Five signs it’s time to sell your property

It’s usually a combination of reasons that will see you considering selling up.

Here are five signs that might just indicate it’s time to list your property.

1. You’ve outgrown your residence

It’s not surprising that many outgrow their homes and if yours doesn’t suit your needs then it may be time to sell. Whether you’ve outgrown it by having children or your children moving out, you’ll find that downgrading or upgrading can help.

2. Upkeep costs rising

It can be costly to maintain a home, particularly when the home is older. These ever increasing costs can be a signal that it’s time to move on.

If the rectification work required doesn’t help improve the re-sale value then selling is an option. This also applies to apartments where strata fees and levies continue to increase.

3. Financial shifts

Financial circumstances change and if you’re feeling the pinch or have more money in your wallet than you’d expected, then you may want to consider selling your home to upgrade or downsize.

Your property may have increased in value to the point where it’s worthwhile using the capital gain to your advantage to assist you with financial changes.

4. Changing location

When you bought your home, the area was likely different to the present. This may be for the better, however there is the possibility your suburb no longer offers what you want.

As areas gentrify, you may look for somewhere quieter or more suitable for families. You may dislike your street or neighbours, or know that high density development will be surrounding your home within an ever shortening time period.

5. Hot property market

It’s also worth considering where the property market is in its cycle. Homeowners in suburbs that have seen a run up in prices may want to consider selling to make the most of it before a possible slow down. A hot market may be a good sign that now is the time to sell and make the most of buyer competition.

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