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Determining the Optimal Moment to Sell Your Property: A Comprehensive Guide.

the best time to sell your property

Selling a property is a significant financial and personal decision, and as a result, it is not surprising that one of the top questions we receive from clients is, “When is the best time to sell my house?”

However, the answer to this question can vary from seller to seller, depending on their unique circumstances and objectives.

For some sellers, the goal may be to obtain the highest possible price for their property during a peak market period, while others may simply wish to divest themselves of an under-performing asset and move on to better opportunities.

The difference in objectives is evident.

In the real estate industry, if a seller is selling during an “upmarket” trend, they are also likely to be purchasing during an “upmarket” trend.

As a result, concerns about market trends may not be critical when selling a property for personal reasons.

Instead of focusing on the “best timing,” which must be assessed on a case-by-case basis, we suggest considering several key questions that can assist in making a decision.

It is possible that going through this list will reveal that now is an excellent time to sell.

rpm avoid common mistakes

Table of Contents

Changing Life Priorities

Many individuals and families find themselves needing to sell their homes due to shifting life priorities, such as parents who wish to relocate closer to their children’s primary schools or working adults seeking a residence nearer to their workplace.

In these situations, there is often a sense of urgency, particularly when it comes to school proximity.

Therefore, it is advisable to plan ahead and avoid finding oneself in a predicament of trying to sell a property with an impending deadline.

For instance, it would be prudent to give yourself at least one to two years to explore potential opportunities before your child begins attending the desired school.

However, when it comes to workplace proximity, the urgency is typically not as crucial, allowing for more time to explore various options and potentially wait for a better price if necessary.

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Depreciating Home Value

best time to sell property


Price comparison between The Tennery and District 23.

The Tennery is a development situated in District 23.

The Tennery depreciated 1.3% from 2013 to 2023, while the average of District 23 resale Condo went up 28.63% during the same time.

This is something that many homeowners are shockingly unaware of.

Many expect their property prices to continuously appreciate over time but get a bad surprise when they realize prices can and do dip over time.

Yes, the values of new properties tend to appreciate over time.

However, we also observe common dips in value when properties are still considered new.

The sudden surge in supply and overall aging of the property contributes to the decline in prices.

So, if you do not intend to make your New Home your forever home, it might be good to start planning ahead for selling at some time.

Upgrading Lifestyle

upgrade to condo review

Our next topic of discussion centers around upgrading from an HDB to a Condo. If you are seeking to enhance your lifestyle, selling your current property may be a consideration.

Therefore, it is important to determine the optimal timing for such a transition.

Over the years, we have assisted numerous clients in successfully upgrading from their HDB to a Condo.

As a result, we have compiled a comprehensive checklist that can aid in assessing your readiness for this move.

In addition to the checklist we have prepared, our team of experienced professionals can assist you in every step of the process, from evaluating your property’s worth to identifying the ideal timing for your sale.

Contact us today to schedule a consultation and take the first step towards your upgraded lifestyle.

Reducing Commitment

At certain points in life, individuals may seek to reduce their commitment to properties as a means of de-risking their financial portfolio.

This could manifest in downsizing or planning for retirement, among other reasons, leading to a consideration of selling one’s current properties.

As a real estate consultants, we take into account my clients’ ages, current life stages, and financial standing to provide tailored advice on the most effective approach to selling their properties and identifying a meaningful next step.

Whether it involves downsizing or exploring alternative investment opportunities, we are committed to guiding our clients towards a successful outcome. We can discuss your unique situation and explore your options for reducing your property commitments.

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An Underperforming Asset

under perform property

Property investors will be familiar with this term, Underperforming Asset, as this is more relevant for them than typical homeowners.

Lets look at the chart above.

Double Bay TOP in 2012
Tropical Spring TOP in 1997

Looking at the above price trends for the past 10 years. Double Bay appreciates slightly lower than Tropical Spring.

An under-performing asset is generally a property located in a good location, with decent rental yield, yet stagnant price.

Should you sell in such a situation? It depends.

If you are looking for future capital gains, and there are no further development plans that could indicate such growth, then selling is probably a good idea.

Re-channeling the funds to another better-performing property will benefit you in the long run.

Property Wealth Progression

Property Wealth Progression is a popular strategy among homeowners looking to leverage their current property to increase their wealth or plan for retirement.

The process involves a step-by-step action plan developed and executed over time, with the aim of selling the current property and financing two or more properties with better potential returns in the next 5 to 8 years.

Many homeowners are unaware that they are sitting on a potential goldmine, with cash and CPF “hidden” in their current property that can be unlocked for greater returns. With these funds, the “Sell One Buy Two” concept can often be applied or other proven methods of home investment traction can be considered.

It is important to note, however, that this strategy may not be suitable for everyone. An in-depth Property Wealth Progression analysis is necessary to determine the best course of action based on individual needs.

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Other Time Factor To Consider When Selling

When it comes to selling your property, timing is key. In addition to the situation-specific factors that we have previously discussed, there are a multitude of other time factors that should also be taken into consideration.

Determining the optimal time to sell your property is not as simple as timing a purchase, and a comprehensive analysis would require an extensive discussion. However, we hope that the brief overview provided above has provided some valuable insights for your selling strategy.

Bonus for our readers

the best time to sell your property

We understand that selling your property can be a major decision.

If you’re looking to maximize the value of your property and sell it at the best possible time, We are here to help.

With a personalized approach and proven track record of success, We can guide you through every step of the selling process.

Contact Us today to discuss your options and take the first step towards a successful property sale.”

Applying is a breeze – just hit that shiny “Schedule” button.

 

Who should apply?

  1. Homeowners who are considering selling their property and want to know when the best time is to put it on the market.

  2. Property investors who are looking to buy and sell properties for profit and want to know the most profitable time to sell.

  3. Individuals who are looking to upgrade to a larger property or downsize and want to know when is the best time to sell their current property.

  4. Real estate agents who want to advise their clients on the optimal time to sell their property.

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