Are ‘For Sale’ signs popping up in your area? Are your neighbours selling for a great price? You might be in a seller’s market! This could be the best time to sell a house and you don’t want to miss the opportunity. Right now, Hawke’s Bay is a ‘seller’s market’ – this means the number of buyers on the hunt greatly outweighs the number of properties available. However, we cannot rely on the market to stay the same forever, and it’s often difficult to predict change.
Why not question the estimated value of your home in this current market? It never hurts to know how much your property is actually worth and a licensed agent can assist you with a free appraisal at any time.2.
2. You’re in the green
Ideally, when you sell your home, what you get back will be enough to cover the costs of the deposit on a new property, as well as the associated costs of moving and settling a sale. It’s a ‘no brainer’ that selling when you have negative equity could leave you worse off than before.
Having built equity is one of the best financial factors in deciding whether you’re ready to move on. Your equity is determined by how much you gain (or lose) when the remaining balance on your mortgage is subtracted from the current market value of your home. To get the best idea of this figure, chat with Debbie Reed at Loan Market Napier.
3. Interest rates are low
In most cases, when there is a shortage of inventory on the market (like right now), low interest rates will spark increased demand on the part of home buyers. In addition, low mortgage rates mean affordable monthly payments, more potential buyers looking at your property, and possibly multiple offers – cha-ching! You are also likely to end up paying lower interest rates when you negotiate a mortgage on your next home.4.
4. You need to upsize or downsize
Maybe you’ve moved into a home as a couple, started a family and find yourself in a situation where your two kids are sharing a bedroom and you’re tripping over each other in the hallway. On the flip side, you might also be due for a downsize; kids have left and you’ve found yourself with an empty nest. Selling your home and moving into a smaller place is a great way to pocket some profit and maintain your lifestyle into retirement or even invest.
5. Desperate for a change of scenery?
Sick of Auckland lockdowns and spending 3 hours a day in traffic? It might be time to move on out! Whether you’re looking to move closer to work or your kids are about to start high school somewhere far from your current home, the need for a new location is a great reason to sell your home and move.
6. You have the right team!
Selling your home can be a daunting process, especially if it’s your first time. However, by doing thorough research and taking the right steps, you’ll have your home sold in no time.
Whether you’re an upsizer, downsizer, investor or first timer, you’ll need the right team behind you At Ray White Hawke’s Bay we have an agent for everyone, someone you can depend on and go the extra mile for great results.
7. It’s always a good time to sell
Whether it’s a buyers market or seller’s market, low-interest rates or high, there’s a bonus for you on either side of the transaction. A buyer’s market means you’ll have the pick of the crop once you are ready to purchase again, a seller’s market means you could sell for a premium. Low-interest rates mean you’ll save money when purchasing, but high-interest rates mean house prices could drop as those who can’t afford it begin to sell up in a rush. No matter the market, there’s always a benefit