Are you looking to sell your home this winter? Most homeowners are discouraged to do so, but it doesn’t mean you can’t. Winter is said to be a slow time for home sales unlike spring; a time of the year where homes are most beautiful. But there are advantages on listing your homes on the market during winter. Let’s take a look at the pros and cons of wintertime home selling.
Motivated buyers are out there
In an interview in Your Investment Property Magazine, Raine & Horne CEO Angus Raine explains that 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.
In the Winter 2012 Property Market Review by John McGrath, Chief Executive of McGrath Estate Agents, he stated that in March of last year, “the country’s largest mortgage broker, AFG, had its second biggest month ever in NSW since their index commenced in 2004 with $842 million in new lodgements.” This indicates that there are more buyers in winter, and these buyers are ready to make a deal as soon as possible.
Spring means more competition
Typically, owners tend to hold out for a spring. But spring marks the time when everyone takes their property out to the market. That means more competition for you. As a solution, you can take advantage of lesser competition and easily market your home to sell in winter.
Winter is the best time to showcase your home’s cosy vibe
Raine added, “… in many cases the cooler months enable a property to show off its very best features.” Light up your fireplace and candles to give warmth, contrasting the harsh condition outside. This welcoming feel will certainly seduce potential buyers.
Because of the cold, dark and unpredictable weather, marketing your home during winter would require more work. The changing weather will give your potential buyers a great deal of inconvenience. They may not have the time and energy to see your home. You will need to have a strategic schedule of your open house. This will require you to be flexible enough to make time for them.
Snow is a barrier
Winter brings heavy rain! Make sure to always provide safety paths for your clients. If they slip and slide on your walkways, they won’t be able to enter and see your home. You will also need to clear up the falling leaves in your area. Make sure umbrellas are made available for your potential buyers.
Your lawn is a no-show
You may have put a lot of energy to make your yard appealing during summer. This time of the year, lawn could be a no-show due to more rains and less sun. You will not be able to show off your beautiful garden to your buyers.
You may not be able to get the best value.
Winter has a slower real estate market. There may be a lesser number of potential clients who are willing to buy your home. You may not have the best deal you’ve been expecting. But this doesn’t necessarily mean less value for your home. You’ll just need to put a little more effort to tempt home buyers to take your home.
There is no perfect answer on when it is ideal to sell your house. Although statistics show us that the market is more active from spring onward, wintertime home selling is also a viable time.