New Year, New Home: How to Set Property Goals for 2024
If moving could be on the cards for you next year, now’s the time to set some goals to help turn your property dreams into a reality.
Perhaps you’re feeling squeezed in your current home and want more room. Or maybe you’re an empty nester rattling around a place that’s too big for your needs and costly to heat.
Whatever your motivation, it’s important to remember that selling and buying property requires planning and organisation and can sometimes take longer than expected.
Setting some property goals can streamline the process for you. Here are some tips to help you do so.
Create a timeline of important dates. Include key deadlines, such as the closing date for school applications, and important celebrations, like Christmas. Once you know when you want to be in your new home by, you can work backwards and reverse engineer your selling and buying strategy.
- If you’re considering downsizing and moving to a new area, spend time in the location you’re keen to call home. Weigh up the pros and cons of starting afresh and consider issues such as maintenance, costs, storage and proximity to family. Also, speak to a professional about the financial implications of downsizing.
- Speak to a few estate agents to sound out the health of the market and get a clearer idea of how much you can realistically expect to get for your property. This will help you set a budget for your next home and allow you to research properties in your chosen area.
- Have a clear-out. Every property looks better and feels more spacious after it’s been given a good declutter and a fresh lick of paint.
And there’s one other option:
- If space (or lack of it) is your concern, you may be considering extending instead of moving. To get clarity over which option would be best, speak to a few builders and get them to quote for the work (you may be surprised at how inflation has bumped up building costs). You can also talk to an estate agent to see if the works will add value to your property and make it more marketable in the future.