The Best Time to Sell Your Home
The best time to sell your home is different for every Seller for different reasons. Factors like the current market trend, often referred to as a ‘buyer’s market’ or a ‘seller’s market’, can make the timing of the sale very important in the outcomes of profit. Truth be told, there is no ideal time to sell in South Africa but there are many factors that could help your sale such as the season, location, and market conditions.
As the property market changes with the seasons, so do human behaviours. The weather, holidays, and many other psychological factors influence our decision making. Avoid showing a cold house in the midst of winter and, if you have a beautiful, lush garden in spring/summer, rather optimise this instead of during the dry more harsh season of winter. People generally have a more positive outlook when spring arrives. It goes without saying that the winter days are shorter and an influence when considering traffic through your home after hours.
All these factors obviously differ in different provinces and are important contributing factors. Time of year also matters for factors other than weather. If you are selling in an area with proximity to schools, maybe start the process a few months before the beginning of the school year to attract parents who want to secure a home near a school. It takes on average three to four months to sell a house and another three months to register the property, so the timing must be impeccable and your estate agent must market it in a way that encourages parents of school going age to see it.
The key contributor to property prices is mostly supply and demand. The market conditions and the current economy drives the price and sale of property. When economies are slow and people are feeling the pinch, it affects a home seeker’s buying power. And when the demand for property drops, sellers have no option but to lower their prices. Interest rates should be considered when thinking about the best time to sell your home, too. It affects people’s ability to buy property because low interest rates bring down the costs to obtain a home loan and create a higher demand for real estate.
With a stressed financial sale not all these factors can be taken into account but be very sure to obtain advice from both financial and property experts to optimise as much profit as possible. Find a local area real estate agent to assist, as they will know precisely what is trending in your suburb.
Another consideration is preparation time for sellers to make any key repairs to best showcase their homes.
Work closely with your real estate agent to establish realistic and profitable outcomes.
When is the best time to sell my house?
Usually, as a rule of thumb, you should sell in the warmer months but it depends on the sales trends in your area and the economy.
How do I sell my house in winter?
Accentuate the best features of the house with good lighting, fires and smell of fresh coffee.