Is there a ‘good’ time to sell?
The arts of buying and selling have been studied for thousands of years, ever since we
learned to barter and follow the laws of supply and demand. They apply to buying trinkets
on a market and a sports car. Sometimes things are essential and they’ll nearly always be
snapped up straight away, while other, more luxurious items are bought heavily when they
fall into trend. And that includes houses.
There are a huge number of factors that affect our timing in selling a home; some of these
are within our control while others are hostages to fortune or global economics. Our ages
and wages are important, but so is the Bank of England interest rate and the month of the
year. Therefore, is there a perfect time to sell the home? If so, these four factors might
influence the decision:
Family: It largely depends on the circumstances involved, but there will be times when
getting rid of a home as speedily as possible is the best scenario. If you’ve acquired a home
quickly, perhaps through inheriting from a relative, you have the option of renting it out,
moving into it, or selling up – and if you choose the third option you’ll probably want to get
rid as quickly as possible through a company such as We Buy Any Home. It really comes
down to one simple question – do you want to put work into making money from the home,
or do you want to wash your hands of it now?
Seasons: Seasonal variations are a well-established aspect of selling a home. Simply put,
summer and winter are worse times to sell than spring or autumn. Potential buyers have
too many other things on their mind, such as Christmas and holidays, to concentrate on
nightly treks to other people’s homes. Conversely, homes just look more attractive and
alluring in bloom, or when the autumn dusk settles. If you have to sell in December or July,
be realistic in your expectations and choose your estate agent wisely.
Time of life: The factors to be weighed up by a young family looking to move into a new
home, and an elderly couple wishing to downsize, are massive. As an example, contrast the
stories of Jo Peacock and Nathan Sadler, who saved costs by downsizing from a two-bed to
one-bed villa in Dubai, and Julia and Mark Lloyd who did the same to send their daughter
though university. Similar reasoning, but at completely different stages of lives.
Who can tell what makes a home popular at any time? Or, indeed, what will make the
housing market buoyant? We’re all aware that the market is regularly described as being in
‘crisis’, with a combination of young wannabe homeowners struggling to afford deposits
and a lack of suitable homes; many properties are simply out of their reach, and sellers
might be aware of this. Then there’s the matter of the home itself, and whether it follows
popular stylistic or architectural trends. Take a look at this piece by Elle Décor, detailing
what will be popular in 2017. Bright green rooms and appliances and rooms that fold up are
mentioned – would you be willing to paint your lounge and install a retractable range hood
to get the sale?