When is the best time to put my property on the market in Devon?
There is a dance we do when it comes to buying and selling a property! In most cases, you’ll want/need to sell your property first, and then buy another property second because this means having a greater deposit to work with and enough funds to cover your purchase and moving costs, plus you do not have to pay double stamp duty which can be costly. If you sell at the right time, then you can potentially put your house under offer quickly and hopefully close to the asking price or, if you have a number of interested parties you may even realise above the asking price.
Seasonal Selling: Housing Market and Selling Expectations:
Winter: The Christmas period is very quiet whilst people are enjoying festivities with their families. Come January though, the market picks up again and we are seeing renewed interest from buyers registering with us looking to move this year. We have been out on some great valuations so far this year and there are some exciting properties coming to the market very soon. Quite a few of homeowners want their properties on the market now to avoid getting lost in the Spring rush.
Spring: Spring is a great time to sell and traditionally is the season when lots of properties come to market. Quire a few of our clients are avid gardeners and want their gardens to be at their best before starting to market their homes. Potential buyers are not away enjoying their summer holidays, there is that feeling of warmth and renewal in the air, and in general, many people want to move during this season simply because it means they can settle into their new home during the warmer, more pleasant months of the year.
Summer: Summer has windows of opportunity for selling your home but it’s important to understand that this is also a time when families will be preoccupied either with taking care of their children who are off from school, or away on holiday. That said, many people do have extra time in the summer due to taking time off work and may potentially fit viewing houses into their schedules.
Autumn: Like Spring, Autumn is another traditionally great time to sell. Try to get your property up and ready – clean it, declutter it and stage it – before the summer ends. This way, you can get it on the market by late August ready to woo those fresh September buyers!
Other Considerations When Putting Your Home on the Market
It’s not only the season that can make a difference to the best time to put your home on the market. These other factors also play a part:
Planning Works Nearby If there are big road works or building works going on outside your property, you might want to wait until these are completed. Objectively, it should only improve the value of your home, so it may be worth holding off! Conversely, you could also use planning works in progress to boost the value of your home whilst it’s on the market. For example, if new transport links are being built nearby this could attract more buyers to your property. Be aware of what is being done near you so that you know whether to wait or whether you can use it to boost value.
The Economy A recession or political uncertainty is always going to have an impact when selling your home, but you do have other options whilst you wait for the ideal time to put your house on the market. If your mortgage is entirely paid up, you could rent your property out until the best time to sell. This way you can also benefit from an income. If you want to rent out your home but still have a mortgage, then you will need to speak with your lender to get the necessary permissions and switch to a buy to let mortgage.
Be Prepared in Advance No Matter What Of course, you want to sell, above all else, so whatever the season, it’s important to be ready. This means having your finances in order, getting your home in order, decorating and making minor improvements and repairs, and ensuring your property looks its absolute best and so attracts views. A house that is ready to be sold is far more attractive to buyers than one that is not!
If you are considering putting your house in Devon on the market, talk to us at Chartsedge on 01803 505115 for the best possible advice.
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