When the property market takes an uncertain turn, it can throw your moving plans into doubt.
Remember the post-Brexit wobble? And when Covid struck? Both looked catastrophic for sellers, but prices surged in the boom that followed with a massive shortage of property from such high demand.
Now, higher interest rates and inflation are causing many buyers to press pause and keep renting as they wait to see how things pan out.
While most people don’t move for financial reasons - factors like family, work and lifestyle are the ones that run the show - it’s money that makes every move possible.
So is selling your home a good or bad idea right now? Will you actually find a buyer? Or are you better off waiting, and for how long?
There are many questions to answer, and this week’s blog covers all you need to know about selling in today’s market so you can make a confident plan.
Number crunching is hardly the most exciting part of moving home, but it is the cornerstone of knowing whether it’s financially possible and manageable, so let’s look at the nuts and bolts.
Once you’ve answered the above, you’ll have a clear picture of whether moving home is financially viable without feeling overwhelmed or overstretched.
The best time to move home is always when it’s right for you, but it can be all too easy to get distracted by headlines about the state of the market, instead of focusing on the next chapter of your life.
The thing about moving home is that once we’ve started thinking about it, we just want to go. So keep your focus on your dreams, and if now isn’t the right time to move, that’s fine.
If your home has been on the market for some time, you’ve probably experienced the shifting market first-hand, and the chances are the price you started at needs a review.
Sometimes it’s even worth taking a break to recharge and make a few styling changes. Our Photography Secrets blog is packed with tips to give your home a fresh start.
Although mortgage approvals have been fluctuating, they certainly haven’t fallen off a cliff, and while the market is highly price sensitive right now, it’s still very possible to sell your home.
It’s also worth saying that with more property on the market, you’ll have plenty of choice when you come to buy - a far more positive and less stressful experience than many people had in 2022.
Even if moving home is in your head, there are occasions when waiting it out might be your best option. From our experience, these tend to be financial reasons and include:
If you’re still unsure if the finances work for a move, speak to an independent mortgage advisor before ruling anything in or out. Their fresh perspective can highlight possibilities you may not have considered.
Wondering what’s your next step?
There’s plenty to think about before taking any action, and we’d love to help you make the right decision for your future, whether that’s selling up or staying put.
Our friendly and expert team is here to answer all your questions, so call us on 01722 580059 or email us at firstname.lastname@example.org for a chat about your plans.
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