Before you sell or purchase a new property, make sure to read the handy guide listed below in order to ensure that the process goes as smoothly as possible!
Things to consider when selling/buying a new property:
1. Whether it is the right time to purchase or sell a property
If you’re interested in selling a property, you should aim to sell your property when you’re likely to get a competitive price for your property. As if you sell your property at the wrong time you may lose out on tens of thousands of dollars.
However if you’re in the market to purchase a property, you may want to look to purchase a property when property prices are low. As you’ll be able to get more value for money and may be able to purchase a larger or newer home than you would if property prices were significantly higher.
2. How soon you would like to sell your current property and move to a new property
If there’s no hurry to move, you will be able to take your time in order to select the perfect property for your needs. However, if you’re shifting for work and need to sell your home quickly and to purchase a new home, in your new location as soon as possible, you may need to compromise on your asking price for your current home and some of the details of your next property.
If you do need to move in a hurry, it’s also well worth carefully choosing a dedicated, professional real estate agent who’ll be able to find the right buyer for your current property and who will be able to locate a new home for your family, that you’ll love.
3. What you’d like in a new property, that your current property doesn’t offer
It’s also worth contemplating the parts of your current home that you’re unhappy with so that you’ll be able to purchase a new property which better suits your family. As an example, if your current property doesn’t offer a spacious, open planned living room and dining room, you may want to tell your real estate agent that you’d like your new property to feature a functional, open planned living and dining room.
4. Your budget
You’ll also have to come up with a realistic budget if you’re looking to acquire a new property. You are making a financial investment, but you must make it within your means. Depending on your individual circumstances your budget for purchasing a new property may be dependent on the price which you sell your current property.
As an example, if your current property sells for a higher price than you list your property, you may have the capital to purchase a grander property than you first imagined. While if your current property sells for less than your asking price, you may have to scale back your budget for your new home.
5. Which real estate agent to pick
Whether you’re buying or selling a home or are looking to do both, it’s well worth carefully selecting a real estate agent with an established, positive reputation.
So if you’re looking to buy or sell property, it’s well worth using this handy guide and even checking out conveyancing online for any additional help in order to ensure that selling and buying property is as simple and straightforward as possible.