Selling a property is one of the biggest decision. But there can be many personal and impersonal reasons that motivate you to sell the present property. These can be home-related issues, financial issues, personal issues, or life cycle. For more details, we had explained these reasons under the heading of 7 amazing signs that tell you property is ready to sell. Let’s know them:
Increased business or family size is one of the most common reasons for selling present property. Some businessmen who wish to expand their business, surely need a big office and need to hire a large number of employees. For them, he has to arrange proper sitting plan means having to break the walls of the office to acquire more space. But in some offices, it is not possible. Therefore, moving to another property will be a wise decision.
The same case applies to if you are going to sell property in Canberra. With the family expansion, the need and demand for the bigger house also boosted. Children require own space to study and play. Even if they do not want to share personal space with siblings. Keep in mind, if the cupboards are full and doors are not closing, means you need a bigger house.
Bad neighbours are really a nightmare. These define your social and economic status. Therefore, many parents who have grown-up children like to give better environment that help their personal growth. Some of the other factors are grown too commercial, too busy, too young, or too quiet neighbour. For example, a retired person always like to live in the company of old people of their age. Living in a society of youth or in the industrial sector, it will be a card for him. Therefore, the neighbourhood can motivate or demotivate you to change house. If you are not satisfied with neighbours, means its a time to shift to a new house.
This is the most common reason for selling house property. Work-related transfer helps you to uproot your skills and these are essential too. As it is hard to fulfil by staying in one town or city. You need to move to another town or state and there is nothing wrong in this. But leaving behind vacant property and paying rent to another is not a wise decision. It’s good to sell your present property and buy new in the next city.
Moving for the family is as common reason to buy a new house, same lies when you are going for a breakup. Divorce let your property divide into two parts. If you have enough cash you can save your house. Otherwise selling is the only option to pay an amount to your partner. Hence filing for divorce is a green signal that your house is going to sell.
As the family grow, current occupants seems less. New member needs more space to play and move freely. Even his/her toys, cupboard, bed and other details need a special place to store. Hence, its a warning signal that you need to move to a bigger house. Otherwise, all mess created around in house can be the biggest hurdle in baby’s growth.
Death In Family
Unfortunately, death is another warning signal that your house is going to be sold. Death of main family member means the property is going to be divided among heirs. Where selling a house is more easily than dividing a single property into two or more members. In addition, some people also sell the property where one half of the couple dies. As living in the same house for a longer time means recalling the memories and living with sadness. This is a red alert that your property is about to sell and you can start looking property at some other place.
High Maintenance Cost
With the passage of time, it’s obevious that every property demand from wear and tear cost. But if walls start to weaken and cracks can be clearly visible, some other reasons are moist, electrical wires need replacements and water pipes are leaking and damaging the property. This is a case where you need to pay maintenance cost equal to or greater than the actual house property value. There will be wise to sell your property and move to another newly built house.
Alison Duffy is working as a project manager in Canberrapropertysolutions which is Australian based Real Estate consultancy and provide property for sale in canberra. She loves to share her ideas regarding real estate investment, Properties, etc.