To move or not to move? Four essential questions to ask yourself
Moving home is a huge decision. Some people take months or even years to mull over the idea before making a definite choice. The decision of course, has to be right for you and your family.
Answer the following four questions to dig deeper into your options and help you make an informed decision on whether to move or not.
Understanding your driving force behind your predicament can help you reach a conclusion. Ask yourself – why do I really want to move? Lifestyle changes are one of the top reasons why people feel a push to move.
Is your family growing and you need more space? Maybe you have been successful in your career and have achieved a higher salary which has enabled you to look for your next bigger and better home, or perhaps you dream of country walks and fresh air and which your town centre abode does not provide? Perhaps you have gone full circle and are looking to downsize to a smaller home that is easier to maintain.
Whatever the lifestyle you desire, it is probable that your current home just isn’t meeting your needs anymore. A new lifestyle and new home is calling you!
When you have dug deep and discovered the reasons why you want to move, you can explore this further and think about what options are available. It’s not always necessary to move but if your home is beginning to feel too small, another option is to investigate into whether or not you can extend or perhaps even convert the loft into extra living space. This can allow you to create the extra room you are seeking.
There are also other ways you can improve your current home that help lessen your desire to move, a new kitchen or bathroom perhaps? A garden room to create a toy room or new office?
Some of the reasons why you want to move might not be easy to work around. For example, if you desire to live in a particular location, there is no way around this. Not unless you could pick up your home and move it! So sometimes, if a move is needed then you just have to go with it and explore it further.
There are many costs to consider when moving. It’s worth mapping out all costs along with your budget so you understand your big financial picture. Sometimes it can be a cost-effective option to stay in your current home and improve it to suit your present needs if you can.
To get an idea of the budget you have to spend on your new home, start by obtaining a value for your current home. An Estate Agent can help you with this or if you are not ready to call an agent out, we can give you a well-researched online valuation. Go to the following page and fill in the details and we will send you your valuation report; - click here
Once you have your valuation, work out what equity you have in your home. To do this, take the value of your home and deduct the amount that have outstanding on your current mortgage. The figure you are then left with is the amount of equity you can use as a deposit against your next purchase.
The next step to understanding if you can afford to move is to consider all the costs involved with moving. Here is a list to guide you:
Unless you intend on using cash for the purchase, your final step in preparation is to speak to a Mortgage Advisor who can assist you in putting together a budget so you can confidently look at houses that are affordable.
This depends on your wish list and how specific you are? The more flexible, the higher the chance you have of finding your dream home.
The best place to start is to write a list of your needs (absolute must haves) and wants (would like to haves). This will help you focus your search. Browse through properties available in your chosen area on Rightmove.co.uk and assess whether or not they meet your requirements and budget.
A gentle warning though, if you do find something you like sooner than you expected, you may not be in a position to do anything just yet. Until you are in the perfect situation where you have accepted an offer on your existing home, you will not be taken seriously on an offer that you make for your next home. This is why we always advise putting your current home up for sale first before searching with an intent to buy. It will be a huge disappointment to find a property you love only for it to get snapped up from under your feet by another buyer that was prepared and in a better position than you are as a buyer.
For help about preparing your home for sale see our blog https://www.surepropertygroup.com/five-top-tips-to-prepare-your-home-for-sale
It’s good to consider the when is the best time of year for you to sell. It’s a common perception that spring is favoured and this is generally correct, spring is one of the busiest periods for home sales. Greenery returns after winter, flowers make an appearance, the nights are longer and everyone’s spirits tend to lift. It’s great to make the most of spring if you can but it’s not the only time of year that is good to sell. The best way to look at this is to think about the type of buyer that is likely to be interested in your home, focusing on your buyer and how your home would suit their lifestyle can guide you.
Different times of the year suit different types of homes for instance, if you have a family home, avoid school holidays as parents are usually distracted with potential childcare issues or are on summer holidays so house hunting could go to the bottom of the priority list. For a family buyer, spring and autumn are the best seasons. If you are selling a bungalow style property, it could be likely that an older buyer looking to downsize will be interested. People downsizing tend to prefer warmer weather so spring and summer are good seasons to sell, avoiding winter.
Put yourself in your buyer’s shoes and think about when they are likely to be on the lookout for a new home. Also talk to your local Estate Agent and ask about the current property market. They will be able to tell you if your type of property is high in demand.
Hopefully, working through these questions will give you clarity on the choices you have and help you come to a decision on whether to move or not. If you need help with this we would be more than happy to chat about this further. Perhaps you would like to know where you can add value to your home before selling? Maybe you are weighing up your options and need a professional valuation on your home? Whatever help you need with your moving plans we are always happy to get involved.
Call us on 01283 537120 or email a.sharpe@surepropertygroup.com
For more property advice and tips visit our website
https://www.surepropertygroup.com/branch/derby OR https://www.surepropertygroup.com/branch/burton-upon-trent
Andrew Sharpe
Sales & Lettings Director