Selling your home in later life: what owners should consider at an early stage
By planning ahead, realistically assessing the market value and preparing the sale professionally, you can create the best conditions for a successful next stage in life.
The house has become too big, maintaining it is becoming increasingly burdensome, or living needs have changed: in old age, there are many good reasons to consider selling the home you’ve lived in for many years. However, such a step needs to be carefully planned and considered. After all, as well as holding many memories, it usually represents a substantial asset.
Don’t wait until it becomes urgent
The right time to sell depends on your personal circumstances. Those who explore their options early on give themselves room for manoeuvre: where do I want to live in future? How much space do I still need? Should the home be passed on within the family? And what financial consequences would a sale have? “If you plan ahead, you can consider various options at your leisure,” explains Thomas Graf, an experienced estate agent from Bern. “Time pressure is rarely a good guide when selling a property.”
What is the value of your home?
Once the decision has been made to sell your home, a realistic valuation is one of the most important steps. Particularly with a house that has been in your family for decades, personal sentiment and actual market value do not always go hand in hand. The market assesses a property based on its location, plot size, living space, condition, standard of finish and current demand. Even past investments do not automatically increase the current market value to the same extent. “A market-based selling price isn’t something you can just guess at,” emphasises property expert Thomas Graf. “A professional valuation provides an objective basis for decision-making – regardless of whether the property is actually sold in the end.”
Professional support takes the pressure off
Start with the highest possible price and reduce it later? When it comes to the right sales strategy and professional documentation and marketing through the appropriate channels, it is worth relying on the expertise and experience of a qualified estate agent. “The first few weeks of marketing are particularly valuable,” says Thomas Graf. “You should capitalise on this attention with a well-thought-out pricing strategy.”
Anyone selling their long-term home is opening their front door to strangers. Professional organisation and the selection of serious prospective buyers protect your privacy and avoid unnecessary viewings. For older owners in particular, it can be a relief to leave viewings, answering questions and negotiations entirely in the hands of a reputable estate agent.
Think about the time afterwards too
A successful sale also involves looking to the future: where is your new home? When can you move in? How will the sale and the move be co-ordinated? And how much will actually be left over after the mortgage, ancillary selling costs and taxes? In particular, capital gains tax and existing mortgages should be checked at an early stage. For tax and financing-related questions, it is advisable to seek personalised expert advice. Selling your home means saying goodbye, but it also opens up new possibilities: less maintenance, a more suitable living situation and greater freedom for the next stage of your life.
Expert property advice from a single source
“The aim isn’t simply to sell a property,” summarises property expert Thomas Graf. “What matters is that the owners can say at the end: it was the right time, the right price and the right step for our future.” The team at thomasgraf ag will be happy to advise you on any questions you may have regarding the sale or purchase of a property. thomasgraf ag is a certified member of the Swiss Chamber of Estate Agents (SMK). Thanks to our close collaboration with the asset manager and family office service provider TRIONINVEST, as well as the financial services provider hypolino ag, we offer you a combined expertise in property and finance, many years of industry experience and a strong network.