- Wed 04 Jan 2023
As the start of the year arrives and resolutions begin, it is often the case that larger plans are being talked about and in some cases put into action. One of these larger plans could be moving home and with that often comes the follow up question; when would be the best time of year to move?
There are many things to consider before just taking the plunge and moving home;
What are your reasons for moving and are they realistic to achieve?
Have you got a home to sell before buying a home? How much is it worth?
If so, do you have a mortgage to take into account and will you incur any penalties should you look to move before the end of the mortgage term?
Can you afford the type of home that you would like to move to?
Do you need to make any improvements to your home before moving?
It is essential to undertake some research before just committing to a move that may not be achievable, much of which can be done online and by speaking to a few key people; mortgage lender to check the position with any existing deal, a broker to check the full extent of your affordability options, an estate agent to get a realistic value for your home in the current market and also to explore the type of home you are looking to buy and identify their approximate values.
Taking all of the above into consideration, the time of year may well be decided for you. For example, if your mortgage product doesn’t expire until the end of the year, you may find that marketing your home before the summer would be too soon.
Should you find that you are not governed by a particular timescale, then you may wish to look at factors such as whether prices are likely to rise or fall in both your current location and the location you are planning to move to. 2023 is likely to see more localised markets where the supply and demand will determine the impact on prices so this will mean discussions with local experts will be key.
Essentially, the answer to the question is; when it best suits you! As Estate Agents, we all too often hear “I wish I had made the move years ago” and it is far easier to put decisions off, although the benefits of you moving can be enjoyed far sooner if you don’t!
At Bradleys Estate Agents, we have over 30 offices covering Somerset, Devon and Cornwall all of which offer both sales and lettings services and are able to provide you with information and help should you be looking to make a move in 2023. Please contact your local team today who will be delighted to hear from you.