Reasons Why People Sell Their 2-Bed London Flat
People obviously sell their 2-bed London flat when they want to move to a new location.
So, what are some of the reasons why people sell their 2-bed home, apart from wanting to live in a new location?
Selling A Property In Bad Condition
Some 2-bed flat sellers who either don’t have the money to renovate their property to their personal tastes or simply don’t have the energy to go through an entire renovation can put their property on the market.
These properties can of course be a good purchase, as you can save a bit of money on the purchase price, as well as putting your own tastes and ‘stamp’ on the property.
Loss Of Their Job
Unfortunately, people can of course lose their job.
People that have recently lost their job often need to sell their flat due to their monthly income/ salary taking a severe hit
This can make it really difficult to keep up with mortgage payments, as well as adding a huge amount of stress, resulting in them needing to sell their 2-bed home, and quickly.
Divorce
The biggest asset, with the vast majority of people, when they are going through a divorce is their home, or main home.
Sellers in this situation can be disorganised due to a lack of solid communication and the property can sometimes sell for a fair bit below the average asking price for properties in the area because of this.
“People that have recently lost their job often need to sell their flat due to their monthly income/ salary taking a severe hit.”
Moving Jobs
If the 2-bed flat seller is moving to a new job in a brand new area, then a lot of the time, they will look to sell their current home.
At times, job offers are offered to candidates quickly and need to be accepted quickly, meaning that the property will either be rented (if this will cover their mortgage and if they can afford to buy a second home!) or it will simply be sold in a short period of time.
Growing Family
If a couple or family is fortunate enough to be expecting a new baby, then they may be looking to sell their current 2-bed flat and find a larger home.
This can put certain homeowners under pressure to sell their property, as well as finding a new one in time for when their bad is born.
In a number of cases, they will need the money from their home sale to purchase their next home, which puts them in a ‘chain’, meaning that they won’t want to wait too long to accept an offer on their property when selling!
Do you know of anyone that has had to sell their home due to one of the above reasons?