We can’t deny as a homeowner the importance and effectiveness that regular maintenance can do for a house. However, there comes a point that no matter what you do or how much money you are willing to spend, or the effort you make is investing in renovations, you won’t be able to make your house any better.
The signs will clearly be laid out to show you that it’s time to move on to a new property. In this article we’ll discuss these signs and if you’re wanting to sell head to our page to see how a property valuation will benefit you and your future financial positioning and any informed decisions you need to make.
Some simple but obvious signs that indicate it’s time to sell
1. New addition to the family
If you are planning on expanding your family and are currently living in a small apartment/home, you may require a bigger place with an extra room for your kids to grow and more places to play in as well.
An expanding family requires a bigger place and if your finances allow this, we suggest finding a new place and selling the property you are currently in.
If you are living in a home and have currently relocated for a new job and have a daily commute that feels like you’re constantly in a car. Then moving closer to your job may be a better option and this will ultimately save you money down the line in daily transport expenses
Renovations usually add value to a property, if you have spent a lot of time and money throughout the years to upgrade your home but still have not seen it benefit your lifestyle or value to the property. Speaking with a property valuer would be important to get advice on how you were to go about the money that was spent on upgrades and how this can reflect an increase in your value.
4. Emotional Attachment
Some homeowners, especially when it comes to retirement planning find it hard to let go of a property, because they have been there for years, grown old so to say. So, there is an emotional investment in the property. so instead of selling the property they would transfer it over to other family members, so it stays in the family.
If this is not the case, if the house was only purchased as an investment start up to flip then selling is the next step to move on to your next investment.
4. Market Conditions
Pay attention to the real estate market within your area, if you’re tossing between when to sell your property you can speak with a real estate agent or property valuer who will advise you on the property market and if it’s the right time to sell or not.
The market is ever-changing, and you have to be quick on your feet if you want to receive a good return on your investment.
How will a property valuation benefit me?
Defined as a process to calculate the value of a property. Required to be performed by a specialized property valuer with local knowledge and expertise of the market. These property valuers are specialized in various property types from residential, commercial business or plant and equipment purposes.
The valuer will conduct an investigation of the property and complete a comprehensive valuation report which is a certified legally binding document that will include all details and data analysis of the property to result in the true market value of the property either at a current date or a retrospective (backed date) time.
The value will also take into account
- Information of the property, including property type, use, size, and location
- Details of the property, such as its overall condition, materials used in construction, and fixtures and finishes
- Local market evidence from comparable properties, as well as the details of the properties assessment of the current market conditions
A property valuation is an essential tool for making informed decisions for any property-related purpose you may have, from buying, selling, or future financial investment planning.
These are a few simple signs to consider if you believe it’s time to sell your home. Having a home that suits your lifestyle and brings you comfort at the end of each day is a top priority to have in life, your home is your biggest asset so it’s important you know what decision is right for you as well as your financials for any future investments you wish to make.
Gerard Wilsher – LinkedIn Profile
Gerard Wilsher is an Associate Member of the Australian Property Institute and a Certified Practicing Valuer specializing across all property including residential, commercial, and industrial sites. Gerard is an expert in Sydney’s property market and his professional career in property valuation has led to a number of lecturing opportunities for educational conferences around Australia. With over 25 years’ experience, Gerard enjoys sharing his knowledge and expertise with his clients and the public.