The market is strong but think local when you sell
When we try to follow the property market in the media, all we ever hear about are auction clearances and the prices being reached.
If there’s a boom, then pundits claim a bust just around the corner. We’ve heard this a thousand times but the information is too general to help you decide whether it’s a good time to upsize, downsize or buy your first home.
It’s important to shut out the noise and focus on your local area. Australia isn’t one huge market of boom-bust cycles but thousands of micro-markets in which property performs slightly differently.
Always speak to your favourite real estate agents (we hope that’s us!) before deciding whether the time is right to sell. We can give you the latest local sales results that relate to your style of home, buyer preferences and the best marketing strategies to maximise the value of your home.
Here are the issues that are worth your attention.
- Big decision: Selling your home is rarely a straightforward decision. The most important consideration should be your circumstances, not the state of the property market. If upsizing or downsizing makes sense for you right now, then do it. Don’t worry about the winds of fortune that blow across the sector.
- Set priorities: Focus on why you want to sell, and the type of home you’ll seek. Getting your strategy right always alleviates the stress that comes with such a large transaction.
- Do your research: Talk to your favourite agents about the local property scene and the demand for properties similar to yours. Also, pay attention to the areas where you’d like to purchase and the types of homes available.
- Line up your finances: Don’t start your search without a budget. Seek a pre-approved loan from your lender so you can move quickly when you find your dream home.
- Make a move: When you find your dream home, put in a realistic bid and leave yourself some headroom to increase your offer if there’s another buyer in the picture. Don’t low-ball because that strategy puts you at the back of the pack.