‘The property market is booming… Prices are soaring…The market is starting to decline… Vacancy rates are increasing’. From what we hear on a day to day basis, everything is constantly changing, and sometimes it can be hard to keep up with the times.
Do you buy or sell? Do you rent and buy? Do you sell and rent? There are many options, and the outcomes of your decisions are never guaranteed.
Here are some questions to consider, if you are thinking about selling or buying.
- Do you have to sell or buy?
- Is moving a necessity for work or family reasons?
- How are you going to achieve the best price when selling your property?
- How are you going to negotiate the best price when buying a property?
- What are the additional costs of buying and selling a property?
- Do you have substantial equity in the property that you want to sell?
- Do you have additional savings to support the sale or buy move?
- Are you emotionally ready to make a move?
- Do you have the time necessary that goes into the process of moving?
- Have you set a realistic plan to make a move happen?
- What is the reason for your move?
- Is it a random spur-of-the-moment decision because the neighbours sold for a record price?
- If you sell your property, what can you buy in the current market?
- Do you need to improve and prepare your property for sale?
- Will the potential renovations give you a capitalised return?
- What if the market changes?
Are you ready to sell or buy? Do you need advice?
If you are ready to sell, buy or invest, the team at Crown Property Management is just a telephone call away to assist and support you.
Disclaimer: Do not act solely based on the material contained in this newsletter article. The information and statements herein are general comments only and do not constitute or convey advice per se. Seek independent professional advice before making any decision or acting. | Adapted from ‘The Investor’ Aug-Sept 2021 issue by PPM Group