A common concern or fear for home owners thinking about selling is whether they won’t be able to buy their next property due to rising prices.
While it’s been easy to sell properties here in Melbourne over the last few years since Covid-19 hit, the big risk has been that with prices rising almost every day or week, vendors were scared that the price of their next home would be quickly beyond their reach.
In this video, I discuss this subject and give you my thoughts on it.
You might be pleasantly surprised at what I say.
This video segment was pulled from a long interview I did back in Feb 2022, where I answered a heap of frequently asked questions (FAQ) about real estate.
Once you’ve watched the video, let me know your thoughts and any extra questions you have on the topic in the comments below.
Note: The video was filmed in portrait mode rather than landscape, which is why it is narrow rather than wide. For the best viewing experience, I recommend you click the Full Screen mode button.
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Well, I’d like to assume that your agent has got you a great price for the property you’ve sold.
That would be a good, that would be a good assumption.
The risk is though, there was a stage there where you had to be buying pretty much as soon as you had an offer accepted on yours.
So there was a time, where, and we’re not seeing it quite as much now because there is a little bit of movement and a little bit of shift in the market.
But when the market was running, and it was literally every sale was going higher than the one previously, like we’re talking in a matter of days, that was a very real risk at that, at that juncture for home sellers.
They had to pretty much have identified the property they wanted to sell.
Sorry, wanted to buy, before or as they were signing the contract to accept an offer on their property to be in that consistent market space.
Fortunately, it’s calming down now.
That real sting has gone out and the market is a little bit more fair play.
But you still don’t have a lot of time to overthink.