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Is It Time to Upgrade to a Bigger Home? Here’s Why You Should Act Now
5 months ago
Is It Time to Upgrade to a Bigger Home? Here’s Why You Should Act Now

If lockdown life has made your home feel a little too small, and your kids have been dropping hints for more space, now might be the perfect time to consider upgrading to a larger property. With restrictions easing across Australia and the real estate market showing resilience, preparing your home for sale now could put you in a prime position when buyer demand peaks.

Here’s why taking action now is a smart move:

Market Conditions Are in Your Favour

The recent scarcity of listings means fewer properties are available, which has helped maintain property values despite the economic uncertainty. Many sellers are holding back, creating an opportunity for you to stand out in the market with fewer competing properties.

Interest Rates Are Historically Low

With interest rates at an all-time low—many 3-year fixed rates are under 3%—buyers are feeling optimistic about purchasing property. Lower borrowing costs are encouraging more buyers to enter the market, which can boost demand and help you achieve a solid price for your current home.

Buyers Are Ready to Act

Eased restrictions have allowed for open houses and private inspections under social distancing rules, giving buyers the confidence to move forward. Additionally, new technology options like 3D virtual tours and video walk-throughs on platforms such as FaceTime, WhatsApp, and Messenger are making it easier to attract interested buyers from a distance.

Eight Reasons to Consider Selling Now:

  1. Increasing Buyer Interest: More buyers are entering the market as restrictions ease.
  2. Government Support: COVID-19 policies have provided a safety net, boosting confidence in the market.
  3. Mortgage Flexibility: Flexible repayment terms are helping maintain property values despite economic challenges.
  4. Scarcity of Listings: Fewer properties on the market mean less competition and price stability.
  5. Vendors Holding Firm: Most sellers are reluctant to reduce asking prices, knowing demand will likely increase.
  6. Historic Low Interest Rates: Record-low rates are making homeownership and investment more attractive.
  7. Less Competition for Buyers: Some buyers know they face fewer competing bids, motivating them to make strong offers.
  8. Investor Shift: With volatility in the stock market, many investors are turning to real estate for stability.

Start Preparing Your Home for Sale

If you’re thinking of selling, don’t wait for the market to peak—start your preparations now. Simple home improvements, like a fresh coat of paint or minor repairs, can make a big difference. With fewer listings and motivated buyers, your home could be the perfect fit for someone looking to make a move.

Ready to make a plan? Contact us at Agent Team to discuss how to prepare your property and leverage today’s market conditions to get the best possible outcome.

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