When you relocate to a different town or a different country, you're often faced with a tough choice. Should you sell your home, or should you hold onto it when you leave? There are good reasons to do both, and making the wrong call lead significantly impact on how things go when you begin your new life elsewhere. In particular, some people hesitate to sell because they're worried about all the hassle and time-consuming complexity.
The great news is that as a cash buyer, we can make sure you sell your home quickly and easy before you move out of town. In this guide, we'll look at why you might want to sell and why you might want to hold off. We'll also explore the costs associated with moving, and answer some of the most frequently asked questions about selling up before relocating.
There are dozens of explanations for why you might be relocating at this point in your life. Perhaps you've found the job of your dreams elsewhere, you want to be closer to family, or you're just ready for different scenery. Regardless of why you've decided to emigrate or just move out of your current city, you'll be thinking about the question of how to sell your house quickly and get the most money for it.
As a property owner, you have lots of different choices when it comes to selling up. You can list your home for sale, auction it, or go the traditional route and use an estate agent. Alternatively, you can use a cash buying property company like us, who promise efficiency and transparency. From when you contact us, it can take just 7 days to complete a cash sale. As a bonus, there are no hidden fees to worry about, and we take on the task of valuation and paying necessary legal fees. This means that all the hassle of arranging viewings and so on is completely out of your hands.
However, you might not yet be sure that going with a cash-buying company is the best move for you right now. To that end, let's consider what you need to do (and what it will cost) if you choose to approach the sale in one of the other ways listed above.
If you want to get the highest sale price and sell quickly, take steps to make the property maximally presentable. For example:
The cost of selling your house will differ depending on the method you choose, where you're going (e.g. out of the city or out of the country), the status of your mortgage and whether you're required to pay capital gains tax. If you go with an estate agent, 1-3% of the house's sale price will be taken as a commission. Meanwhile, if you use an auction to sell the property, this will cost up 2-3% of the total price of the house (not including the cost of solicitor's fees). Property buying companies like us don't charge you fees.
There's also home removal costs to consider. You can lower this by decluttering, and selling things you don't need in advance of your move. However, if you're traveling a long way, the cost of moving your possessions can really add up.
You might be confused about whether you'll need to pay capital gains tax, or wonder how much you'll likely have to pay. In brief, if you're selling your main property and it is on land that is less than 5,000 square meters then you don't need to worry about capital gains tax. However, if you're not exempt from capital gains tax then you will need to factor this into your expenses. You'll have a tax-free allowance, and then after there will be a basic rate of 18% that applies you any capital gains you make. We can answer some of the basic questions you might have about capital gains, as we've dealt with a wide variety of cases involving both exemption and taxation.
As is obvious from the above information, there are lots of factors that will go into determining whether it's better to keep or sell your home when you relocate. For those who are financially stable or have a good plan to rent out their property after relocation, keeping the property may be an attractive option. However, the majority of people who are emigrating or relocating could really use the extra cash that comes from selling up. Indeed, in some cases, you might not be able to relocate without the money generated by a sale.
Even if you don't absolutely need to sell, be sure to factor in the costs when considering keeping your home. You'll still need to pay for its upkeep and maintenance while it sits empty, and over time it will drain away money that you could have used to improve your new life in your new home. In most cases, selling your home is the best choice when you relocate. If you're not sure and would like to talk over the details, a member of our team would be happy to advise.
This varies by circumstance. For most people, selling a property before emigrating to relocating is simpler and provides more peace of mind. You have the money from your sale, and you can focus on developing and enjoying this new stage of your life. However, those who have someone to live in or check in on the property may sometimes want to wait until after emigrating or relocating.
Even if you've made extensive preparations, it's always possible that you won't be able to sell your property - especially if you need to do so quickly. There are a range of different reasons why this might happen, including the current market conditions, inappropriate pricing (i.e., pricing your home too high or low), or ineffective advertising. Often, using a quick cash buyer rather than a traditional estate agent is the ideal solution for a house that isn't selling.
We can buy your house from you in a matter of days. After asking you a few basic questions we can conduct the research required to make you a quick cash offer (which you're under no obligation to accept). We'll organise a valuation for no extra charge, and you'll be free to move on to your new city or country with the money from your sale.
We pride ourselves on a policy of no additional fees. One of the main reasons why people opt for property buying companies like us instead of going with traditional estate agents is that the latter almost invariably end up charging you extra money as you proceed towards a sale. We make you an offer free of charge. At best, this results in a quick, easy sale for a good price. At worst, you leave with some advice on handling property sales.
Yes. With the help of our staff at Property Buyer, you can sell your house in the timeframe that you need in order to move abroad or relocate. We've dealt with a wide range of emigration and relocation cases, and we’re well equipped to answer any questions you might have about your particular circumstances.