Moving house is a major life change. The process has many steps, including packing, transporting your belongings to the new place and unpacking them again. It also involves time-consuming paperwork and visits to estate agents. This means that if you’re not careful, you could end up wasting money on an expensive project. So when is the right time to sell?
You might want to consider selling your home if:
- You've recently changed jobs or started a new business
- You want to move for family reasons, such as retirement or being closer to grown-up children or grandchildren
- You're moving so that your children can go somewhere better suited for their education needs
- You're moving because you're downsizing
- You don't spend enough time at your property
Moving house can be a difficult decision. It's a major life change, after all. But you don't want to stay in a house that doesn't suit you or your family any longer, either. So when is the right time to sell? There are a few reasons you might want to consider selling your home and moving on:
- You've recently changed jobs or started a new business
- You're moving for family reasons, such as retirement or being closer to grown-up children or grandchildren
- You're downsizing
- You don't spend enough time at your property
Ultimately, the right time will be different for everyone. The key is to do your research so you know when it makes sense for YOU.
Moving house is a major life change and it's important to be aware of all the changes that come with the process. If you're not careful, you could end up wasting money on an expensive project. If you're considering selling your home and wondering when is the right time to sell, there are a few signs to look out for:
- You've recently changed jobs or started a new business
- You want to move for family reasons, such as retirement or being closer to grown-up children or grandchildren
- You're moving so that your children can go somewhere better suited for their education needs
- You're moving because you're downsizing
- You don't spend enough time at your property
Finding a new place to live can put a strain on your finances. There are certain costs you'll have to pay for, such as estate agent fees and stamp duty. However, if you put your house up for sale before the move, it could help take some of the financial strain off of you. You might be able to get a better price for your property if you sell it before the move.
You should also consider what will happen with the deposit. If you’ve already handed over your current deposit to a landlord, then it may be smarter to keep renting until you find a new home that meets all your requirements; however, there are always exceptions to every rule.
When you move, it's also worth considering where you're moving to.
Some areas of the country are more expensive than others. This could make a huge difference to your property value and mean that you get a better price for it in a more expensive area. It's important to consider how much time you spend at your property, too. If your home is empty most of the time then this might be because you haven't had any reason to move before now. You'll need to decide if this is something that will continue once you've moved house or not.
If you're considering selling your house, these are some things to think about before deciding on when is the right time to sell and where.
The best way to ensure that you're not wasting any money is to plan ahead.
- You should take some time to review your finances and decide how much you can afford to spend on the move
- Look for reputable solicitors who will help you with the paperwork
- Plan a realistic budget for all of the expenses involved in moving house
- Consider whether there are any home improvements that need doing before moving day, such as painting or decorating, repairing, or replacing broken items
- Decide how long you want to live at your new property before selling it again
Selling a house is a long process of getting it ready for sale, finding the right buyer and negotiating on price. There are many steps in this process which can be costly as you need to get your home in perfect condition for showings. If you're not careful, you could end up paying for expensive renovations that weren't necessary or weren't even required. In fact, you might want to consider selling your home if:
- You've recently changed jobs or started a new business
- You want to move for family reasons, such as retirement or being closer to grown-up children or grandchildren
- You're moving so that your children can go somewhere better suited for their education needs
- You're moving because you're downsizing
- You don't spend enough time at your property
There are many reasons why you might want to sell your home and move somewhere new. The right time to sell your property will depend on your individual circumstance. One thing you should consider is the timeline for selling a house. It's important to get an idea of how long it will take you to pack up, transport and unpack all of your belongings at the new property. You should also consider what stage of the estate agent's selling process you'll be in when it comes time to leave the old house. For example, if you're looking to buy soon after selling, it could be worth waiting a little longer before putting your house on the market. There are various stages in the timeline for a sale, including:
- Putting the property up for sale
- Marketing the property
- Showing prospective buyers around
- Negotiating a sale
- The sale and purchase agreement has been signed
- The contract has expired and possession is transferred to purchaser
The cost of selling a house can vary dramatically depending on the market and how you go about it. But some things are more or less fixed costs, such as estate agent fees.
- Estate agents usually charge a commission of around 3% - 6%. So if you sold your property for £200,000, you'd have to pay up to £6,000 in estate agent fees.
- Stamp duty is also payable on any property sales over £125,000. Stamp duty varies from country to country but in England and Wales it's now charged at 0% for the first £125,000 and 2% for the portion between £125,001 and £250,000. For properties worth more than £250,00 people have to pay 3%.
- You might be able to reduce the cost of selling your property by doing some preparation work before you contact an estate agent. That will remove some of their workload which should mean they’re willing to lower their fee.
The decision to sell your home is a big one. Once you've reached the decision to sell, you'll have to consider your finances and look at your moving plans. You'll also need to prepare for the process of selling your house and the timeline for going through with the sale. And don't forget about the costs of selling your home, which can vary depending on where you are in the process.
When should you sell? The answer to that question can vary depending on your personal situation. But before you start looking for a new place, take some time to consider if you're ready to move. Once you know that, it will be a lot easier to decide when it's time to sell.
