Important things to consider when you’re moving home
For those of you who watch the TV programme Wanted Down Under, you will have seen my face pop up, as I valued the property of a young family who were looking to make the huge move to Australia. The programme allows families to get a taste of life in Australia by investigating possible homes, jobs and the lifestyle. Although moving to the other side of the world is not on the cards for everyone, when looking to moving home you still need to ask yourself the same questions.
As in many cases, the couple featured in the programme thought their house was worth more than it actually was. Many factors come into play when valuing a home, and there can be a ceiling price for a particular area, where no matter how much you have invested in improvements, renovations and extensions, you will only be able to achieve a certain value for your property. However based upon current market conditions, the value of their property has definitely increased since I valued it last summer.
Property prices fluctuate, things can change monthly, and without an up to date appraisal you will be making financial decisions in the dark. Your whole move could be impacted by the expected sale price of your home; call our local office today so you can start the process knowing rather than guessing.
New employment opportunities could be the cause of your move, but remember any move is all about location, location, location. Commuting can have a huge impact on whether the move is a success or a failure, and the shine of a new home can quickly fade if you are constantly sat in traffic.
The great thing about South Wales is that you are close to a major city, and we have the countryside on our doorstep. We are an amazing, passionate and proud nation with a dramatic landscape, where each community offers something different to its residents.
Your home can also project a certain lifestyle, so if you’re selling your home try and maximise its key features as well as presenting it in a way that will attract potential buyers.
Cost of living
It is always interesting to see families compare the costs of living in Oz to the UK in Wanted Down Under, because no matter how amazing the homes, jobs, and lifestyle, if you can’t afford to live, the dream is over before it has begun.
Financial pressures can take their toll on us all, which is why budgeting for every aspect of not just your move but daily life is essential to do before you start the process of buying or selling a property. Rules for lending are much tougher than they used to be, to ensure you can afford to pay your mortgage today, but also if the interest rates change.
It is not just your mortgage you need to take into consideration, but also any increase in travel costs – or maybe even a decrease, if you’re travelling to Bristol. With regard to employment, if you are thinking of changing your job, will this likely incur a salary increase or decrease? Family activities, clubs, social life as well as your weekly shop all need to be taken into account, as moving home has wide-ranging financial implications.
Family and friends
Even the strongest of men will struggle when messages from friends and family are shared, and the family understand how their move will affect those they love.
You could be moving from a tight-knit community where you know everyone to an area where you will have to start from scratch. Any move will, in effect, mean you are starting again, and you are not just saying goodbye to your property, but also those that surround you.
No matter where you are ‘wanted’, Hathways is the right choice for the right time