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PROPERTY ADVICE


               say goodbye?                                                                 A change in circumstances            once – especially if you’ve been living there for a
              Time to
                                                                                                                                 very long time – such as the need for a new roof
                                                                                            A lifestyle change is always a good time to
                                                                                                                                 coinciding with windows needing to be updated
                                                                                            reassess your home and whether it still works
                                                                                                                                 and a tired kitchen or bathroom.
                                                                                            for you. Perhaps you bought a family home
                                                                                            in  the  catchment  area  for  popular  schools,
                                                                                            but your children have now completed their
                                                                                            education. If you find yourself with no need to   For  some  homeowners,  the  thought  of  living
                                                                                                                                 through  major  works,  and  the  expenses  they
                                                                                            live in the catchment area anymore, you could   incur,  might  lead  them  to  decide  that  they’d
                                                                                            benefit from selling your home (even to move a   actually  prefer  to  move  on,  and  let  someone
                                                                                            few streets away, outside of the catchment) as   else make those updates. It should be noted
                                                                                            your home will likely be in high demand from   that if you do decide to sell when obvious
                                                                                            family buyers with younger children who are   upgrades are required, it will likely be noted on
                   How do you know when it’s the right time to move on                      very keen to live in the area.       your Home Report and may affect the value of
                                 and sell your home?                                                                             your  property,  but  depending  on  the  demand
                                                                                            Your home needs extensive work       for your kind of home, prospective buyers may
                                                                                            As  we  all  know,  properties  require  regular   not mind. Some buyers prefer to do the work
                                                                                            maintenance,  and  some  jobs  can  be  much   themselves to make their new home the way
           or most of us, our homes are the biggest   But all things must come to an end, and you   bigger, and much more expensive, than others.   they want it to be, rather than paying extra for
           purchase we’ve ever made – regardless   might be wondering if you should be selling   Unfortunately,  times  may  come  when  your   brand-new  fixtures  and  fittings  they  wouldn’t
      F of their size. And again, most of us will be   your property and moving onto pastures new.   home needs several expensive jobs doing all at   have chosen themselves.
       incredibly emotionally attached to our homes,   But how do you know when the time is right?
       for a variety of reasons. Perhaps it’s your first
       home, or perhaps it’s been your family home   Market status
       for decades, and the backdrop to hundreds of   One of the first things to consider is how the
       happy memories.                      land lies, both in terms of the property market,
                                            and your own circumstances. Can you afford to                                             Size matters
                                            move home, and the expenses that come with                                                If the size of your home is stressing
                                            it? If you’re thinking of upgrading to a larger                                           you, it could be a good time to move.
                                            property, are you able to access a mortgage                                               Too little, or too much space is a huge
                                            that  will  loan  you  sufficient  funds?  It’s  also                                     factor in deciding if the time is right.
                                            key to consider your current mortgage status,
                                            especially if you’re on a fixed term which hasn’t                                         Circumstances  change  all  the  time,
                                            reached its end date yet – a conversation with                                            which can massively affect how much
                                            a mortgage advisor can help you understand                                                space  we  need  in  our  homes.  From
                                            your options.                                                                             the need for a home office, to a baby
                                                                                                                                      on the way, to older children moving
                                                                                                                                      out, so many things can impact your
                                            It’s also good to look at the property market,                                            requirements.
                                            in your current location and where you’d like
                                            to move to, if they differ, as well as the wider
                                            market,  to  get  a  gauge  of  how  things  are                                          If you feel like the walls are closing in,
                                            moving and whether now is a good time to sell                                             or if you feel like there’s too many
                                            or buy. ESPC’s monthly House Price Reports                                                unused rooms to maintain, it’s a sure
                                            can keep you up to date with the latest property                                          sign that a new place might better
                                            market information, so you can make your own                                              fit your current lifestyle.
                                            judgement on whether it’s a good time to list
                                            your home and move on to a new nest.

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