Spring season is considered the best time to sell your property. Before you read this line sceptically again, let’s read it a little differently, “Is there a right time to sell your property?” Yes, there is! However, we can’t exactly say that’s spring. Why? Here you go.
Well, we admit that spring is the busiest time of the year to sell a house because the competition is high. There are websites such as Buy My Place that offer people the opportunity to sell privately and save thousands of dollars on commissions.
What are the two things that matter the most when selling a house – a competitive price and a nice neighbourhood. Then, there are the facilities such as a mechanic, clinic, park and restaurants located in the vicinity. Due to the competition, there are more buyers looking for property and sellers are trying to one up each other in terms of price. This causes some profit loss to the sellers and the buyers walk away with a great deal.
So, in a way, spring is considered the ideal season for buyers and not so much for the seller. Another reason why there’s a mad dash for buying houses in spring is because the season marks the start of a new term. This allows parents to move their kids to a new school easily. There is no academic loss and people are able to move to a new neighbourhood that offers them more and better facilities. While the buyer does get multiple offers, the asking price that was set below the market price still causes them a minor profit loss. However, that is not always the case because in the pool of buyers, there are sharks and killer whales. Where the killer whales wait patiently for their prey, the shark is too impatient and goes straight for the kill.
So, now you are probably wondering, which season is actually the best season for sale?
As we have established, spring is more profitable for buyers, which leaves us with three other seasons. The best season for the seller is winter. Some might say that in winter people rarely come out of their house, let alone to do the arduous task of property buying or selling. People who are looking to buy a house in winter are serious buyers. They might have had a divorce, or a job transfer or for a number of other reasons.
These people come prepared with a plan that if they get a good deal, they will grab the opportunity. For this, the buyer needs to be equally prepared and get done with all the necessary repairs and renovations to give the house a new look. The more satisfied the buyer is upon the inspection, the less they will negotiate. You have a 90% chance that the buyer will not haggle much over the price. Make sure to explain it to the buyer where the repairs were done and what you have renovated. The more transparent and specific you are, the more the buyers will appreciate you.
So, in reality, winter is the best selling season. Now that you have an idea about what these two seasons hold for you, you can better prepare yourself for the next winter season