Is now a good time to sell a house?
Selling a home now? Tough market?
It may be tough. But a tough market also offers potential.
But be on top of local markets. National trends may not reflect what's happening in your immediate area.
It can be a good time to sell, if you can buy better
If a home isn't selling, it's often down to price
The instinctive reaction is to hold out rather than give a big reduction.
Sell for less, buy for less: aim for an overall gain
If your home isn't selling you can ask less to ensure a sale. Overall it could be worth more to you financially.
A lower price can make serious financial sense
Having a sale agreed could open the way to buying on better terms. You'll be in a strong negotiating position in a tough market.
Only agree to sell if you can buy for less. You want a big enough saving to improve your overall position.
When it's hard to sell, it's a good time to buy
Aim to gain more than the amount of any reduction.
- If you trade up, a 5% reduction on your next home is more in hard cash than giving a 5% reduction when you sell
- You save on fees and Stamp Duty
- As a firm buyer, you might find better homes are within reach
How much can I sell my house for? No, the first question is how much you can buy for?
Have a look at homes for sale. From house prices information and recent sales, try to gauge what owners might take.
Look at the figures. See how much you'd gain
Look at what you might buy today, even if you sell for less.
Even if you're trading down it's worth considering how shrewd a purchase you could make.
Current prices where you are
Land Registry figures tend to be 3-6 months behind the market. For a feel of the current market look at Rightmove which publishes current asking prices. Hometrack publishes prices recently agreed by agents. Halifax and Nationwide reflect recent sales. See page UK house prices information for links to all the major house prices sites.
Be aware of your local market. It's the key to what benefits you
The picture varies widely regionally, from town to town and within different price ranges.
See more information on the current market in house prices news
Ask your agent to help. It's two lots of business
In a difficult market business can be hard. Knowing that you are keen to both sell and buy should ensure an estate agent is keen to help.
Ask them to point you towards sellers they know genuinely want a sale.
Current house prices reports
See page on house price news for a summary.
The main sites that help decision making
See panel to the right.
