Have you ever thought if you could get a certain price for your home, you’d sell it? A price that is so good it would be an absolute ‘no brainer’ for you to accept?
If you answered yes, the next few months might be the best chance to achieve your dream price before the next property cycle kicks in. As the saying goes – what goes up – must come down. So if you’re feeling nervous about the pressure of having to buy back into this crazy seller’s market, there are a couple of alternatives…..
1. Long settlement periods are becoming more common these days. Anywhere up to 12 weeks is quite standard at the moment. This gives you plenty of time to find and secure another property without too much pressure. However if you’re unsuccessful, the next option is ….
2. Renting for a period of time is a great option for riding out the rest of the wave and being cashed up and ready to pounce once the heat comes out of the market. Yes it might mean a bit of inconvenience for a while – having to move twice, but the financial benefits should definitely outweigh the inconvenience.
Unless you’ve had your head in the sand the last few months, you would know that property listings are extremely tight for freestanding homes or townhouses/duplexes. The demand for property with a yard or outdoor area has never been higher. However when the media picks up on signs the market is cooling you know the tide is turning and on the way back out. Read this article to find out more.
If you take the chance to capitalise on these ideal selling conditions, you should also expect to pay more for your next purchase (apartments excluded!).
However, if you achieve your dream price for your home and then rent for 6-12 months until the supply of property increases, you may pick up your next property for much less than you expect.
One of the biggest causes of supply shortage is homeowners who are holding off selling because they think it will be too hard to buy something else. And this is true in the current market. But if you wait for the market to turn so you can easily afford to buy, your home will also sell for less and you will ultimately have less to spend.
Some food for thought for anyone who has been contemplating selling or downsizing in the near future is to do it sooner rather than later because the property market has a life of it’s own and does not wait for anyone!
If you’d like to know what your property is worth in the current market, feel free to book in a time with me for a quick chat here: https://calendly.com/innovativepropertyadvocates
or call now on 0411 522233.
Visit our website to find out more about how we can help you achieve your dream price in 2021.