Whether selling your home or an investment property, sales figures are only a small part of the equation.
There are numerous reasons to sell an investment property. it can be time to “cash in” your portfolio and retire. The property may be underperforming. Or there may be other factors. If you live in your Perth home and want to “move up,” there are some compelling arguments for knowing when to make your move. Here are some tips.
Capital Gains Performance vs Condition
The basic question here is whether or not your home is providing enough capital growth to make it worth waiting for. If the home is beginning to show signs that it will soon need heavy maintenance or renovation, you need to figure out whether it is worth holding onto or if you should unload it and make it someone else’s problem. It can be well worth spending money in the right areas to maximise your sale price.
Your Living Situation
If you are occupying the home, does it still suit your needs? For example, your family could be growing so fast that your current home is no longer large enough. Or you could be looking at a large, “empty nest” and ready to downsize. Is your home still the “right” home for you?
Is this home becoming high maintenance? If you are an older owner-occupant, you may not want the hassle of maintaining it. If you are an investor, the last thing you need is a “money drain.”
Is the neighbourhood becoming rundown with no sign of renewal? Are you having problems with some of your neighbours? These factors can really weigh heavily on you over time and affect your overall enjoyment of home ownership, not to mention your ability to keep good tenants.
When You’re Ready to Sell
If you are getting ready to sell an investment property or your home, call us at Investors Edge. We can help you choose how best to maximise your selling price.
Call 1300 472 427 today for more information.