If you’re planning on selling a property in the near future, you’ll be keen to make sure it goes for the best price possible.
Of course, the size, style and condition of the building, as well as its outlook, surroundings and proximity to local amenities will make a difference to its asking price – but beyond that, what can you do to influence how much buyers may be willing to pay?
In this article, fast homebuyers and professional auctioneers Property Solvers look at two of the key aspects you may wish to consider when putting a property up for sale, namely: time of the year and where the market may be heading. They also touch on
Time of Year
Spring is recognised globally as a time of change. People are more open to new starts and may be more likely to consider selling up and moving on as a result.
Schools have their Easter break – presenting a good opportunity for viewings, as whole families are likely to be available at the same time.
As the days begin to grow longer, you’ll be able to fit in more viewings, and your property will look its best as the weather gets sunnier. However, there can be lengthy rainy spells, as spring weather is a gamble.
You can be slightly more assured of longer dry spells and sunny weather in summer, giving you ample opportunity to take good pictures of your property and to let viewers see the building in its best light.
One major downside to summer is that many families book trips abroad to coincide with school holidays, so you may not have the fullest market possible.
This is the period when buyers are on the lookout for a quick purchase – so that they can be settled in time for Christmas.
The changing colours in your neighbourhood will look particularly beautiful, and – as long as you can keep on top of falling leaves – your outdoor spaces may be easier to keep under control.
Just be aware of shorter days and keep an eye out for incoming bad weather.
If you decorate your home beautifully in time for the run up to Christmas, it can be easy for viewers to imagine their own domestic bliss in the same environment.
The Christmas holidays can be a great time for families to fit a viewing in. However, the weather will always be a challenge – so stick to earlier in the day where possible.
The Future of the Market
After an understandable dip in the first quarter of 2020/21, the UK annual house price growth has recently skyrocketed.
This boom may be due in part to the extension of the current stamp duty holiday, as well as the new mortgage guarantee scheme.
However, the Halifax House Price Index indicates that there may be a “levelling off” as 2021 continues.
In the report, the bank’s Managing Director – Russell Galley – says that, as a result of higher unemployment levels and the depletion of household savings due to the COVID-19 pandemic “we would not expect the level of growth seen in house prices over the past year to be sustained throughout 2021”.
This suggests that it may be best to sell sooner rather than later, while the market is still flourishing.
Ways to Sell
Is it best to sell through an estate agent or go to auction?
As at any other time, this choice is very much up to you. Auctions are quick and impose no limit whatsoever when it comes to offers – and you may be surprised at the numbers that come out of the woodwork. The are many modern auction operators that stipulate a longer period to exchange and complete on the sale
Your property is likely to take far longer to sell if you use an estate agent, but – as long as you choose a company with a good reputation – you’ll have the benefit of their expertise and the potential to reach a far greater audience.