When is the right time to move or to sell?

To move, or not to move is often the question that existing home owners have to grapple with, especially if they are an expanding family, or an older couple faced with an empty nest, according to the Seeff Property Group.

Home owners are often approached by estate agents enquiring whether they want to sell, usually because there is a demand for homes in the area for a variety of reasons. It could for example be an area with good schools and many older buyers where younger families want to move into the area for access to the schools.

By not selling, the homeowner may be losing out on a good price, and the opportunity to create a more fulfilling life in the golden years, according Seeff. Holding onto a big, empty house means a lot of work and cleaning, and it might not make sense to hold onto empty rooms which are never used.

That said, it is a life-changing decision. Seeff says these are some of the reasons why you should consider selling:

• The nest is empty. If your children are out of the house and you are left with a big, empty house and lots of cleaning to do, then it may be time to scale down. Moving out of your big family property to a smaller home is often just the lifestyle change that older people need. It will generally also free up some cash to take a trip of a lifetime, or enjoy a better quality lifestyle.
• Better access to schools. If you have children in school and have to commute long distances in heavy traffic, it may be more economical in terms of time and cost to move to an area with easier school access. Young people looking to start a family should factor schools into their buying decision as it could save the hassle of having to sell and move elsewhere later on.
• Moving closer to work. Another big headache could be the daily commutes to and from work, especially with the rising traffic problems in the cities. Good access to main arterials could be a solution for some. Others may gain from actually moving closer to their place of work. In some instances, you may need to downscale as homes closer to work may be more expensive.
• Is it time to upsize? If you are a growing family, or if the need arises to make space for a parent, it might be time to move to a bigger home. For some, a better job or salary increase could also offer the opportunity to move to a bigger home, or a better neighbourhood. Rather than expanding and renovating, it might actually make sense to rather move to a bigger home.
• Should we downsize? There seems to be a growing trend towards a simpler lifestyle and enjoying more free time. This has led some people to trade their big suburban home for a more compact apartment that overlooks the ocean where they could take leisurely evening strolls, or cycle over the weekends. Often, these homes in the sky mean a cut down on maintenance, more security, and a better quality lifestyle.
• Should we move to the country, or an estate? A small country town is often sought by younger families looking for a wholesome environment to raise their children. Similarly, many older people look to get away from the busy cities to a quieter country or seaside town. Estates have become a sought-after alternative as they often offer lifestyle benefits, and security, yet still with good access to the city.

Writer: Gina Meintjes