It is said that properties are secure investments.
Circumstances have changed, and the space which was once so important for a family has become much too large for the owners’ current needs. Many owners experience this; when their children leave home, they suddenly require much less space. Age-related changes also frequently play a role when an owner makes the decision to sell. Perhaps they are no longer motivated to spend so much time taking care of their garden. Moving from the suburbs to the centre has clear advantages, such as shorter commutes to cultural events, closer proximity to medical care and not having to rely on a car. The necessity or desire to have accessible living space has a large impact on such a decision. If a smaller apartment or change of location is more suited to your current circumstances, we are happy to take care of the sale of your property.
Ownership does not only have advantages. Some owners experience enormous disadvantages resulting from ongoing maintenance costs and therefore decide to sell their properties. As a property becomes older, it requires more and more investments. Lives and priorities can change. Renting out a property often becomes a burden for owners, which is why they decide to sell.
Separations are also one of the main reasons why properties are sold. Circumstances sometimes change quickly and if relationships cease to exist, mutual living space is no longer required.
A further reason for selling is when a partner passes away.
Inheritance leads to numerous considerations, including a change in place of residence. Those who already own a property and inherit another, but are not interested in leasing, might decide to sell their current or inherited property. In this case, factors such as dissolving communities of heirs or buying out siblings might play a role.
The crisis taught us how quickly circumstances can change. Losing a job, high additional costs, constant repairs and renovation work all put strain on peoples’ budgets. Selling a property is a suitable solution for many owners. Even in this case, it is advisable to stay calm and aim to achieve an adequate price for your property. Strokes of fate, such as the death of a family member, unemployment, inability to work, personal insolvency, etc., might result in owners having to sell a property.
Even during a financial emergency, you can successfully sell your property with the help of an experienced real estate agent.
Changing jobs or locations often means a property needs to be sold. For example, you might have a new job which is so far away from your current place of residence and the location of your property that it is not worth keeping the property. In this event, many owners make the decision to sell so that they can buy another property close to their new workplace. In addition, it is often the case that the owner requires an adequate home office, which is why they need to find a larger property.
If the property was purchased to generate medium or long-term profits, the realisation of gains plays an important role for the owner. In this case, it is important to wait for the right moment to secure the best terms for the sale. Each of life’s stages has its own requirements. Shifting assets or investments in the second important stage in life prior to and upon retirement must be considered when it comes to realising gains.
Your Engel & Völkers Team
Alpine Region Tyrol & Salzburger Land