Signs it’s time to sell.

Tell tale signs, it’s time to sell your Chesterfield home.

On average, we stay in our homes for around 12 years. Covid saw a surge in people wishing to make that change sooner, although this is slowing in Chesterfield today. The decision to sell your home can be for a variety of reasons. You have been considering moving for some time, a decision due to a change in circumstances. Financial and emotional factors behind such a move means you may still be unsure whether to take the leap. How do you know if the time is right? Here are five common signs that it’s time to sell your home.

1. The current market

Before you make the decision on whether it is time to say goodbye to the home you love, it is  always good to understand the current market.  According to the latest House Price Index from Rightmove, the average price of a property coming onto the market has risen by 0.3%. Another new record high for a fifth consecutive month. The demand for each property by potential buyers was down by 8% in May compared with April, still more than double (+113%) the pre-pandemic five-year May average.

“The exceptional pace of the market is easing a little, demand gradually softens and price rises begin to slow. This is to be expected given the record-breaking numbers over the past two years. The number of buyers contacting estate agents compared to 2019 or the pre-pandemic five-year average, demand is still very high. We’re hearing from agents that they are receiving, fewer enquirers for each property in recent months. For the most part seeing significant interest from multiple buyers and achieving successful sales. Entering the second half of the year, we anticipate further slowdown in the pace of price rises, particularly given the affordability challenges that people are facing. We expect this to bring the annual rate of price growth down from the current 9.7% towards the 5% increase that Rightmove predicted at the beginning of the year.”  Tim Bannister Rightmove’s Director of Property Science

2. Local influence

Although this is a national view, it does reflect what we are seeing locally. Buyers’ demand still remains high and the quality of those buyers is strong. Today’s buyers know they will need to make quick decisions should they find their ideal home, they must be in a robust position to proceed.

If you’re thinking of selling, you may have been following what is happening in the local market. Which of your neighbours’ properties have sold, making note of their asking prices.  If you wish to understand how your property will perform, request evaluations from your local estate agents.

3. Feeling the pinch

The cost of living crisis continues to affect our finances. We have started to see several buyers who have made the decision to move to ease the burden. This will not be a decision you make lightly, it is worth investigating if order to reduce your mortgage and other associated costs. We understand selling for this reason will be an extremely difficult one filled with a wealth of emotions. We can reassure you that Pinewood Property Estates will support you each and every step of the way.

4. The size isn’t rightAs we move through life our family can grow, spread their wings, and come back together. Your needs for your home change as your home and work life continue to evolve. There may be times in your life when your home feels too big or you are crying out for more space. One of the main factors for many homeowners looking to sell their home is when they know the size isn’t right.

5. Too much work

You may have fallen in love with a property due to its extensive garden, swept away by its period features, or excited by its potential. What was once a dream home can turn into a nightmare, the reality of living in and maintaining/renovating a home can be stressful. Keeping hold of a property you have fallen out of love with can be draining, emotionally and financially. If feelings start to change about your property, it’s better to move before this affects the presentation of your home.

What does your gut say
There are never any guarantees when selling your home. Whatever the reason for your move, consider all aspects before making a hasty decision. Call us for an honest appraisal of your home, an opportunity to discuss the reality of selling in today’s Chesterfield market.