offers some advice to ensure your sale will be as enjoyable and successful as possible.

 

 

  • Think about your motivations for moving, what are your short term and long term property goals?
  • Do some research into the types of properties and areas you're interested in moving to.
  • Talk to some local agents about what is happening in the market your home is situated.
  • Visit some local open house inspections of properties similar to yours.

 

 

 

When to Sell?

 

The timing of a sale is certainly an important factor in achieving the best possible sales result for your property. Many people believe that the right time to sell is always when the market is strong, but the reality is that the right time to sell really comes down to individual circumstances. There are purchasers searching for quality properties all year round and in varied market conditions, so when you put your property on the market really depends on your goals for the sales process.

 

 

If the market is strong you can expect to maximise the sale price of your property, however if you are planning to purchase another property in similar market conditions you can also expect to pay more to for your new home. Similarly, if you sell your property in a weak market you may not get as much money for your home but you can expect to pay less for your new home.

 

 

Local variables may be the most important consideration of when to put your property on the market. Discussing these variables with local agents can help you better understand suitable times to maximise your sales outcome. In the Oatlands area, for example, demand for family homes is often driven by the local schools. Therefore it may be unwise to market your property during school holiday periods when many potential buyers may be temporarily out of the market.

 

 

In the end it all comes down to the timing that best suits you. If you need to make a move rest assured there will be purchasers for your property all year round provided it is priced correctly to the market.

 

 

 

Buy or Sell First?

 

 If you are planning on moving to a new home it is also worth considering if you sell prior to buying or buy prior to selling, both have their advantages and disadvantages.

 

 

Buying first means that you can wait for that perfect property to come along before committing to the purchase, however this may put time constraints on the sale of your home that make the process increasingly stressful and may prevent you from maximising your sale result. Conversely, selling first means you can set a realistic budget for the purchase of your new home but your settlement period may put pressure on finding a new property. There are also more flexible options available, such as renting for a period after the sale of your property.

 

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