When is the best time to sell your house?
When putting your property on the market, the time of year can have more of an impact than you would first imagine. Depending on the type of property you are selling, you may want to think about how best to ‘sell’ its best features and if the seasons could have an impact. Here, Partner and Head of Beyond Conveyancing, Sarah Edwards, discusses the factors you should consider when deliberating the time of year to put your property on the market.
Early spring or summer is generally seen as the best time to put your property on the market. The weather is more pleasant, the days are longer, and in most cases both literally and figuratively, your property is shown in a better light.
Spring marks a new beginning for most people; it’s the start of our natural calendar where the cold of winter starts to disappear, and we all tend to feel more ready for a refresh. It is therefore unsurprising that it is one of the most popular times to put a property on the market. It is common to see this run all the way through to the start of the summer school holidays.
What about Autumn and Winter?
However, although you may wish to show off your garden on a spring morning, the spring and summer trend isn’t necessarily a rule. It is important to remember that each neighbourhood and property is different, and it is important to take other important factors into consideration.
If you’re looking to sell your house fast, you may benefit in thinking about the times of year that naturally put buyers under a bit of time pressure. For example, in Autumn, buyers are after a quick buy before winter sets in, and they want to be settled and establish some roots in their new home before Christmas.
It’s worth noting that July and August are generally quieter periods in the property market as many people are on holiday, and on the run-up to Christmas budgets are usually tight, and focus tends to be on the big day.
Economic and Environmental considerations
Putting your property on the market in the quieter periods risks potential buyers thinking that there is something wrong should the property remain on the market for an extended period. If you’re looking for a quick sale, the seasons aren’t the only timely factor to consider.
You may wish to consider any disruptive construction work in the area, current interest-rates or currency fluctuations, and even what constituency your property sits in. It would be worth holding out until some or all of these factors are in a positive state before putting your property on the market.
Property types: Think as your buyer would
The best time of year to sell largely depends on the type of property you’re putting on the market. For example, one and two-bedroom apartment sales tend to spike in the New Year as young professionals look to kick-start their new jobs and make fresh starts often in new cities.
If you are selling a family home, July and August are probably the months to avoid with houses tending to sell slower in the summer months as families with school aged children are restricted to taking their summer holidays throughout July and August.
Property types such as bungalows or small bedroom houses, which appeal to an older buyer who wants to down-size, sell better in the warmer months of the year where there is more daylight to implement a slower move. You may also want to consider what time of year your type of property is presented best; a property with a lot of glass and large windows may benefit from the bright lights of summer but the colourful leaves of autumn might be what makes your cottage stand out.
To conclude, the best time to sell your property requires much more consideration than just the season or weather. It is worth considering the type of property that you are selling, who you are selling to, and the state of the economy and local area. If you have any questions about your property and would like advice on when may be best for you to put it on the market, please don’t hesitate to contact us here at Beyond Conveyancing, a specialist practice of Beyond Law Group, at firstname.lastname@example.org
By Sarah Edwards