Here are the most common reasons why people continue to sell homes, regardless of the economy or interest rates, and why a home sale can actually turn out to be a positive move.
Why is the property market always active?
Life always presents many different reasons why people need to sell their homes. Whatever the market conditions are, there is no need to wait if you need a quick sale. There are huge advantages to engaging a real estate agent who knows how to sell a house in an upward or downward-trending market.
What are the main reasons for home sales?
Here are the six reasons for achieving a quick home sale and why these can present positive opportunities for you.
1. Doubling up
Now is an ideal time to upgrade, as you can buy a larger home for a more realistic price. So, if your family is outgrowing your current home, or you have made or inherited a decent amount of money, the current market presents a good opportunity to move into a larger property.
2. Downsizing
If your children have left home or you are about to retire and want to free up some equity, consider downsizing. This has several advantages:
You can release equity to do the things you’ve always wanted to do, such as travelling or maybe helping your child onto the property ladder.
You can move to a smaller home in the city if you’re tired of suburbia.
You can enjoy more free time in a property that requires less maintenance.
What you do with your money is up to you, but in a slower housing market, there are plenty of bargains to be had.
3. Debt
Debt instigates a large number of property sales. Perhaps your home is now in negative equity, or you may have bought a property off the plan that you can no longer sell or rent, perhaps because lending conditions have become much tighter.
You can capitalise on the current market by marketing your property at a lower price, making it more likely to sell.
4. Desire
Increasingly, people are opting to relocate farther from Perth City to experience a more environmentally friendly, slower-paced lifestyle. This gives you a whole new start. Another key advantage of moving out of the city is that house prices are more affordable than in places like Rockingham, Mandurah or Quinns Rocks.
5. Divorce
Sadly, this is one of the more common reasons for people needing to sell a house in any market. There is no better reason to move than to continue forward with your life and regain happiness.
6. Death
This is the last of the D’s and something that is obviously difficult to predict. You might be interested to know that if you inherit property from a deceased relative or friend in Australia, you may be able to avoid capital gains tax if it was their primary place of residence and you sell within two years.
Choose an agent who’s weathered many property cycles
If you know how to market a house for sale, the current conditions can work to your advantage. Whatever your circumstances, choose your agent wisely. The right agent will take the time to understand your position and know-how to generate interest in your house so you can sell at the right time and price.
