Capitalizing on real estate can be tricky to get right, but is there a perfect time of year to put your house on the market?
If you are looking to sell your home, your first step is likely to be seeking out the assistance of a good realtor who has a great track record of selling similar properties in your area. But did you know that the time of year that you put your house on the market could also affect its chances of selling?
According to the Home Owners Alliance, spring is the most favourable time of year to put your property on the market. To be even more precise, The Mortgage Reports suggests that the first two weeks of May are optimal, where you can expect to sell your property 18.5 days faster than any other month and make around 5.9% more money!
There are a number of reasons for this; firstly, it falls after all of the Christmas celebrations and before the summer holidays, so prospective buyers have more time to view properties and engage in the process of buying without other distractions taking priority. Another important factor is that the weather has started to improve by this time and the first blooms are beginning to appear, which makes gardens look much more attractive and welcoming than in the depths of winter. As the days get longer, more people are inspired to go outside and start viewing local properties and neighbourhoods in search of their perfect home.
Prospective buyers are much more committed at this time of year too, particularly if moving home or acquiring a property was part of their to do list for 2020. By the springtime, these buyers will have had the opportunity to get their finances in order, work out their budget, research potential locations and property types, and so will be in the ideal situation to make a quick decision on purchasing a property.
If you are hoping to sell your property this Springtime, it would be well worth reviewing your garden areas to ensure that they will showcase your property in the best light during this particular season. Perhaps invest in some new shrubs and greenery to give your front lawn a mini makeover, or consider adding some new touches to the back garden such as a seating area to make the most of the brighter days. Given the average time needed to complete a sale, any offers accepted during the spring could see new owners moving in by the beginning of the summer. Potential buyers will want to visualize their future lives in the property, so let them see the potential for family BBQs in the garden or lazy summer weekends spent outside playing with the children.
Inside the property, ensure that your rooms are airy, light and spacious to help make the most of the natural light at this time of year. Consider switching dark curtains and fabrics for lighter or brighter colours that make the entire room appear bigger and more welcoming. If you have some flexibility in the layout of furniture and rooms within your property, it would be a good idea to switch rooms around so that your most frequently used day rooms are positioned where there is the best natural light. If this option is limited in your property, due to neighbouring buildings or woodlands for example, you could opt for a mural wall which could give the illusion of bringing the outdoors in.
Unfortunately, it is not always possible to wait and you could find yourself looking to sell at other times within the year. If so, don’t worry as there are still likely going to be buyers throughout the year, you just might need to get a little creative with your sale! Consider hosting an open house where people can come in and take a look around. If you are there, you’ll be able to be the perfect host and show them all the nuances that make your property unique; you’ll probably be able to do that part better than a realtor!
If your house is on the market in the winter, make sure that it’s warm! If you are planning to have a viewing in the evening and you are out at work all day, preset your heating to come on a few hours earlier, so that the place feels nice and cosy by the time they arrive. Create a warm and welcoming atmosphere and if it is in December, make sure you’ve given it a real festive feel, even if that means splashing out on a few new decorations for that extra special look.
Ultimately, your house will sell to the right buyer at the right time, and in areas where there are high demand for properties, you’ll find it is likely to sell quickly at any time of the year.