Stay Or Sell? Advice For Homeowners At A Crossroads

The pandemic has turned the world on its head, and many of us have reached a crossroads where we’re thinking about changing direction. From new jobs and a change of career to a new home, lockdown has prompted us to rethink, as well as flagging up practical issues. With more and more people working from home, there has been a surge in the demand for houses with gardens and countryside retreats, as well as homes that have space for offices and gyms. If you’re deciding whether to stay or sell, hopefully, this guide will come in handy. 

The pros and cons of selling

Buying and selling houses is a notoriously unpredictable process. Some owners sell their properties without even putting them on the market, while others wait for months or years to get a single offer. If you are considering selling, it’s wise to analyse the market, keep an eye on the headlines and get some valuations. It’s essential to remember that valuations don’t necessarily mean that you’ll get the asking price. If you have three agent valuations, it’s usually best to aim for the middle ground. A house is only ever worth what a buyer will pay for it. 

If you decide to put your home up for sale, research agents, ask for recommendations, read reviews and compare prices and service packages. The most common way to sell a house is to hire an estate agent to act on your behalf but there are alternatives. You can use online agencies or search for cash house buyers if you’re eager for a quick, fuss-free sale. Selling at the right time may give you the opportunity to make a substantial amount of money and open doors in terms of changing your lifestyle, exploring new locations and finding a home that works better for you. 

The pros and cons of staying

If you love your home, or the location or size is perfect, you might be reluctant to move. There are several factors that can influence the decisions we make when choosing whether or not to stay in the same home, including space, lifestyle and the connection we have with our homes. If your home is your sanctuary, but you’ve run out of space, there are solutions to consider. If you don’t have that emotional connection and there are issues that are getting to you, it makes sense to move. 

Ideas to think about if you are short on space or your home isn’t practical include changing the layout to open up rooms, adding an extension, converting a loft or basement and investing in a garden room. These projects vary in price but will almost certainly add significant value at the same time as increasing your living space. Before you make any decisions, get a series of quotes, research reputable building firms and discuss plans. 

Are you at a crossroads? If you can’t decide whether to stay or sell, it’s essential to take your time to explore different avenues, weigh up the pros and cons and think about which option would suit your family best. 

*Collaberative post*