May 01, 2017
Your feet are itchy, your eyes are straying to the real estate section of the newspaper, you're spending spare time scanning property websites, your ears prick when someone mentions moving house...
Sounds like it could be time to list your house and move to your next home.
So where do you start?
Firstly and most importantly, you need a great agent. Not just a good one - not just one that a friend told you about, but someone who you're consistently seeing on sales boards in your neighbourhoods, someone who knows your neighbourhood, someone who is not just personable but who has a great database, someone who works hard for the vendor and is a great negotiator.
Do your research, ask around, listen to your gut, make sure they're not just telling you what you want to hear. Ask for comparisons and a realistic price that you could expect for to gain. Ask the agent to justify how they came to that price and make sure they're not just trying to talk it up.
Make sure their commission and marketing fees are comparable to the opposition. Anyone too low would probably be ringing my alarm bells. This isn't the time to be trying to save a few dollars because it could cost you big in the long run!
Once you really believe that the agent is the best you can find, then sign the dotted line - but not until you're sure!
Secondly, get your house ready. De-clutter, remove any rubbish, hide toys, clean out cupboards and wardrobes - you're going to have to sort them out to move, so why not get organised early.
Touch up paint, steam clean or replace carpet, thoroughly clean your kitchen and bathrooms, tidy up the garage, weed, mow, plant... do everything you need to do to get your home looking the best it's ever looked.
It's also helpful to ask the agent what they think needs attention. They look at homes every day from the buyers' perspective, so they will know what buyers are looking for.
Don't go overboard. Sometimes buyers want to put their own stamp on their new home, so you need to find the balance between re-decorating and enhancing. A small investment of time and money is likely to reap great rewards.
Finally, do your numbers! When you've got a realistic price that you can expect for your home, subtract the cost of selling - agent fees, marketing, legal fees, etc. It's good to run these numbers on 10% above and 10% below what your sales guide is - just so that you have best and worst case scenarios.
Once you know what you could have left after the sale, you will need to know your borrowing capacity so you can set your budget for your next home.
This is where you need a great mortgage broker. Not only will we look at your borrowing capacity, but we can run some scenarios with different loan products to make sure you're getting all the features and flexibility you need.
With your guide of how much you can spend, it's time to go shopping!
In an ideal world you would buy and sell so that the planets aligned and settlements happened simultaneously - but this doesn't always happen, so be prepared in case you have to find temporary accommodation or arrange bridging finance.
Most importantly, the process of buying and selling can be extremely stressful, so take care of yourself! Enlist help when needed, take time out, say no to an extra inspection if you don't think you can handle it.
Moving house is a great thing to do. It's a fresh start and exciting - but it's not easy.
Let us take the stress out of the finance for you. This is what we do every day, and we'd love to help you.
Whatever stage you're at, call us for an obligation free chat. 07 3366 8604.