19 Sep What is The Light Bulb Moment?
What is The Light Bulb Moment?
It’s that precise moment you arrive at the decision that you can no longer live in the environment you are living in. It’s that moment you communicate to your most important person (yourself) that it’s time to move on, that the environment you surround yourself with is no longer appropriate.
It is highly likely The Light Bulb Moment’ was brewing for many months, or sometimes, years before you actually reached it. At different times during the lifespan of a home address, you can experience periods of happiness and pleasure, frustration or disappointment. This is very normal, we are sensitive creatures who react to the circumstances surrounding us. However, reaching the point of no return is a different level of awareness. Once you reach it, you can never go back!
So what next?
Its time for action. You can no longer deceive or deny yourself the truth, it is time to MOVE! Your next steps will determine what type of journey you are about to embark on. Planning and preparation is key in ensuring a smooth transition from awareness through acceptance and ultimately – action.
Here are some tips on how to take your ‘light bulb moment’ and activate the process to prioritise and action change.
- COMMUNICATE to your second most important person(s) (your spouse/partner/parent). Let them know how you are feeling and if appropriate, plan together. For many, this can be a very traumatic time, a journey of emotion and feelings as memories come flooding in. In some cases, there is very little history or emotion involved, but more so the realisation that what you once thought you needed, is no longer a priority. For others, it can mean endings that dramatically change the course of our lives. Communication is the only clear path forward to success.
- BE REALISTIC and true to yourself about your next MOVE. Are you a first home buyer? Are you upsizing as the family grows or downsizing as they leave the next? Is a relationship ending? Are you needing to relocate to a different suburb, state or country? And could a renovation fix the problems you believe you are facing in your current location?. The answer to this impacts your next steps only slightly, but if you are realistic from the onset, you will avoid much disappointment and frustration through the process.
- BE MOTIVATED for change. There is some work that needs to be done by yourself and those around you who are involved in planning and executing the Sale Process. Stay focussed and goal oriented on this journey, as your meander through sometimes confronting situations as this will reward you in a smooth transition and assist those who are running alongside you.
- ACTION not REACTION Through careful planning and investment of your time, resources and energy the arduous task can be relatively easy and incredibly rewarding.
- REVIEW your current financial position?. Sit with your lender/broker/financial adviser to discuss your borrowing capacity. This is integral at this point in the process so you are clear on what you need to achieve out of the next step. It will provide you with clarity in where or how you are able to speculate as your next address.
- RESEARCH your suburb for recent sales, talk to an agent and get a CMA (Current Market Analysis) and have them walk through your home to provide you with an estimate of where they feel your property sits in the current market and / or research the market in the destination you are headed and what it will cost you to MOVE on. If you are considering renovation, you need to ensure that you set a budget and stick to it to prevent over capitalising. You can also commence researching for your next address. Nowadays you have Realsestate.com.au and Domain.com.au to provide you with virtually hundreds of potential new homes. Along with technology, you are able to speculate very easy. And don’t forget that your agent may also be privy to informing you of new properties ahead of them coming to market. Take the time to attend Open Homes to study the current market offering.
- PREPARE for the best possible outcome of sale of your current property. Your agent is the ideal person to provide you with the guidance and support to prepare your home. They will discuss whether or not they feel your home needs a little sprucing up or updating to enhance the offering against others in your area. It also prepares it in its best possible light for photography and showcasing.
- PLAN In some cases, you may have to plan financially to prepare your home for its greatest sales campaign in history. There could be damage that needs repairing, a new coat of paint inside or out, garden that could do with some landscaping. Staging it with furniture that brings up to current market trends. You also need to plan for the costs of your marketing campaign, your agent’s commission, stamp duties on your new home and of course, relocation costs. All these numbers should be recorded and kept close at hand throughout the sales campaign so you are up to speed with where you are in negotiations with potential buyers or with your agent to adjust the price of your home if deemed necessary.
In our forthcoming issues, we will discuss how to prepare for being in the best position to buy the home you want for the price you would like to pay for it.