So you’ve been sitting on the fence for a while – to sell or not to sell? With so much at stake when it comes to selling property, likely your biggest asset, it can be difficult to know when the time is right to make a move. Most people want as fuss-free and as fast a sale as possible, for the best price possible, and there can be factors to consider that may make this more or less likely. Here are a few guidelines to consider around knowing when to sell your property.
Monitor the market
Keeping an eye on trends in the UK and housing market local to you can help time your house sale to your benefit. A buyer’s market see’s increasing competition between sellers, with more homes than people to buy them, and can lead to plummeting house prices. However, taking advantage of a seller’s market can set you up for the best return possible, with demand outstripping supply and keeping house prices healthy. Chances are that your home may sell more quickly and for a better price during a seller’s market, however, at times when there are less buyers around, ensuring your home is fairly priced and as well presented as possible will give you the best chance of a sale. Why not subscribe to our property alerts to keep up with property coming on the market in East Renfrewshire?
Seasonal cycles
The property market is somewhat cyclical and there are some slight seasonal patterns in buying behaviour year on year. Winter can be a slower period, as the poorer weather and dark nights can impact buyer motivation as well as the added expenses that Christmas and the festive period often bring. The upside is that people spend lots more time indoors, on the couch with a tablet or laptop browsing property listings, so it can often pay off to get your property listed over the festive period. Spring is often looked upon as a time when people start to make a move again, with a renewed motivation to make big life decisions and make good on New Year plans. Summertime can also be a great time to sell as, in a practical sense, there are more hours of daylight, encouraging more viewers through your door and it’s usually the best time to showcase gardens and the outside areas of properties. What we would advise at Nicol Estate Agents is that matching the right house with the right buyer can be successfully achieved at any time of year when working with estate agents who are experienced and well versed in the local property market. People are searching for, viewing and buying property all year round.
Target market
A good place to start is working with your estate agent to establish who your target market is. Who are the people likely to be most interested in your property and is there a time they are more likely to be looking to buy? For instance, you have a great apartment in a popular student area – chances are someone will see a buy-to-let opportunity and look to buy and get their investment rented out in time for the start of term time. Another example could be families searching for their dream family home and who are looking to move during the summer months so that the kids can start a new school at the beginning of term. Increasingly parents time home moves with their children in mind, as moving within the school year can be disruptive to academic and social routines. To some extent it’s about getting into the mind-set of your target market, which could help to further establish the best time for you to list your property.
Local interest in your area
This is again related to market activity, with the turnover of ‘for sale’ signs on your street being something to take note of. Keeping an eye specifically on how well local, similarly sized properties are performing will help you gauge the likelihood of you getting a quick sale for a price that you are looking for. You may find yourself in an up-and-coming area and want to take advantage of the increased interest in property where you live to help maximise returns. Similarly, if there is somewhat of a slump in your area, it might be best to put a pause on any plans until things pick up. Again a good estate agent will do everything in their power to match a buyer with your property, whatever the local market indicates.
Time is right for you
At the end of the day, you have to sell when works best for you. There could be a buyer that falls in love with your home regardless of the season or what property market trends suggest. The important factor is working with trusted estate agents, who can demonstrate a track record of success in your local area, alongside making your property look the best it can for when viewers come through your door.
Good luck with your future home sale and hope you get in touch with us!
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