| Why Today’s Property Market Could Work in Favour of Upgraders |
| Your next move may be closer than you think. If you’ve been considering upgrading your home perhaps you need an extra bedroom, a larger backyard, a dedicated home office or simply a better location you may be wondering whether now is the right time to make your move. With borrowing costs, limited housing supply and ongoing economic and policy changes creating uncertainty, it’s understandable that many homeowners are choosing to wait. But the property market isn’t simply “good” or “bad”. For homeowners who are selling and buying in the same market, today’s conditions can create opportunities that are easy to overlook. You’re selling and buying in the same market One of the most important things for an upgrader to consider is that you are generally selling one property and buying another in the same market. If the value of your existing home has softened, there is a reasonable chance that the property you are looking to purchase has also been affected. This can be particularly significant when upgrading into a higher-value property. For example, a change in value on a $900,000 property can have a much greater dollar impact than the same percentage change on a $500,000 property. That means the focus shouldn’t simply be on achieving the highest possible price for your current home. It should be on the overall cost of making the move. “Trying to time the property market perfectly is almost impossible. If you’re both buying and selling, you’re operating in the same market. The focus should be on finding the right home for your next stage of life and having a strategy that puts you in the strongest position.” — Jonathan Graham, Kerr Real Estate Lifestyle doesn’t always wait For many homeowners, upgrading isn’t purely a financial decision. Families grow. Children need their own space. Working arrangements change. Grandparents may move closer. You might want a larger entertaining area, a home office, more storage or a property that better suits your lifestyle. These needs don’t disappear because market conditions are uncertain. Waiting for the “perfect” market can sometimes mean putting off the benefits of a better home for years and there is no guarantee that the market will ever reach a point where everything feels completely certain. Today’s buyers are more considered There is no doubt buyers are more cautious than they were during some of the stronger periods of the property cycle. They are researching more, considering affordability carefully and taking their time before committing. For sellers, that makes presentation, pricing and strategy more important than ever. A property needs to stand out, be positioned correctly from the outset and be marketed to the right buyers. In a more considered market, experience and local knowledge can make a significant difference. Quality property remains valuable While some homeowners have delayed selling due to economic uncertainty, the supply of quality homes remains an important factor across many markets. Well-presented properties in desirable locations continue to attract attention because buyers who are ready to move still need somewhere to live. For upgraders, this creates an important opportunity: be prepared to act when the right property becomes available. Knowing the likely value of your current home, understanding your borrowing position and having a clear idea of what you want to purchase can put you ahead of other buyers. Don’t let market noise make the decision for you Interest rates, government policy, planning changes, taxation and broader economic conditions will always influence property conversations. But none of us can accurately predict where the market or interest rates will be six or twelve months from now. What you can control is your own position. You can understand what your current property is worth. You can establish your borrowing capacity. You can determine what your next purchase may cost. And you can develop a strategy for selling and buying that works for your circumstances. The real question isn’t “Is the market perfect?” A better question is: “Does my current home still work for me, and what would it take to move into the right property?” If the answer is yes, it may be worth exploring your options now rather than simply waiting for the headlines to improve. The best time to upgrade isn’t necessarily determined by interest rates, median prices or market forecasts. It’s determined by your circumstances, your goals and having a clear strategy. Thinking about making your next move? If you’ve been considering upgrading, start with understanding your position. As a local real estate professional, Jonathan Graham – 0405506670 of Kerr Real Estate can provide an up-to-date assessment of your current property’s value, discuss the likely selling conditions and help you understand what your next move could look like. There is no obligation to sell, sometimes the most valuable first step is simply knowing your options. Local knowledge. Honest advice. A strategy for your next move. Kind Regards,  Jonathan Graham Sales Agent | Auctioneer 0405 506 670 jonathan@kerrrealestate.com.au |
Why Today’s Property Market Could Work in Favour of Upgraders
