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Is it More Difficult than Ever to Sell Your Old Home Before Buying a New One?

Mar 29, 2016

Why a house extension may make more sense than braving the Perth real estate market.

The housing supply in Perth has been growing a nearly unprecedented rate. In 2015, eight properties went on the market for every buyer. In 2015, there were only half as many real estate transactions as there were in 2005.

In 2015, approximately 23,000 houses, 5,000 units and 7,000 blocks of land were sold for a total of 35,000 transactions. In 2005, there were approximately 75,000 transactions. For every house that sells now, there are 24 on sale. For every unit that sells, there are 41 on sale.

This is great news if you are looking to buy a house. But what if you are selling? People like to “move up” when they outgrow their current homes, but these statistics make it really difficult. People trying to sell their old homes and buy new homes are in danger of paying mortgage repayments on two properties simultaneously while waiting for their old home to sell.

Homes are staying on the market longer and people who want to sell fast are having to compromise severely on their asking prices. When you add this to the standard hassles of buying, selling and moving, it turns what could be a wonderful experience into a soul-draining nightmare.

The Solution: Turn Your Current Home Into Your Dream Home

Luckily, there is an easy solution: you can turn your current home into your dream home with a house extension or second storey addition from Next Level Extensions in Perth.

Led by award winning home renovations designer Max Sardi, we have more than 70 years’ experience providing home renovations to the Perth market. Why go through all of that hassle when we can provide your dream home for you with minimal intrusion into your daily life for a lot less money than you may think?

To learn more, call us today: 1300 948 094.

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