Lifestyle changes are often the reason behind our decision to sell. Whether you are relocating, have a growing family or are downsizing, working out when to time your sale can be daunting – especially for first-time sellers.
Your decision to sell your property may not coincide with the perfect market conditions. Therefore it is important to know what is happening in the property market and the economy as a whole, as the real estate market generally reflects the current state of the broader economy.
Additionally, you should consider your own personal objectives, your ability to finance a new property and meet ongoing repayments and capital gains tax implications for selling an investment property.
Remember – if property prices are low, you may get less for your house than you hoped, but you’ll probably pay less for the house you intend to buy – and vice versa when prices are high.