Amid interest rates remaining on hold, settling clearance rates and fewer properties coming to market, it is imperative to consider what time is right to sell.

12/04/2024 11:07am

It’s never an easy choice to make, deciding to sell your property is a significant decision that requires careful consideration.
But by evaluating a few key factors, homeowners can make informed decisions that align with their financial and personal goals.
Five factors to help homeowners decide if the time is right for them:
1. Market conditions: Be observant in analysing current market trends in your area. Market trends include whether property prices may be rising or falling locally or how levels of demand and supply are fluctuating.
In keeping an ear to the proverbial ground of the market, a homeowner can take notice of favourable market conditions and capitalise on them for the best possible return.
2. Equity growth: Homeowners should also consider the equity that they have built into their property.
Through keeping abreast of ever-changing market conditions, particularly the degree to which a property may have appreciated since initially purchasing it, selling at opportune times can yield a significant return on investment.
3. Life changes: In conjunction with evaluating market conditions, homeowners should give thought to significant life changes which may necessitate the sale of one’s property.
Whether this may be starting a new job or career path, growing one’s family or a desire to downsize altogether, selling one’s current home can be advantageous in enabling an individual to adapt to evolving lifestyle circumstances.
4. Financial goals: Particularly when discussing assets as valuable as a property, a homeowner should always take a step back to holistically review their financial objectives and determine how selling their property aligns with these goals.
In aiming to reduce debt, invest into other assets or upgrade to a larger property, selling an existing property can be a critical first step in achieving these financial goals.
5. Emotional readiness: Although this step can frequently be forgotten among the bigger picture, it is integral to contemplate whether an owner is emotionally prepared to part ways with a property and usher in a new chapter of life.
Only through taking the time to assess and understand attachment to a property can someone decide on whether it is ultimately best to move forward in selling.
In addition to these tips, the emphasis should be on the value of planning ahead and drawing advice from a team of experts well versed in the financial, legal and property sectors.
The right agent will guide you through the process and provide honest feedback on your specific circumstances.
Please contact Smallacombe Real Estate’s experienced team for advice.  We have a depth of real estate knowledge, exceptional negotiation skills, and a friendly, personal touch ~ the essence of Smallacombe Know.How.
It’s this Know.How. that will give you the best experience in real estate.

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