Rejoice, Spring is here and the weather is finally changing which means we can look forward to balmy nights and colourful blooms.
It also means there will be an increased number of properties on the market for those considering an upgrade, downgrade or simply a change in scenery.
Who would want to sell their home in the current market?
It is often said that it’s doesn’t matter if you buy in peak or trough, what matters is how long you hold the property. For example, if you buy at the bottom of the market or top of the market and sell in the same cycle years later, you’ll be making a profit regardless.
There are some vendors that simply need to move this spring bringing you more opportunities to consider. These include:
- Families that have been in the same home for several years and need a change.
- Retirees with too much space that would rather sell and inject funds tax free into their super savings.
- Homeowners facing mortgage stress with interest only loans now converting to principle and interest.
- Banks that are wanting to recoup their lending with mortgagee in possession sales.
- Executors that need to finalize deceased estates to avoid tax ramifications.
- Those that are finding it daunting to carry out the much-needed renovations and would rather just buy a new home.
- Singles who are now married and want to start their life together.
- Expectant growing families that need more space.
Should you sell and buy?
Despite the cooling market conditions, there are two main reasons which suggest that Spring is the best time to sell and buy.
Why Sell?
It’s a known fact that a property’s value is determined by two forces – supply and demand.
So far, with the lending restrictions and completion of new developments, supply has exceeded demand leading to falling property prices.
However, research shows that there are a higher number of buyers in Spring compared to any other season. This means the demand for properties is set to increase.
Properties located in a well sought-after location such as:
- Close to schools,
- Close to public transport,
- With desirable features such as
- Low maintenance backyard,
- Swimming pool,
- Open plan kitchen,
- Bedroom downstairs,
- North to rear aspect
will always remain high in demand.
Provided you choose the right agent who adopts an appropriate marketing strategy and firmly negotiates with interested buyers, you can be assured of a great result.
Click here to see our recent record sales which have been achieved by carefully curated marketing campaign and tenacious negotiation skills.
Why Buy?
With new listings coming on the market, you’ll have a wider range of properties to consider. This means you’re more likely to find home of your dreams that ticks all of your boxes rather than having to compromise. This coupled with unsold properties already on the market that have had a price adjustment, will give you a huge selection to choose from.
However, sometimes too many options can also be confusing.
This is why it is important to have a clear understanding of your motives behind the move and note down your 3 non-negotiable features that the property must have.
Buyer assessment service
We offer a complimentary buyer assessment service where we visit you in the comfort of your own home to understand your objectives and provide advice and recommendations on properties matching your criteria.
As we also provide a finance broking service, we can calculate your borrowing capacity given the recent changes with the Royal Commission.
Click here to drop us a line and setup a consultation.
Getting top dollar for your home
In the famous words of Tom Panos, there are four things that determine the value of a home:
- The location
- The property’s presentation
- The agent you pick and
- The strategy they use
Out of these, you can control three – presentation, agent and strategy.
An agent’s job, when representing you in the sale of your home is to:
- Understand your objectives from the sale,
- Identify the type of buyer who would be interested in your property,
- Create a customized marketing plan to reach the targeted buyer and
- Set a reasonable asking price allowing you to be in a position to have five offers that you can reject than having no offers at all.
Although buyers have an upper hand in the current market conditions, a well-presented property, carefully curated marketing strategy coupled with a tenacious negotiation skills will allow you to get top dollar.
Given your home is your most prized possession, you want to go with an agent that will represent your property like their own. As a husband and wife team and family owned agency, we pride ourselves for going that extra mile and delivering great results.
Get in touch with us by clicking here if you or your friends or family are looking to make a move this spring.