A lot of money, time and emotional investment goes into our homes so the decision to sell rarely comes easy. However change is inevitable – in fact it’s good for us – but how can you tell if it’s the right time for you? We’ve put together a few tips to help – if you find yourself nodding while reading any of the following indicators, it might be time to pick up the phone and give a realtor a call:
INDICATOR 1: Little things annoy you
Some examples: When you first moved in you thought the split level from the lounge to the kitchen was a charming design feature – now its just a constant irritation. You delighted in your big back yard when the kids were little but now the endless maintenance is a tiresome chore. You no longer like the colour of the roof tiles and if you have to fix that leaky tap in the laundry one more time….
INDICATOR 2: You notice things you’ve never noticed before
Driving along you find your attention drawn to For Sale signs in people’s front yards. You flip to the real estate section of the paper before reading the news. Domain real estate is in your browser’s ‘Favourites’ folder, and for the first time ever you’re hanging on to those real estate flyers that turn up in the letterbox.
INDICATOR 3: You’ve got equity
Equity is any amount of money that will be left in your bank account after you sell your property and pay out what is left on your home loan. For example, if you bought your $400,000 home a number of years ago and have been making regular repayments, your mortgage balance might be $200,000. If your home is now valued at $500,000, then you have equity of $300,000. It’s the difference between what you still owe and the amount you can sell your property for.
If you can reasonably expect to sell your home for an amount that covers paying out the mortgage as well as selling costs without you needing to put your hand in your pocket, and you still have a little left over, then you’re in a good position to sell.
INDICATOR 4: You’ve become obsessed with Escape to the Country
Reality TV and Lifestyle programs like Escape to the Country, House Hunters and Escape from the City demand much more of your screen time than ever before. You invest in the people, carefully consider the pros and cons of each property, and place bets, in your mind, on which property will win the buyers over.
INDICATOR 5: Your home feels like it’s shrinking
If you find yourself squeezing past furniture and tripping over things on a regular basis, it might be time to think about moving. Sure you could do a Marie Kondi style clean-out, but sometimes you actually do just need more room, like when there’s another addition to the family or you take up a new hobby or sport
If any of the above sounds like you, you might be ready to sell your home. Contact one of our friendly staff members if you’d like an appraisal on your home.