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When Is The Right Time To Sell Your Property?

When Is The Right Time To Sell Your Property?

When Is The Right Time To Sell Your Property?

In the stock market, there is a saying: “Those who only know when to buy are just amateurs; those who know when to sell are the true masters.” In the property sector, the same principle is just as relevant.

Identifying the right time to sell one’s property is quite a difficult task. A series of factors need to be taken into account when deciding on whether to sell a property or to hold on to it. Potential home sellers can certainly be in pole position ahead of the rest by arming themselves with the right knowledge on how to time their sale better to reap more profits.

Nevertheless, the right strategy can make the sales being on a right track.

For example, if you hold on to any property long enough, you will see noticeably good ROI (Return of Investment) when you sell it in the future.

It can be harder to sell now because the market is more competitive – with many property agents getting more skillful in selling properties. Furthermore, there are even more advertisements featuring lower priced properties in the same area.

On the other hand, when supply is booming, this is the period when properties prices reached their peaks and everyone is eagerly buying. For an instance, buying sub-sale property with good rental yield. This property must be easy to hold until the next wave of capital appreciation comes around. In contrast, buying a newly- launched project to flip at this time is not a good idea because it may not be able to fetch a good price in the coming two cycles.

 

Conduct A Property Valuation

Selling a house in a slow market amid a tight lending environment can be very challenging. It is advised that property owners should set realistic asking prices that reflect the current market. In order to find out the right price for a property, owners can consult banks to get a valuation on their property, which is free of charge. Owners can also check the latest transacted prices of similar properties in the area through property portals, or from the Government’s Valuations and Property Services Department (JPPH) or agents who are familiar with the area.

In conclusion, ascertaining the right time to sell a property is necessary. This way, you will have maximum buyer demand and will be more likely to achieve a premium price.

 

Ask yourself. Is now the RIGHT TIME to sell your property?

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The Rock City Property Mentor

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