Page 31 - Magazine_Apr24

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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