5 Signs That Your Property Is Ready For A Sale
Many of you are ready to list your property on the market, but, have a question in mind — How do I know now whether it is the right time to sell? A million dollar question, many are looking for an answer to this especially in times when the market is witnessing continuous ups and downs owing to the latest reforms that have had an impact on the real estate market and turned keen homebuyers into fence-sitters.
However, there are a few signs that could help you figure the right time to put your property on the market and earn good returns. MakaaniQ lists three such signs:
At its best growth numbers
You have been living on the property for close to 15 years now and the property is valued at more than what you had expected when you bought it. It would be the right time to part way. To know if the time is right, read the movement of property prices in the past five years. If you see that the numbers have grown quickly in the past five years, it is a good sign. There is only a certain number that your property will achieve, beyond that it will only come down. Check with your agent to know that your property has reached the peak. If he agrees, do not wait anymore and put your property on the market.
What are the end numbers?
For many selling their home to buy a new one, the aim is to know you are earning enough from the sale. Generally, homebuyers miss out on some key expenditure which is beyond the cost of the property you plan to buy. This includes your paperwork, repairs and packing and moving. Sit down with your calculator and figure out whether or not the money you get out of selling your property will be enough to settle you in in the new property and you are still left with a good sum. The end number is what will be your motivation to sell. If the numbers look good, take your property to the market.
Find one before you sell this
Selling a property and then buying a new one could be a risk. So, while you are working towards listing your property, you should also look at the listings to buy one. However, a financially viable decision is to buy a property before you sell one. This way you will not have to worry about a new place when you move out.
Know the selling season
There are certain months in the year when property selling is more active than the others. Mostly homebuyers look for new properties in the festive season and also, once they are done with their financial filings. Know the right time and make a move.
Investors are pouring in
With the market becoming organised, genuine investors are making a beeline to the market, looking for the right property. Now is the time to prepare your property and list it on the market. Investors keen on small portfolios can come knocking at your front door.