Selling your home during the holiday season may initially seem like a terrible idea. After all, who is going to buy a home for a Christmas present? They don’t slide easily into the back of a hatchback, they’re hard to wrap and tend not to fit under the tree.
But we at Perspective happen to believe that the only terrible idea with regard to your property is not exploring all your options, so we’ve decided to help you weigh up the pros and cons of selling your property during ‘the season to be jolly’.
So what are the positives of selling during this busy, yet fun and festive season? You’ll probably be surprised to learn that there are a whole lot!
Less Houses on Sale Means Less Competition
Sometimes, you’ll find that there will be fewer properties on sale during the holiday period, which can mean your home will stand out more easily.
Motivated Buyers Could Mean a Quicker Sale
Conversely, less properties on the market means you might get greater interest from buyers during this time. This can help create competition and drive prices up among this small group of buyers, who are usually motivated. Many are moving due to new job postings, timing their move around school years or trying to minimise family disruption, which can mean they want to buy as soon as possible.
People Are Feeling Merry
When people are feeling happy and relaxed during the holiday season, they’ll have more time to look for a property and consider all their options. So it’s more likely that when they make a purchase, they’ll be feeling good about their decision.
It’s also summer, so people will be more likely to want to get out and about for open homes (because who wants to leave the house during winter in Canberra?!).
It’s All a Little Bit Magical
Many people start to make grand New Year’s resolution plans before the holiday season, in preparation for January 1st. Imagine if you could fulfill a buyer’s dream of having a new start in the new year in a new home… it’s not quite a Christmas miracle, but it’s still pretty great!
Online Listings Mean Sales Can Happen Any Time
Thanks to the prominence of online property listings and apps, people can search for a home from almost anywhere at any time. The holidays are no exception, especially when it comes to a motivated buyer.
As always, there are things you should consider when going to sell during this time, too. Here are a few points to keep in mind:
Keep the Property Looking Its Best
When it comes to selling your property, you should always be in a position to put it on the market. You’ll want the home to be well presented when potential buyers are looking at it, so ensure the lawns are mowed and clutter is removed. Maybe even give the place a fresh coat of paint. It all counts when making a first impression.
With a bit of forward-planning, you could also aim to renovate earlier in the year, with a view to putting the house on the market during, or just before, the holiday season. Check out this article which can help you navigate the tricky process of renovating.
Be Prepared in Advance
Rather than listing at the last moment, try putting the property on the market a few weeks prior to the start of the festive season. This allows time for interest in the home to build up, which could lead to a sale at the right time.
It’s also important to remember that getting ready to sell means you need to leave time for things like building inspections and contract preparation, so forward planning is key to having everything run smoothly.
Do Your Research
The property market never sits still, so it’s important to know the latest trends. While the holidays sometimes see a dip in listings, this is not always the case. An agent can help you to understand the current situation of supply and demand, helping to inform your decision on when to list. They’re aware of potential buyers and can also help you to plan a marketing strategy to ensure you’ll have the best chance of getting a great result.
You should also keep in mind that the market can change between December and January as buyers leave the market or make a purchase, and new purchasers enter the market. This means you’ll have two chances to sell, increasing your odds of a great result.
By keeping these things in mind, you could find the holiday property sales market very lucrative indeed. But remember, selling your home during the holidays doesn’t mean you have to have an open home on New Year’s Eve. It’s all about doing your research, keeping the property up to standard and planning. And should you need some help with your sale, you can always contact your local Independent Property Group office.