Everyone wants to choose the “right time” to sell, but there are a lot of factors which can influence the decision to sell a home.
Changes in personal or family situations, a need to upsize or downsize, or the purchase of your dream home might all mean that you are selling at a time you weren’t really expecting.
Clients often come to me when they need to sell, but the market conditions are not what they ideally would have chosen. The truth is, every market has its pros and cons.
Here’s how to get the best price for your home in any market.
Think about timing
If you want to sell your home for the best price, it’s important to choose the right time.
The market always cools over Christmas and New Year. Families are also often reluctant to move during school holidays, and we see the sales market slow a little while everyone goes away.
As always, a good agent will be best-placed to advise you on the right time for your area and the current market. If you’ve recently seen major growth in property prices around your area, it will almost certainly be the right time to sell.
Buy before you sell
Should you buy before you sell, or sell before you buy? This juggle will often dictate when the best time to sell is.
For example, it is usually a sensible approach to buy before selling in a rising market.
In the past, it was safe to sell your home and rent for a year while searching for the perfect home. But the current market has seen house prices change drastically in six or twelve months, meaning that what a client can afford might be significantly less within a year.
Give some consideration to the particular circumstances and market conditions surrounding your next property move before you decide to sell.
Presentation is king
Presenting your home in the best possible light will mean it sells in any market. Prepare the home for sale by casting a critical eye over every room. Does it need a fresh coat of paint? Does the garden need maintenance? Is each room well-lit, or could it be improved?
Before you put the home on the market, get a deep clean for the carpets, and make sure scuff marks are removed from the walls. Walk through the home as though you are a buyer, from the front door to the yard.
On inspection day, purchase some fresh flowers or indoor plants to brighten up each room. If your home looks its best, it will appeal to buyers no matter the market.
Every home is unique
Conventional wisdom might say that Spring is the best time to sell, but I always recommend that sellers think about their favourite time to live in the property. Does the home have a sunny outlook in winter, or a flowering frangipani out the front?
While some buyers are reluctant to sell in quieter seasons like winter, fearing the number of buyers will be lower and the competition at auction won’t be there, this is not always the case. A good agent can successfully sell a home and negotiate a good price in the quieter times, and some homes actually benefit from selling in a quieter market.
Every property has its own special charm, and you will be the best judge of what makes your home unique.
Ask the experts
Finding the right agent to sell your home is essential. An agent who is well-versed in the social and economic factors influencing property growth in your area will be able to advise you of the best way to make the most of the current market.