When Is the Best Time to Sell Your House?
Is it the right time to sell your mews house? Here’s some advice on when you should consider it.
Whether or not it’s the right time to sell your mews house in London will depend on your circumstances and why you’re planning to sell. Below, we’ve covered several of them most common reasons to sell your house and if it can be considered a good time to sell.
Rental investors have had a tough time thanks to the Government’s dislike towards private landlords. This is easily evident thanks to the Chancellor’s announcement of an extra billion pounds that was raised in capital gains tax from landlords selling their investments.
Unless you have a good reason to extract your equity, it’s often best to hold off with selling if you’re a rental investor. There are still many would-be buyers that are still continuing to rent instead of outright purchasing a home, and many tenants are continuing to renew their contracts as opposed to buying their own home.
The top end of the property market has started to stagnate, leading to falling house prices in Central London when it comes to expensive properties. This means it’s a great opportunity for you to sell your existing mews house if you’re planning on purchasing a larger home. Most real estate transactions that occur in the market are currently at the lower end, meaning that you’re very likely to find a buyer if you plan to upsize.
On the contrary, downsizing is not going to net you a good deal unless you’ve found yourself in the perfect opportunity to purchase a smaller property. For instance, if you have the perfect forward purchase or an opportunity that you can realise with your cash, it would be more sensible to wait it out until at least Spring before you make a decision to sell for the sake of downsizing.
Moving to the Country
Houses in Central London are going to continue growing in price due to inflation and population pressures. As such, if you sell your home and move to the country, you’re not going to be in a good position to buy it back in the long term. A safer bet would be to take a let-to-buy mortgage if you want to acquire a country property. This allows you to continue enjoying the improved equity growth that mews houses in Central London provide.
Buying or selling a mews house in Central London is going to require some specialist assistance. If you’re serious about the transaction then it’s a good idea to speak to an expert such as Lurot Brand. With a unique blend of in-depth knowledge and city-wide coverage, we offer a level of service that few estate agents in the city can offer.
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