Should I sell my house or stay? Weighing up the pros and cons
By Amanda Scali

17/11/2016 12:00am

Should I sell my house or stay? Weighing up the pros and cons

Should I sell my house or stay?

There are times when the decision to sell one home to move to another is clear-cut and, therefore, relatively easy to make.

At other times for a variety of reasons you may find yourself agonising over whether to sell your home and move on or stay put for now.

To put matters into context, talk to an experienced local real estate agent for advice about the state of the market and a valuation for your current home.

The grass-is-greener blues

Does it seem like everyone has a nicer home than yours, that yours will never look as good as those in real estate ads and that the only answer is to move to a better house?

Before you do, consider the costs of selling and buying again. One of my earlier articles covers this, namely, When I sell my house, who pays what? The facts about fees, charges and taxes.

If the structure and configuration of your current home are sound, could you better invest those costs in remodelling, redecorating and/or landscaping?

Even if the comparison is break even, you will have avoided the stress and upheaval of moving and you may even finish up with the best house in the street.

But if the costs of upgrading your current home outweigh those of moving, it makes sense to search for the perfect home to move into without the inconvenience of living on a work site.

The big squeeze

Those with active and growing families who find themselves constantly under pressure for space should consider the future to decide whether they should sell and move now.

When children are very young they can take up quite a lot of space, but teenagers with hobbies and visiting friends can really put a strain on relationships if there is not enough space to accommodate everyone.

While young children will be at home for many years to come, older teenagers can be expected to fly the coop (if only temporarily) for education, employment or travel in just a few years.

Is it worth selling and moving to a larger home now, when perhaps your nest will be somewhat emptier not so far down the track?

Could it be cost effective to extend to create an extra bedroom or hobbies room and an additional bathroom?

Get quotes and do the numbers to help you decide whether to sell and move to a home that will accommodate your family now or stay put and extend.

My life would be better with a better house

It’s a human habit to fix upon one niggling cause for all the ills in our lives.

If you want to sell your home because you are miserable in it, take a reality check to make sure you won’t be taking your misery with you.

If it’s poor health, an unfulfilling job, fractious relationships or strained finances that are the real source of your unhappiness, selling and moving aren’t going to improve them.

On the other hand, if an illogical layout, badly lit rooms, narrow staircase or poor-quality fixtures in your existing home have bothered you from day one; moving on may be just the thing to lift your spirits.

There went the neighbourhood

Even if you are happy in your home, the actions of thoughtless or rowdy neighbours can make you unhappy in your locality.

If you have pursued all the informal and official routes to curb the unsociable behaviour of your neighbours to no avail, it may be time to consider moving.

To ensure you don’t leap from the frying pan into the fire, do your homework on the neighbourhoods of potential replacement homes.

While less-than-neighbourly types can plague any street, those containing homes that are predominantly owner occupied are less likely to suffer from this problem.

Should I sell my house or stay? When the pros outweigh the cons talk to the pros

McGrath Real Estate’s agents have seen and heard it all when it comes to selling and buying in Adelaide’s western and coastal suburbs.

We can talk you through your decision-making process so you can be sure that selling now is the best option for you and then work with you to find the best home to fit the current needs of you and your family.