Selling your Home
In recent times, prospective real estate buyers in Sydney are seeing significantly more listings. This goes for a lot of suburbs in the area, particularly in Baulkham Hills. The latest update comes from a post on Switzer Daily, a publication specialising in financial expert advice.
The report reveals new figures from CoreLogic, one of Australia’s biggest property data and analytics companies, indicating that property listings are up at almost 17% in Sydney. Compared to the same time last year, the total advertised stock is now 13.3% higher. Note that this includes new listings and re-listings.
So why are more people putting up their homes on selling sites these days? Switzer Daily points out that the stock in 2016 was noticeably low. This proves to be a huge factor in pushing the growth of boom time upwards. “So, in effect, the extra stock we’re seeing this year is simply re-balancing the market. We’re nowhere near oversupply, with clearance rates remaining in the 70% range, which is a very healthy rate of sale.”
Should I Sell My Property Now?
When you feel that your home can no longer meet your everyday requirements, then it is high time to trade up your property for something better. Sometimes, it’s not the house’s fault. Maybe your needs have and will continue to evolve and you need a living space that gives you room for this transition.
For home buyers whose families are growing, they find that their first homes are now too small to accommodate their needs. Couples welcoming their second child often consider moving to a bigger place, perhaps one with two or three bedrooms. It could also be that the family wants to bring in a big dog but they live in an apartment. Looking for houses with a backyard where their kids and pets can freely play and run around in then becomes a priority.
Downsizing is another reason why people look to sell their homes. Families with empty nests—when all the kids are grown and have moved out—can feel like their home is now too big. If you are in the process of selling your own home, make the smart choice of paying cash for the new, smaller home and setting aside the rest for retirement funds. Once your youngest child has gone off to college, you can take the opportunity to hunt for a residence that’s easier to maintain and is better suited for a smaller household.
Moving closer to your centre of work means less time commuting and more time spent doing the things you enjoy. Baulkham Hills has seen a large industrial expansion with many businesses setting up satellite offices in the region, making setting down roots in the region very appealing for those who are commuting. Property prices have seen a rise in the region in recent years, making it the perfect time to sell.
Waking up each day in a home you enjoy is truly rewarding, and perhaps a recent work promotion, inheritance, or savvy saving can make that a reality. Maybe you settled for a house that was just enough to satisfy your needs. Many first-time owners make this decision out of necessity. But now you have the money to acquire the home of your dreams so you’re more excited than ever to enter the market again.
A word of advice though to everyone planning their next property purchase. Remember to factor in the costs involved in leaving your current home. If you have a lot to pack up and your new pad is a long way from where you are, save up for a professional moving service.
When selling your home, be prepared to shell out a little to tidy up your place and present it in such a way that it will entice buyers. Older homes will benefit from major renovations such as bathroom and kitchen remodeling while newer homes may only just need a paint job and other minor home improvements.
If you’re looking into how to sell your own home, partner with Trevor Leslie Real Estate. Contact our office on 02 9686 7999 to speak with a representative.