If I had a pound for every time I’ve been asked this question in my 27 years of estate agency, I’d be on a sun lounger in the Bahamas enjoying retirement! Well, perhaps not quite, but it is a question that crops up more often than one would think.
There are many pros and cons to selling a property at various times of the year, but I want to share with you a couple of examples of why waiting for the spring to sell might not always be the best decision.
So, whilst the Spring is undoubtedly a great time to be a buyer it isn’t necessarily the best time to be a seller.
Quite simply, because it’s also when everybody else puts their property on the market, meaning the competition with your home increases dramatically as you are competing for buyers alongside lots of other hopeful sellers. For the savvy homeseller, marketing a property now in February represents the perfect opportunity to obtain a buyer before most other sellers have yet to even start cleaning out their cupboards!
And, although the weather right now is cold and wet, don’t forget that it is the same for everyone – buyers are looking at every property in the same weather conditions.
Serious buyers have to move come what may, and most in my experience aren’t remotely bothered by the time of year – what they are interested is location, condition, size, and asking price of their dream home.
Perhaps another consideration to throw into the melting pot is unknown future market conditions. In other words, you never know what is around the corner.
Take Lehman Brothers in 2008. What has a US bank got to do with the UK property market you ask? Well everything as it happens. The collapse of this colossal bank rocked financial markets which ultimately was the catalyst for a near worldwide recession – directly effecting the UK economy and property market.
There are political events, wars, and so many other factors that have the potential to slow down the economy because they create uncertainty. The irony is that the uncertainty can often be more damaging that the actual event itself.
The point I’m trying to make here is that at the moment we know the market is good in Crediton, and mid Devon – that is a fact. None of us have a crystal ball to see what market conditions will be like next month, or in 6 months’ time, or next year even.
So, when is the perfect time to sell? The real answer in my view is when it suits YOU. Are you ready to move, mentally and emotionally? Do you have a need to upsize or downsize, are you relocating, have you an expanding family, are you divorcing etc? If the answer is YES, why drag it out? Why wait for the spring just because you believe it’s the best time of year to sell? Don’t put off until tomorrow what you can do today, as a famous person once said. Benjamin Franklin I think?
Finally, I’d like to share some tips that I’ve picked up over the years – so if you are just about to go on the market now in February take heed!
• Firstly, make sure your home is looking awesome – spend a weekend or 2 getting it looking as good as you possibly can. It will really pay off and our photographers will LOVE you for it! They will compliment your hard work by producing a stunning set of images – making your home look incredible and completely stand out from the rest.
• Secondly, I’d recommend gathering up some spring and summer photos, so you can show potential buyers what your garden looks like in full bloom – it’ll be almost as good as them seeing it at that time of year in the flesh.
• Last but certainly not least, if you have a country property, drone photography can make a property look incredible at any time of the year – it’s all about the laws of perspective – everything looks amazing from above. And, as it happens I’m a fully qualified drone pilot (excuse the self plug) – it’s not for every property as there are strict drone laws, but if you are interested to learn more about this do feel free to drop me an email or phone.
Check out our AERIAL booklet with some examples of how amazing drone photography can look HERE
The Helmores team are available 7 days a week to help you with any queries you may have on any property related matter.
Got a question? Don’t hesitate to contact me via the email or phone below.
Rob Stoyle MNAEA BNUC-S
Phone: 01363 777999