A Current Dilemma………Shall I Stay or Shall I Go?

There comes a time in your life

When you have to ask some hard questions to be able to re-evaluate your life choices. Where you are heading, what is best for you and your family, what do I want to achieve? You need to ask yourself some soul searching, personal and pertinent questions as to what will be the most beneficial outcome for everyone concerned.

How do I decide?

The pros and cons of staying or selling your home!

Signs you should Stay and keep your home:

I can totally afford a new house…….if I sell a kidney!!!! It is imperative to do your financial homework. You may be able to fix those annoying little things with relatively inexpensive refurbishing or remodelling projects. Tip-off…Your “dream home” is that open home on the next street over that is nearly identical to your home in size, location, number of bedrooms and bathrooms BUT is impeccably decorated and updated. Think about it!

 

Signs you should Sell your home:

You frequently crave a neighbourhood upgrade…Some people just fall out of love with their location. Maybe there has been a rezoning or perhaps there has been a school or job changes which then makes their commute a hassle and time-consuming. Life discontent can be a very strong argument to sell or move.

Reasons to stay in your current home:

• Stability: You are in your comfort zone, same neighbours, schools, and shops.
• Familiarity: Aware of the age of the appliances, air conditioning, dishwasher, stove and roof……the old adage “better the devil you know” applies
• High Moving Costs: Lawyers, Real Estate Agents, fees for changing utility companies.
• The Perfect Home Isn’t on the Market Yet: Patience is key and you need to be wary about getting swept up in the hype of selling for the sake of selling.
• Logistical Hassles: Let’s be honest..Moving is a pain & just hard work!

Reasons to Sell your home:

• Size: House is too small. Families evolve, the addition of children or pets, a larger back yard needed, new possessions. Or the other side of the spectrum the house is too big. Wanting to downsize and minimise
• Deferred Maintenance: Can you see costly projects coming up when you look around your house? Perhaps the roof will soon need repair or replacement or the exterior is looking a bit tired and should be repainted. Potential purchasers may see these things as a challenge and are in a better position to negotiate additional finance with their bank.
• Lifestyle: Change of job or children’s schooling. Extended family joining the household which requires more privacy or different requirements.
• Fresh Start: Just feeling like a change. Increased job rewards
• Capital Gain: Selling in the right market may very well provide you with increased equity in a new property.

Staying or Leaving is an extremely important family decision

Here at Elle Cherie, we decided we need to investigate all the options and weigh up the advantages and disadvantages for everyone.

Stick around and read the next Instalment

Click to read: Shall we remodel or redecorate our home?

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