Are you looking to offload one of your properties this year? Vendors have been warned not to let the cold weather go to their head and start discounting their asking prices as the mercury drops – and it’s even been suggested that now could be the time to put your property on the market.
Raine & Horne CEO Angus Raine argues that, despite the seasonal drop in buyer activity that comes as buyers put their plans on ice until spring, winter actually represents a great time to be selling.
“Generally, sales volumes are down by as much as 20% in the colder months as a result of fewer homes for sale, however this doesn't necessarily mean there is a smaller pool of motivated buyers," he said.
"Typically, owners tend to hold out for a spring sale, as the collective wisdom suggests that a home will present better in the warmer months. However, this isn't always true, and in many cases the cooler months enable a property to show off its very best features."
He added that there are a number of factors that vendors should keep in mind if they’re planning to make a sale between now and September. These include:
Selling in winter is viable if your home has plenty of natural light.
Likewise, a sun-drenched interior is certain to move your home up the pecking order and may prove a significant tick in the box with many buyers.
It’s even been suggested that in regional areas selling a home in winter can deliver a better price than a spring sale.
"The problem with selling in spring is that everybody has the same idea," said Raine & Hornee Dubbo principal Ken Mongan. "Ideally, winter is a better time to sell because you are competing with 15-20% fewer homes on the market."
He added that sprucing up the property in preparation for the sale will do wonders for your prospects, regardless of the season.
"It might also help to slap on a coat of paint, with neutral colours such as a white, grey or light brown the best bet," he said.
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