3 reasons to consider selling your home now
Selling your home is one of the most significant financial decisions you will ever make. And, while the current market (and the media fearmongering that comes along with it) may have you convinced that it’s worth waiting, here’s why we believe you can actually achieve great results by putting up the For Sale sign right now.
Home prices remain relatively high, for now
According to the latest Domain House Report, the property market has undeniably cooled in recent months, with Australia’s median house price taking a tumble. However, it’s not all doom and gloom, with prices actually settling at a much more sustainable level and still remaining relatively high. In fact, data published by Property Update places the median value of houses across three of Australia’s major East Coast capital cities above $745,000 – with an average Sydney house valued at over $1 million.
It’s also important to remember that with ‘working from home’ here to stay, many buyers are choosing to spend on space. For homeowners thinking about selling spacious homes in prestigious areas, this may be the sign you’ve been looking for.
Outsmart next year’s recession by selling your home now
The International Monetary Fund and World Bank recently warned of the growing likelihood of a worldwide recession in 2023 – with Australia unlikely to be spared the risk of a severe economic slump.
Consider this your heads up to think about selling your home sooner rather than later. This is because during periods of prolonged economic downturns, as rising levels of unemployment push more buyers out of the market, the price of property traditionally falls. For this reason, you may want to list your home for sale now, rather than waiting things out for another 12 months.
Undersupply of housing v. demand
Furthermore, although the property scale is likely to shift in favour of buyers – with prices on a downward turn, and housing affordability on the increase – low competition can still make selling your home a profitable option.
We understand that it may sound counterintuitive to put up the For Sale sign immediately. However, if you avoid the temptation to play it safe and wait, you may actually discover it can be an excellent time to consider selling your home right now. And it all comes down to a case of supply v. demand.
Ultimately, due to the prevalence of other homeowners holding off sales over concern about price drops, those who do opt to sell sooner place themselves in a position to bring something to the market which meets a demand that might not otherwise be supplied.
How to really stand out when selling your home
While fortune favours the brave, it also rewards the well-researched. So, it’s still vital to take a strategic approach to selling your home in the current climate.
Before you call in an agent, we suggest you have a chat with a member of BOWERBIRD Interiors’ own Property Styling team. Having styled over 5,000 properties for sale (and with 95% of those homes achieving a successful return on investment), the expertise of our property stylists can help your home sell faster and maximise profit in the process.
We’d love to help you get your home sold faster, for a higher value. Get in touch with our Property Styling team at firstname.lastname@example.org or on 02 9531 2233.