Are you truly ready to sell your home?

Making the
final decision to sell your home is not easy and many people make it only a few
times in their life. You do need to consider the housing market condition, but
there are also aspects of your personal situation that matter. It’s best you do
the research, rely on expert advice and make a thoughtful final choice, because
if you sell your home at the wrong time, it may make things difficult for years
to come. Here are several signs that indicate you’re ready to make a sale.

You’re debt-free

If you didn’t
have your finances in order the first time you were home shopping, you probably
learned a hard lesson. Usually when things can go wrong, they do! This time
round, make sure you settle your finances in time and have at least three to
six months of expenses saved up and no mortgage debts. If you manage this, it’s
a clear sign you are financially mature and ready to buy your next home.

You can afford a better
home

Family situations constantly change and maybe your kids have left home and you’re now ready to downsize, or you can finally afford to upsize and buy that beachfront property you’ve always dreamed of. Whatever the reason may be, makes sure your budget can cover your new mortgage so you can afford the purchase. Experts advise to keep your monthly payments to at least 25% or less of your net income on a 15-year fixed rate mortgage.

You can invest in sprucing
things up

It’s very
easy to get excited about moving to a new home that you forget about the cost
of leaving your current one. In addition to covering the costs of professional
movers, you need to set aside a certain amount of money in order to get your
home ready for sale. Positive first impressions with the potential buyers can
push your sale income by at least 10% and as property
styling trends in Sydney
  demonstrate, the focus is on
creating a homely feel in the living room, bathroom, kitchen and the overall
inviting feel of the home.

You’re emotionally ready

It’s
important to be financially prepared for selling your home, but it’s equally
important to have your heart in the right place, as this is also an emotional event.
Before you make your final decision, ask yourself if you’re ready to invest
time, money and effort into getting the home ready for prospective buyers and
negotiate with them, if you’re determined to see it through as long as it takes
and if you can pack up and leave behind the place that holds many warm
memories.

You need to
be 100% sure that selling your home is what you want, so make sure have a
serious talk with an expert who can give you a detailed picture of how it all goes
and possibly give you an estimate if you’re ready, both emotionally and
financially.

You understand the market

One more
reason to sell your home now is to take advantage of a property growth before
it inevitably slows down. If there have been reports of potential slower
growth, it’s a clever idea to sell now rather than later. Selling your home
when the prices are slow will allow you to benefit from a quieter market when
you decide to buy your next home.

Also, with the current low interest rates in
Australia
,
the lower mortgage repayments attract more potential buyers, especially if
you’re selling a great first home or an excellent investment property.
Moreover, when you proceed to buy your next home and you need to negotiate a
new mortgage, you’ll have benefits from lower rates as well.

You have found a reliable real
estate agent

It’s
crucial you consult an experienced real estate agent who is familiar with the
current state of the housing market, so you can decide if the sale of your home
is the best financial decision for your family at the moment. Cooperate with a
professional you can trust to offer you the best and honest advice regarding
your budget and someone who will prioritize high quality service over a mere
sale.

A good real
estate agent is a big plus for you as they are key in getting you the best deal
possible. They don’t only organise open door days, but they also handle all the
necessary documentation, help you determine the price, market your home so it
gets as much exposure as possible and offer valuable expert advice.

Make sure
you follow these tips as selling your home is a serious move and you shouldn’t
rush into it.

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