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Are you considering upsizing in Ireland?

Should I buy a bigger property?

While it is a very personal decision, some common reasons include 

  • Growing family, as a family grows they may need more space for children and additional bedrooms.
  • Home office or workspace, with the rise of remote work, many people may need a dedicated space to work from home. 
  • Entertainment space, a bigger house may have more room for a home theatre, game room, or other entertainment spaces. 
  • Guest accommodations, a bigger house may have more bedrooms and bathrooms to accommodate guests. 
  • Storage, a bigger house may have more storage space for items such as professional equipment, sporting equipment, and other household items.

Here are things to consider when Upsizing:

  1. Timing: Consider the current real estate market and the best time to list your home for sale.
  2. Pricing: Get a realistic idea of the value of your home by getting a professional home appraisal or by comparing it to similar homes in your area that have recently sold.
  3. Research the local area where you intend to buy the bigger property. Look at amenities and transport quality.
  4. Get a handle on how realistic your budget is. Extra costs can mount: utility costs,  relocation costs, property repairs, property tax, a bigger house can mean more decoration, furniture and fittings.
  5. Condition: Make any necessary repairs and improvements to your home to increase its appeal to potential buyers.
  6. Staging: Present your current home in the best light possible by decluttering, deep cleaning, and staging it for showings.
  7. Marketing: Work with a real estate agent with a proven track record of selling homes in your area. Be prepared to negotiate with potential buyers and be willing to compromise on certain items.
  8. Ideally, be ‘Sale Agreed’ on your current property to put you in a stronger position to place a booking deposit on the bigger property.

A Note on House Sale Money Transfer Time Scales:

  • It takes two to four months after the ‘sale agreed’ to come into possession of the money from your house sale.
  • It takes two months typically for money to come through from a cash buyer after the ‘sale agreed’.
  • It takes up to four months after the ‘sale agreed’ for a mortgage buyer’s money to come through.
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