Is It Time To Sell? How To Decide!
Is it best to wait until Brexit is done and dusted? (Good luck with that one!). Should it be this side of Christmas or is it better to wait until the New Year? Spring? After the Summer perhaps?
Whatever the reason for moving house: job relocation, a better school catchment area, divorce, a growing family or a yearning for a completely new way of life - sooner or later it comes to us all.
Moving house is certainly not for the fainthearted or something that should be considered on a whim. Although it can be tremendously exciting it can also be incredibly stressful; up there with death and divorce on the 'stress-o-meter.' Factors such as a new job, a different school, divorce, death, marriage, new baby or kids or leaving home could mean you're on the move (regardless of the time of year, financial climate or political landscape). The average person moves house every 7 years which could mean as many as 8 moves over your lifetime. That's why it's so important to get it right.
SHOULD I STAY OR SHOULD I GO?
If you find yourself wishing you had more space, an additional bedroom, an en-suite, a study or a soundproof annex for the drum kit, it might be that you have outgrown your home. Maybe you've found yourself idly scrolling through Rightmove, doodling extensions on the back of a shopping list or trying to work out whether the loft could house the bedroom of your dreams. If so, it might be time you scratched that 'moving' itch.
It could be that you're dreaming of being somewhere new with a different sort of lifestyle or of bringing up your children in a village instead of a city. Maybe your eldest child is coming up to secondary school age but your house is just outside the catchment for the 'Outstanding' school? You might be an empty-nester, rattling around in the family home now that the children have moved out. Lots of empty rooms means more cleaning to do and bigger heating bills in winter! Is this the moment to sell up and downsize?
Families, lifestyle and priorities change and choosing the right time to move isn't always easy, but we're here to help.
THINGS TO CONSIDER
Firstly, is this a snap decision or something you've been thinking/dreaming about for a while? Has there been a 'trigger moment' in your life that's started you thinking? Maybe you've just had the whole family round and realised the house is just too small? Or maybe you've realised you need to downsize to give you an excuse NOT to have the family round again!
Secondly, have you considered just how much disruption moving house will cause? Will you have to find new schools? Will it be more expensive/cheaper to get to work? What if the timing isn't right? If you are thinking of swapping town or city life for the rural idyll, have you considered the absence of Uber or your favourite Lebanese restaurant?
Finally, are you emotionally ready to sell, or to leave a home crammed-full of memories? Is your motivating factor strong enough? Is moving house a long-held dream or more of a whim?
TIME TO MAKE A LIST
This is the time to draw up an old-fashioned list of Pros and Cons (particularly useful for those on a whim) taking into account REASON and TIMING.
So, what should your list look like? Well, for starters, you might be empty nesters weighing up the options after your kids have left home. Should you downsize? If so, should you consider moving to a smaller home and investing in a second weekend property, or holiday home where you could spend more months of the year?
Another item on that list should be children. If you already have children, or are planning to start a family in the next five years, it will impact where you decide to live. Is it a good neighbourhood? What is the community like? Are there other young families in the area? Are the local schools good? Is there a safe and secure garden to play in? Will I be able to walk to the shops or will I have to go everywhere by car?
If children are part of the equation then that swanky penthouse apartment you've got your eye on won't seem like such a cool idea when trying to manhandle a buggy into the lift or entertain sticky-fingered toddlers without a safe outdoor space. The important thing is to be prepared, and take your time.
PUT THE WORK IN
If you're planning to sell your house, be prepared to put the work in and don't underestimate how much work it will entail. After all, the level of commitment needed to keep your home in a permanent state of viewing-readiness (for weeks or even months) is massive. Ensure you give yourself enough time to get your house looking its best; fix those paint chips and that leaky tap. If you've got any big work commitments or family events, like a wedding or christening coming up, make sure they don't detract from the business at hand.
WHAT TIME OF YEAR?
Most estate agents will tell you that 'any time of year is a good time to sell' however, some months are definitely better than others and, if you can afford to wait, so much the better.
Spring is widely acknowledged as the best time of year to sell but there are pros and cons. The longer days and warmer weather mean more house hunters but there will be more houses on the market which, in turn, means more competition. On the plus side, people tend to be in a much sunnier frame of mind and your home will look fabulous as the garden comes into bloom. Photos are super-important when selling your home and are going to look especially bright and sparkly in the Spring. According to our photographer, the light is at it's very best in the month of May.
When thinking about timing - consider who your house will appeal to. For instance, if you have a family home, avoid putting it on the market during the summer months, particularly August, as most families are on holiday at that time. However, if you can get your home on the market early enough in the summer, you may well see very motivated family buyers who need to move before the start of the new school year. At Stowhill Estates we usually see more houses complete their sales in August than in any other month.
Winter can be a trickier time to sell, although with the right styling and specialist photography such as twilight images, homes can look magical with a sprinkling of frost on the ground and rooms lit by twinkling candlelight. Winter is not a great time to sell retirement homes or bungalows as older buyers don't typically like to go out house hunting in colder weather. However, Rightmove say that Boxing Day is the busiest day for buyers looking online - perhaps because they have just spent Christmas with their families and have realised, they need more room!
Autumn can be a great time to sell, especially if the weather is mild, your home is still looking good and there are not major holidays to contend with. September sees a 'mini boom' of new homes going onto the market as people are very motivated to find a new house and move before Christmas.
WHAT DAY OF THE WEEK?
Getting down to the nitty-gritty - according to a Which? report published in 2017, Monday is the best day to list your house for sale. Houses listed for sale on a Monday take an average 176 days to sell, compared to 191 days for Tuesday-Friday.
The worst days to list a house for sale are Saturdays and Sundays, both taking over 200 days to sell if listed at the weekend.
If you're considering moving house but just don't know if it's the right time for you right now, we're here to help. Just pick up the phone and call us on 01235 751 888 and we'll chat you through the pros and cons of a house move and whether it's the right time for you!
Is It Time To Sell? How To Decide!
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