It’s a fantastic time to sell your home right now – all the economic indicators that drive the value of property are in your favour.
Buyers are literally fighting over homes thanks to cheap mortgage rates, reduced numbers of properties on the market and increasing economic confidence as we roll out the COVID vaccines.
As an experienced local agent, I know many owners who have sold for prices way above what they expected. That’s because they’ve met two of the biggest buyer current demands by adding a home office or creating a modern kitchen.
Many owners used equity in their mortgage to finance these remodelling projects and made good money from the investments.
But if you want to make the most of this boom, you need to move quickly. Heated markets don’t last forever, and Australia is not one giant housing market but thousands of micro-markets. If you’d like to understand how our local market is performing, please reach out.
In the meantime, here are five actions you might take before putting your home up for sale.
- Talk to your favourite local agent about the supply of properties coming on to the market in your neighbourhood. If they say supply is tight, this is good news for you. Weak supply should mean strong prices and quick sales.
- Find out recent sale prices for homes similar to yours. This way, you’re going to get a sense of your financial position once the deal is done.
- Get advice from your agent on fast and easy home improvements that will boost the value but not delay the time it takes to put your home on the market. I’d be happy to help in this regard.
- Be clear on the location and type of home you want next. Check-out price trends for your desired property and be confident it’s still within reach.
- Have your finances ready. In a hot market, you’ll probably need to move quickly against other prospective buyers to secure a new home.
Article courtesy of Active Pipe