Just like purchasing a property, selling a property it is not an overnight decision. And researching when is the right time to sell can pay off. However, the rules of property investing when it comes to choosing the best time may not be what you think. The general assumption is that Spring months are the only ideal time to sell but in reality, it greatly depends on many different factors that can/will affect your sale.
There are many factors to consider when selling a home. As with many other big investments, selling your home needs to be carefully thought through and planned so you can reap the benefits of that investment. The main goal is to sell your home within an appropriate amount of time and ideally making a financial profit.
The right pricing will allow you to attract serious buyers within a reasonable amount of time. You should know what your property is worth and compare it to similar, comparable properties as a benchmark. Doing property market research will allow you to establish a fair market-related price – not too high or too low.
The ideal timing is the ability to sell your property when market conditions are right and you get a good financial return. However, it’s also unwise to hang on to a sale and wait for the market conditions to improve especially when your circumstances do not permit it. More than timing, it’s easier to sell a property when it’s in a sought-after location because regardless of the timing, you can sell your home with ease. If this is not your case, you as the seller should consider the seasons when selling a property.
It’s common for people to consider Spring and Summer as the best time to sell a property. Although higher activity is present in these months, it’s not always the case. Warmer months can also be a bad time to sell a property because of the property oversupply tendencies. Because there are more buyers in the market, it’s more likely that more sellers are in the market as well. The more houses there are in the market, the more challenging it is to thrive in a competitive market. The truth of the matter is there will always be buyers throughout the year. So if you’re planning to sell and hit the colder months, (Autumn or Winter) you can be sure that there are other ways to create interest (displaying good photos in online listings, add warmth on cold show days by picking the right time of day, closing the windows, turning on the lights and heaters etc.).
When selling, it’s not just important to think about the “when”. It’s also important to consider the current property market factors that can affect your sale. We’re talking about the current property market – is it a buyers' or a sellers’ market? Are the interest rates currently low or high? As interest rates go down, houses become more affordable and people will increase the rate they’re willing to pay for a house because the interest rates are low. This can drive demand and help you make a profit when you sell.
Though seasonal factors are important drivers behind home sales, it should not eclipse what time is right for you. Your personal or professional circumstances will also pave the way on when exactly is the right time for you to sell. Homeowners have many different goals and there are many factors to consider. So learn your situation, research on the current market trends, talk to trusted real estate agents, and decide whether it’s time for you to put your house on the market or wait until conditions are more favourable for you.
As property investors and real estate professionals, we want to help you get the most out of your investments. A9 Property provides first-time homebuyers and property investors knowledge on the world of real estate. Our weekly real estate blog discusses a variety of property-related topics, including property investment strategies, real estate industry trends, and current property market shifts to give you valuable insights and help you make informed decisions. We specialise in off the plan properties – a popular investment strategy in Brisbane and Australia. If you're looking to invest, Check out our carefully selected portfolio of off-market properties for sale or contact us for an obligation-free chat to discuss how you can succeed in the business and make the right property investments.