Sell my house. net.au

Should I Sell My House

The biggest reason for selling a house is a major change in circumstances.  Perhaps you or your partner are no longer working. Perhaps you need to upsize, or downsize or crave a different climate or lifestyle.

Whatever the reason, and as with any big decision, research and guided thinking is the key.

The first step is to understand how you feel right now. If you feel tired, stressed or weighed down consider leaving the decision making for a day or two – or take some kind of action that will put you in a positive frame of mind. Of course, this is not always possible, but you will find it is a lot more constructive.

A large majority of home owners will have bought a house with a partner. If this is true for you, it is important to first discuss how you each feel about where you are and where you would like to be. Make sure you are both on the same page before you decide either way.

To start you may want to list why you are contemplating selling your house. Find a large blank piece of paper and begin brainstorming. Why not begin with how you feel? For example:  

 Financial:

I feel we can no longer afford this home

I feel we can afford a better home

I believe there are better jobs elsewhere

Lifestyle:

I’d prefer to live on the coast

I’d prefer to live closer to my family

I need to live closer to the hospital

Something else to consider is what you want in a home. On that same sheet of paper, draw a line down the middle and write things you want on one side of the line and things you need on the other. For example:

 3 to 4 bedrooms – north facing – room for a garden – in the city – ground level, etc

Write everything you can think of no matter if it makes sense right now or not, because through this process, the things that you don’t want to compromise on will reveal themselves. You will then have a very good idea of what you want and perhaps more importantly what you DON’T want.

Now you’re going to transfer your top 10 to 15 wants and needs into a table. To ensure your priorities are sequenced correctly, make sure to begin with your needs before starting on your wants.  

Once you’ve done that, note or tick off whether or not your current house has those things.

If you do decide to sell, this list will save you time looking at properties that don’t include your top 10 requirements.

Your table might look something like this: 

 Money & Market

Once you have agreed on your reasons for selling or staying and come up with at least 10 requirements you need and want your home to include, you can begin the next decision making stage. That is: ‘What is your financial position’ and ‘is it a good time to sell right now?’

Of course, you will need to do your numbers and decide if you can afford to stay – or if you move how much you can afford to invest in the next home. Talking to your lender is a good place to start, although because there may be tax implications or other money matters you may not have thought of, it might be wise to consider seeking the help of a reputable financial advisor.

Another consideration is the market. Are there plenty of buyers around? Has the market just taken a plunge or is it on its way up?  What is the market forecast for the next six months? What price is your house likely to attract, really?

All these questions can be answered in two ways. One is to speak to your local estate agents and ask them about the state of the market. Ask them how many homes like yours they’ve sold lately – what was the starting price and what did they actually sell for?

The other is to take a look around yourself. Are there a lot of houses on the market in your area? You can do this by going out and touring around, or looking at real estate sites online that allow you to segment your market and check what properties like yours are selling for.

And take a trip around the area you’re thinking of moving to, speak to the estate agents and take a look around and noting down the pros and cons of the market there.

Once you know you and your property partner agree, you have pinned down your reasons for selling and you are clear about what you want from your next property, you are ready for the next stage: Whether to find an agent, or sell privately.