The right time to sell your property is when you have something better to do with the money.
You might choose to sell an investment property to free up cash for your retirement. Or to buy that motorhome you’ve always wanted.
Maybe you plan to shift to a cheaper town and work remotely, so you can reduce your mortgage or remove it completely.
Maybe you want to start a business and chase that entrepreneurial dream you have always had.
All of these are valid reasons to make a move. Smart ways to use the equity you have built up in your current home to progress forward in life.
Property is best utilised when it is considered a vehicle to help us get where we want to go. Whether it’s making long-held dreams a possibility, like starting a business or providing financial security throughout retirement.
As an owner, the question of whether to sell can pop up regularly, especially if you own a rental property or holiday home as well. This potentially causes ongoing low-level anxiety as you ponder what the right move might be. When you catch yourself in this mindset, remember that endlessly pondering a question with no clear answer is a bit like worrying in general: it gives you something to do but it won’t get you anywhere.
One strategy to remove anxiety from the equation is to avoid trying to time the market. Many owners ponder whether to sell their property because they feel the market has ‘hit its peak’ or ‘maybe it’s just the right time’. But no one knows what markets are going to do in the future. You might sell now and miss out on massive capital gain moving forward. Or you might just end up being the smartest person on the planet.
Picking the top of any market is simply speculation.
Instead, you might take a position that you will sell your property when you have something better to do with the money. Regardless of whether the market is pumping hot or simply lukewarm. Either way, if you have held your property long enough, you will likely have made a significant capital gain.
Hopefully, this impending windfall is enough to make your dream come true, whatever that might be.
Once you know the right time has come to sell, getting the best possible price will largely be determined by choosing the right real estate professional to market your property.