It is worth remembering that your home is an investment. When you come to sell it, you want to make sure that you are going to get the best return on your investment. However, unlike other investments, the best return might not be when your house is worth the most.
When your house is worth the most, other properties will also be worth more, and if you are looking to upsize or downsize then there will be very different times to sell. The more your home is worth the more the difference between relevant house prices will be. If you upsize in a boom then the chances are you will have to add a great deal more money to your purchase, whilst if you downsize at such a time, the difference between the price you sell at and the price you buy a new property for could be great. Therefore, downsize when property is at its highest and upsize when house prices are low.
The other option is to sell when house prices are at their highest and rent for a while until the markets crash. However, to do this you may need a very good grasp of the current market or at least some advice from the very best estate agents.
The best estate agents may also be able to advise you on whether renting out your current property may make financial sense as doing so can offer you a great source of income and a great potential investment if you are able to afford a new house without selling your own.
Finding local estate agents that are right for you is going to be the most important thing if you want to get the best deal for you at any time. Local estate agents will know the market in your exact area as well as understanding the market as a whole, giving you a unique insight into the best time to sell, rent or simply stay put.
