Everyone goes on and on about how difficult it is to buy a house these days, but what about the travails of selling a house? Why does that never get any airtime? If anything, sellers are cast as the villain of the piece, selfishly driving up prices and prohibiting youngsters from breaking into the property market. In actual fact, some of us are out here trying to figure out how on earth we’re going to recover our investment – that’s if we can sell the house at all, in this climate.
Here’s the thing. A lot of us have worked our butts off and played a long, demanding game of saving and sacrificing in order to arrive at the point of being able to buy a modest house in the ‘burbs to raise our kids in. Granted, some of us might have gotten in ten years ago, just before the property bubble blew up big-time and the banks tightened up on loan approvals. But that doesn’t mean we’re rolling in it; it’s all relative. No one ever feels they’re getting what they’re due when it comes to property ROI; trust me.
It’s hard because you want to save money, but you also want the right people involved in the transaction. Like, you don’t want to skimp on choosing a company for conveyancing and settlement. Melbourne has plenty of firms that do this, but a smaller number that are going to keep you adequately filled in on what the blazes is happening with your life savings.
That’s right – you know all those ‘hidden extra’ costs that buyers have to contend with? Well, sellers have those as well, and then some. For example, both parties generally need to pay for licensed conveyancing services. Collingwood houses might seem like they’d sell themselves, but I can tell you for a fact that they don’t, so vendors usually need to pay a real estate agent. And don’t even get me started on the year-long process of getting the house up to scratch to compete in the market – there goes any profit you might have been hoping for.