For most of us there comes a time when the family home no longer suits all our needs. This is when careful planning pays dividends, writes Sarah Price.
Selling your house and moving on, it is said, rates with death and divorce on the stress levels. Being prepared can make all the difference.
First, the sale. Major steps in achieving the most realistic price in the least expensive and quickest way involve:
- obtaining a market appraisal
- choosing the right real estate agent
- deciding the method of sale
- setting a price for your home
- developing a marketing plan
- negotiating and accepting an offer
- contract signing
- settlement
The above list is taken from The Home Seller’s Guide. Together with The Home Buyer’s Guide, it is available from First National Real Estate. Both publications are useful for people thinking of moving on. As the largest national co-operative in Australia, First National exists to service its real estate members and does not profit directly from offering free advice to the public.
The appeal of using the step-by-step guide is that it is set out in a helpful, easy to follow, easy to read format based on years of experience. In addition there is no pressure involved to use an agent who happens to be a member of First National Real Estate.
The sort of pointers given when choosing your agent, for example, are personal presentation, well written professional material, good knowledge of the market place, testimonials from satisfied customers and last – but certainly not least – feeling comfortable with them? It is important to remember you will be spending quite a bit of time with the agent during the course of the sale.
Once you have decided on your agent, you will be asked to sign an agreement. Before doing so, read it carefully and be sure you understand it and your obligations. You may prefer to involve several agents in the selling of your property rather than sign an exclusive agency agreement. The danger here is that you may not get the same level of service and the sale could take longer. But this may not be an issue for you.
The next step is deciding on an auction or private treaty. Your decision here will depend on the type of property and knowledge of what works well in your area. It is important to inform yourself and not just rely on your agent’s preference. Once this decision is made, it is a good idea to sit down with your agent and work out a budget so that you have a clear idea of fees and costs associated with the sale.
There are a few things you can do to gain maximum mileage from inspection time in your home. A welcoming atmosphere is important as is a tidy garden, warm house (if cold outside), keeping pets out of the way, turning off loud music and/or the television and giving potential buyers personal space.
Once you have a sale and the negotiations and settlement are over, it’s time to consider your own needs and where you would like to settle. According to Brett Harrod, Chairman of First National Real Estate, current trends amongst baby boomers are:
- moving to the inner city
- moving to a smaller house in the suburbs
- demolishing their home and building units to bank roll their retirement
- buying into one of the new-style retirement villages (sometimes called 'resorts’ to get away from the perception they are for the very elderly).
"There is a huge improvement in services in retirement villages," says Mr Harrod. "The security, lack of maintenance and freedom to travel knowing the cat will be looked after is very appealing to some people."
Others love the idea of inner city living, continues Mr Harrod, but you can’t compare Australian cities to Paris. He points out that European countries have much tighter controls than we do on things that can make life intolerable, such as neighbours turning on the dishwasher at 5am.
"Our message to people is to look at all the options, work out what they want and weigh up the pros and cons," he says. "Staying put is not always wise but then neither is rushing into a move without taking stock. Maintaining family and friendship networks are important."
The Home Buyer’s Guide looks as basics such as defining priorities, working out what you can afford and applying for a home loan. It also explains how to read real estate pages. For example, 'ww intl bics’ is not some obscure Internet address but 'wall to wall internal build-in-cupboards’. The three-page glossary of technical, legal and building terms helps to de-mystify the process.
When you’ve found the home of your dreams, filled in your budget and action work sheets and finally taken the plunge, turn to the Moving Countdown chart. Two months beforehand, for example, drawing a floor plan of your new house helps you decide what furniture will go where. It’s also a good time to start using up food in the freezer. As the weeks go by, you tick the various suggestion boxes without suffering the 'I’m sure there’s something I’ve forgotten’ agonies.
The final suggestion on the day is, "Be on hand to answer questions, pay the driver, give direction, and examine your goods." The only thing it fails to mention is that bottle of champagne to celebrate your new start – and you don’t even need to unpack the bottle opener.
