4 Tips For Selling Your Mornington Peninsula Property Early In 2022
Crystal-ball gazing is always fun at this time of the year, but the 2022 property market is so tricky to predict that we should first contemplate the runaway success of the previous 12 months.
Property value on the Mornington Peninsula has risen dramatically in value in recent years. Last year, our listings were being snapped up within 26 days on average.
With Covid continuing to impact everyday life, the pandemic will be another factor to navigate when purchasing real estate again this year. The lowering of previous levels of economic stimulus may effect the high levels of buyer competition that was experienced in 2021, though there are no signs of this happening yet so we may continue to enjoy a strong market on the Peninsula. Other factors, such as the upcoming federal election, may also impact the property market in the local area.
So if you’ve been thinking it’s time to sell, going early in 2022 could be a good strategy to cash in on the recent price jumps.
So, what to do? Here are some ideas to help you focus your thinking.
Don’t Overthink It!
Trying to time the market for profit is a perilous pursuit. The fortunes of the property sector can swing around in a matter of a few short weeks, if not days. So, don’t exit the market and rent a place to wait for the crash. If you’re going to sell and buy, then get committed and see it through. If you've made the decision to make a move then plan the time around what best suits your circumstances, not around market predictions that may change.
In Your Own Time
Don’t rush into a decision. The market’s current stability doesn’t necessitate that course of action. Make sure the timing of your sale and subsequent purchase is one that works for your personal circumstances and doesn’t throw the family, or your professional life, into chaos at the worst possible time because you’re chasing some ‘timing the market’ unicorn.
Prepare Meticulously
Focus on what you can control – which is maximising the value of your property before you sell. If you’re thinking of renovating ahead of a sale, bear in mind quality materials and tradespeople are in big demand and so it may take longer than you intend and cost more. We can guide you on the tasks that make a difference for prospective buyers and help you set a budget. It always helps to speak to your agent prior to starting a renovation if you're presenting for sale, we see hundred's of buyers each week and there's often a common theme in what they're looking for in the local area.
Be Ready To Pull The Trigger
Don’t be lulled into a false sense of security when you bid for a property and assume that because you’re selling it will all work out. Property is still a competitive business, and you should assume there’ll be rivals wanting to buy your next dream home. In that scenario, it’s essential to have your finances organised so you can act quickly and be in a position to make an attractive offer without too many conditions.
Abode Peninsula is an authentic family owned real estate agency which was established in 2010. Our dedicated team work with integrity in all areas of real estate, aiming to help our clients achieve premium results. Our property knowledge and services are in demand across the Mornington Peninsula and beyond!
It's our personalized, holistic approach to marketing and managing properties that has built our reputation for exceeding expectations amongst Mornington Peninsula communities. We are incredibly proud of the quality of service every client receives; it is the care and attention to detail provided that helps us build long-lasting relationships that we cherish. We have found it is the kind referral of these clients to their family and friends that is integral to our agencies success.
Our property services include residential property sales, residential property management, commercial sales/leasing, business sales & off the plan developments. For anything real estate please contact our office anytime for assistance.
