Making the decision to sell your home is a significant step that often involves a combination of personal, financial, and lifestyle factors. Here we provide an overview of the context to these factors, to help you recognise when it's the right time to put your property on the market.

1. A growing family

If your family is expanding, you might be starting to feel the limitations of your current home as opposed to it being the peaceful retreat it once was. Perhaps you are becoming more aware of the inability to segment off sections of the house in the evening to prevent little ones from being woken up, or maybe the volume of toys, games and ever increasing clutter is no longer accommodated in the available storage space.  

Growing families often require more room for kids to play and explore outside, in the form of a larger, more secure, backyard. In addition to needing room to roam, you may find that you have maxed out the available bedrooms and bathrooms in your current home. If you are upsizing for the sake of additional rooms and yard space, it’s worth doubling down on garaging too to accommodate additional vehicles, not to mention trikes, bikes and scooters!

2. An empty nest

Conversely, if your children have grown and moved on to pursue their own adventures, you may find yourself in a home that feels too large for your current lifestyle. Empty nesters often consider downsizing to a smaller, more manageable property. This not only reduces the burden of maintenance and utility costs but also allows you to unlock equity tied up in your current home. It's a chance to embrace a simpler lifestyle, perhaps in a trendy urban apartment or a cosy and low maintenance cottage in a quieter neighbourhood.

Another challenge that is often faced by empty nesters is that the family homestead often plays host to a huge amount of additional clutter, in the form of the belongings of adult children who have fled the nest but are yet to take full ownership of their childhood possessions. If the scale of space and possessions in your home far outnumbers the amount of people currently residing there, it could be time to fly the coop too. Not only will downsizing provide the opportunity to clear away clutter and start fresh, it could provide an opportunity to relocate closer to kids and grandkids.

3. Change in finances

Financial situations can change unexpectedly, influencing your ability to maintain your current property. Whether you've experienced a positive financial windfall or faced economic challenges in the tough financial climate of recent years, your home is a valuable asset that can be leveraged strategically.

Selling your home might provide an opportunity to downsize to a more affordable property, freeing up funds for other investments or debt reduction. A financial planner and a real estate salesperson can help you make informed decisions aligned with your financial goals.

4. Relocating for work

Career advancements sometimes come with the need to relocate, and this can be a compelling reason to sell your current home. If you're facing a job transfer or have accepted an exciting opportunity in a different city or region, selling your property allows you to make a seamless transition. Timing is crucial in such situations, with many people wanting to purchase a new home subject to the sale of their current property. Working closely with a real estate salesperson can help you navigate the logistics of selling and buying in tandem, ensuring a smooth move to your new professional chapter.

Relocating for work could also mean making a move in your current city. With the rapid expansion of some of New Zealand’s main hubs, your morning commute may have gone from tedious to taxing, in which case it may be time to make a move.

5. Lifestyle shift

As the years go by, lifestyle preferences can undergo significant changes. Maybe you've developed a newfound appreciation for the vibrant culture of city living, or perhaps you dream of waking up to the soothing sound of waves on the beach. If your current home no longer aligns with your evolving lifestyle aspirations, it might be time to explore new possibilities. If you are feeling underwhelmed in your current home, consider making the move to a different neighborhood, town, or even a rural retreat. Selling your home could be the key to unlocking the lifestyle you desire.

6. Maintenance challenges

Over time, older homes may require increasing amounts of maintenance and repair. If you find yourself constantly dealing with issues like a leaky roof, outdated plumbing, or a huge amount of garden to maintain, the cumulative costs and labour can become burdensome. Selling your home and moving to a newer property or one that requires less upkeep can alleviate the stress of ongoing maintenance and provide a fresh start in a more updated environment.

7. Market conditions and equity

Monitoring the real estate market is crucial when contemplating a sale. If property values in your area have seen significant appreciation, selling at the right time can maximise your equity. A real estate professional can provide insights into market conditions, helping you determine whether the current climate favours sellers and if it's an opportune time to make a move.

Recognising the signs that it's time to sell your home involves a thoughtful assessment of various factors. Whether your family is expanding, contracting, or your lifestyle is evolving, paying attention to these signs can guide you towards making timely decisions. At EVES, our knowledgeable salespeople are more than happy to provide you with all the information you need to assist you with your decision. They will help you explore your options, navigate the intricacies of the market, and understand what to expect with the sale of your current property. For more information, get in touch with an EVES salesperson today! www.eves.co.nz/our-people