With the current market in mind, Henry Wong from Harcourts Beyond discusses when is a good time to buy or sell a home.
“Every week, we have a lot of homeowners, buyers and sellers that ask us, “What’s happening in the marketplace? Is it going up? Is it going down? Is it flat-lining?” What I can tell you is, with this current environment, we look at things week to week, after from April onwards. And we see where the heck the market’s going. Now, we know because we actually see the offers that come in through, when buyers make the offer.
Now, to be honest, there’s actually a bit of uncertainty in the marketplace, with the election coming up in United States in November, and also with what’s happening for our largest trade partner, China. What I can say is if you’re looking to sell, so you’re looking to sell and then buy in the same marketplace, it doesn’t make much of a difference. The same as if you’re looking to buy and then sell your home, that too, doesn’t make much of a difference.
Now, if you’re looking to buy, if you’re a first homeowner or you sold your house, you’re currently renting, and you’re looking to buy, you’re going to say, “Look, Henry, when’s a good time to buy? I want to buy when the time is right, when the pricing is right.” Now, what I can tell you is interest rates right now is actually very, very low. It’s possibly at an all-time low, and it’s not going to stay low forever. What goes down in interest rates eventually goes up. So now is actually a very good opportunity to buy.
Now, obviously you need to reassess your own financial situation with your accountant or financial planner, but no one can pick the top, no one can pick the bottom. The most important thing is when you sell and when you buy, the timing has to suit you.”
Award-winning real estate agent Henry Wong and his team are based on the south side of Brisbane. Get in touch with them with all your real estate queries.