This is a very popular question asked by many over the world and in South Africa.
The common rule of property is to buy low and sell high. In other words, to buy at the lowest price and to sell at the highest price, isn’t rocket science. This means that you need to get the timing right for the market by keeping a close eye on the market to see how it performs so that you get in when it’s a buyer’s market and sell when it’s a sellers’ market.
The property market follows cycles going up and down. These cycles are usually correlated to the country’s economic cycle. It’s important to keep in mind that the property market is not homogeneous, meaning that the performance differs from location to location. Where one can be experiencing a decline in market performance, others may still be in balance or even experience huge market growth.
The following comments have been made by an analyst from Seeff regarding timing:
“There is therefore no real right time to sell. The right time to sell is unique to each seller and depends on the seller’s reasons and motives for selling. Thus, regardless of the state of the property market and economy, sellers can continue achieving sales and even good prices."
If profit is your main motive, then you will want to sell when the prices are high, and buyers are aplenty. If on the other hand, your financial position has improved and you want to upgrade to a better neighbourhood or house, then any time is the right time to do so.
“Remember, you are selling and buying again. Holding out for a higher price might mean that you too will have to pay a higher price for your next property.”
There are plenty of other reasons for people to sell their property. This includes people who are looking for property to be closer to work. Again, if you wait out too long, you will also have to pay more as areas closer to main arterials or those that offer reduced travelling time, tend to sell for higher prices, regardless of the market cycle. This is because of the increase in scarcity—simple supply and demand.
If you are looking to sell your property to buy your next to make a profit out of the investment or if you are selling for whatever reason QuickBridge can help you get your money earlier.
We are all familiar with the fact that the paperwork and registration can take up to months before you receive your money from selling your property. This waiting period often causes individuals to miss out on opportunities that they encounter. This might be to buy their next dream property or use the money for other business. QuickBridge provides quick bridging finance for business and private individuals. Our short-term loans focus on property bridging transactions as well as other high-yielding financial opportunities. Receive up to 75% of your money to be delivered from the sale.
Visit QuickBridge for more information.