The first thing to consider in buying and selling homes is when the best time to sell and buy is. As most individuals only own a single property, there is usually no good or bad time to move – the reason being that when house prices go down you will get less for your home but will be required to pay less for your new property and vice versa. In this sense the two will cancel each other out (though of course if you own multiple properties you can sell each off at peak time and buy up real estate that is going cheaply but rising in value). Taking into account the condition of an area and its future however can help you decide when and where to move. For example if you have the luxury of being able to work from anywhere, you may pick your home depending on predictions for that location – perhaps choosing a location where a lot of work is soon to be done by the council that will drive up property prices and help you get more back on your investment.
For most however the location you are moving is a foregone conclusion and the luxury of waiting years to sell your home when the value your old area has increased is one few of us can afford. The best time to move then will simply be based on the driving factors forcing you to move, and on your own financial and emotional security. It may for example be worth waiting for your children to finish the year at school, or until you’ve saved enough money to place a large deposit on your new home.
Though you can’t dictate the value of properties in your area easily however, there are still several tactics you can use to increase the value of your property specifically and your chances of selling it. Obviously renovations will help drive up your property value, and loft and garage conversions or porch and conservatory extensions can help make your house bigger and more accommodating. This will benefit you in the short run but should also pay for itself when it comes to selling.
While all this will increase the actual value of your home and guide you on when and where to move, it will not necessarily mean that you can sell your property when the time comes. The technical value of the property is not enough to guarantee a sale and a certain element of marketing technique will come into it. This means tidying the house and making it look attractive to potential buyers (and not too personalised which will limit your audience), as well as advertising in the correct places and even bartering with the customer to settle on a price that both of you can be happy with (make sure you know the rough value of your home then set the starting price at a realistic but optimistic level to give yourself leeway).
As you can see then, making a private real estate sale is an art form that is far from straight forwards. With time and effort however and the right advice, it’s possible to go through the process in a way that will make it as un-stressful and profitable as possible.