Thinking about selling in late 2019? Time to start planning now

*this article previously appeared in the January 2019 Midland express

 

So, you’re thinking about selling your home in 2019? That’s great but as a seller, it’s a good idea to think strategically about your sale and plan well in advance.

Why? The factors around the sale of your house are not always in your control.

Firstly, it is important to speak to a property professional to help you understand how to sell your house and understand some of the factors that might lead to a slower sale.

Some of the key factors to consider today are:

The average property price in your area.

If your home is comparable to other houses in your area in terms of size and amenity, you will have a good indication of what price point you might land at.

What is the national trend

House prices are cooling across the country and there are predictions for a house price drop over 2019. However in regional areas such as the Macedon Ranges and surrounds, there has been consistent growth in the market. Property prices vary within each market.

An upcoming Federal Election

Any changes to capital gains tax or negative gearing can have flow on effects across the market. Understanding these impacts and timing your sale around this may have benefits.

Changes to lending criteria

As a result of the ongoing Banking Royal Commission, the tightening of lending criteria has had a direct affect on property investors securing home loans or obtaining the loan amount they would like to secure. However, loosening of these initial changes is also a possibility in 2019, which would have a positive effect on buyers and sellers.

The Time of Year

If you’re unsure on the best time to sell in 2019, it’s a good idea to talk to a local real estate professional for advice.

 The most important aspect of considering a sale is also your own personal circumstances. Homes require attention and management, and without that space to work on your most important asset, an optimal sale price may not even be possible