To move, or not to move is often the question that homeowners struggle with. This is particularly if they have a growing family or if they are an older couple with an empty nest, according to the Seeff Property Group.
Seeff said that homeowners are often approached by estate agents asking if they want to sell, usually because there is a demand for homes in the area for various reason like it has good schools for younger families.
“By not selling, the homeowner may be losing out on a good price, and the opportunity to create a more fulfilling life in the golden years,” Seeff said.
Why are you selling your home?
Selling property is a life-changing decision, therefore Seeff offers some of the reasons why you should consider selling:
Empty nesters
If your children are out of the house and you are left with a big and empty house, then it may be time to scale down.
Seeff said that moving out of a big family home to a smaller home is sometimes just the lifestyle change that older people need.
“It will generally also free up some cash to take a trip of a lifetime, or enjoy a better quality lifestyle,” Seeff said.
Better access to schools
If you have children in school and have to commute long distances in heavy traffic, it could be more cost effective in terms of time and cost to move to an area that has easier access to schools.
Seeff said: “Young people looking to start a family should factor schools into their buying decision as it could save the hassle of having to sell and move elsewhere later on.”
Moving closer to work
Another headache may be the daily commutes to and from work, especially with the traffic problems.
Better access to main arterials could be a solution for some while other people may benefit from actually moving closer to their place of work.
Is it time to upsize?
If you are a growing family, or if you have a parent moving in, it might be time to move to a bigger home.
“For some, a better job or salary increase could also offer the opportunity to move to a bigger home, or a better neighbourhood,” Seeff said.
“Rather than expanding and renovating, it might actually make sense to rather move to a bigger home.”
Should we downsize?
There is a growing trend of downsizing towards a simpler lifestyle has led to some people to trade their big suburban home for a more compact apartment.
Often, these homes mean a cut down on maintenance, more security, and a better quality lifestyle.
Should we move to the country, or an estate?
Sometimes younger families are looking for a small country town that are looking for a good environment to raise their children.
On the other hand, older people may look to get away from the busy cities to a quieter country or seaside town.
“Estates have become a sought-after alternative as they often offer lifestyle benefits, and security, yet still with good access to the city,” Seeff said.
Selling it for the right price
If you are looking to sell your home it is essential that you put it on the market for the right price.
According to Grant Smee, Managing Director, Only Realty Property Group, the sale of a home almost always comes down to the price, especially in a buyer’s market.
“When it comes time to set the price, make sure that it’s market related. Remember, that buyers will almost always (except in a case where there are multiple offers) try to offer a lower price, so be sure to take this into account,” Smee said.
“Clearly communicate your lowest price to your agent so that they know upfront and can work with the potential buyer to negotiate.”
Smee said that it is crucial to factor in additional costs which could hamper the sale such as levies.
Smee said: “We are seeing many properties with levies upwards of R5,000 per month, and while these are imperative to the upkeep of the property, they can also be viewed as a further cost by buyers.”
It is vital that homeowners chat to an agent to ensure that they have a clear point-of-view and a strong argument for this.
IOL Property
