Unless you’re an investor, selling your house when prices are high isn’t very alluring when you’ll likely have to pay that same premium to buy your new home. It is more about your personal circumstances, life stage, family size and changes. Here are five real signs that it’s time to sell-up and move on:
1. You’ve been flooded one too many times
Whether you’re on the ground floor unit of a block with dodgy plumbing, on the downside of the hill which lacks council drainage in heavy rain or are unfortunate enough to live on a floodplain (which wasn’t such an issue through the previous drought years) — it may be time to seek higher ground.
Repairing flood damage isn’t cheap — wet ground can cause slippage in the foundations, structural cracking, fertile conditions for pest infestations and obviously cause water damage to carpets, walls, appliances, furniture, house frames and electrical wiring. Repeating this repair process is costly, especially when you’re insurance premiums become too costly to service or if flood damage isn’t an inclusion.
2. You’re up for unavoidable structural repairs or renovations
If you don’t have the tolerance, time or money for essential renovations or structural repairs, selling could be an option. Repairs may be foreseeable or hidden. The hidden ones can be especially nasty, such as a body corporate without enough in the sinking fund to cover a major cost or the onset of concrete cancer or termites.
You only have to think of garage sales as to how one person’s trash is another person’s treasure. Don’t feel like you’re stuck with your lot. You can sell your burden to someone else, save money and gain some peace of mind. You only have to ask people in the industry how many buyers don’t get building or pest inspections before they buy to realise that dumping a dud asset is commonplace, and entirely possible.
4. You’ve outgrown your home
Is your house getting too cramped for your growing family size? Or are you now in a financial position to upgrade to a property type you’ve had your sights set on for some time?
Whatever the reason you’ve outgrown your home, it may be time to upgrade. If you can afford to make the move now, it is worth considering — especially given the speed at which house prices can grow in this country. Put off the decision for your dream upgrade now, and you may look back and think of how much better value the purchase was when you’d first made your plan.
5. You’ve got the neighbours from hell
Is your neighbour waging a war of attrition against you? There are more sneaky ways to get under someone’s skin than there are to resolve a neighbourhood conflict. Court cases and police reports are both a massive drain which often don’t solve the root problem. Unless you’ve got tear-droplet tattoos on your face, you’re probably not fit to silence an unruly neighbour. It’s time to move, and quickly.
Identifying the signs to sell are crucial if you’re going to make the right home buying decisions. A combination of strategy and thought could see you far better off for the decision.
Read More: http://advice.realestateview.com.au/selling
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