WHY WAIT UNTIL THE SPRING? BY MARK WELTON
There is a common misconception amongst would be sellers, that the best time to sell their home is during the spring months. This is an entirely understandable interpretation of the market since spring heralds warmer weather (hopefully), longer evenings, flowers in the garden and leaves on the trees. In short, it welcomes a period where people often feel more optimistic, re-energised and more prepared to make life changing plans such as moving house……….!
The fact is, that all of this is true; serious buyers are out in greater numbers and we traditionally see an uplift in property transactions accordingly. The problem with all this, is that everyone thinks the same, particularly those people who are planning to sell their home! The net result of this mindset is that there is normally a rush of properties being placed onto the open market during March and April, which suddenly provides buyers with more choice and variety to consider. This is great for prospective purchasers and the market generally, however greater choice can take the “edge” of the market and can increase the sale time for sellers in the process.
The important thing for sellers to remember, is that during the early part of the year, there are still many active purchasers around who want to move “by the spring” not “during” these months. These buyers are often frustrated by the relative scarcity of available property during January and February and are forced to effectively wait until more sellers decide to sell with the mistaken belief that they are more likely to attract a buyer if they wait until the “green shoots” start appearing!
My message to those of you who are intending to sell, is that you should only delay placing your home onto the market if it suits you for personal reasons, not a mistaken interpretation of the market, that there are no active and enthusiastic purchasers around until the Spring period. Indeed, in my opinion, the trick is to secure a purchaser now, more quickly, when choice is limited and then buy when there are more options available!
Whatever you decide to do, I wish you happy house hunting…………and……….selling!