The average person will sell a property three to four times in their lifetime and the impact of such an infrequent event can be significant, even life changing. Given that property is likely to be your largest personal asset, you will want to get the best result, but getting your timing wrong could mean losing out on thousands of pounds. So, it stands to reason that the most frequent question I am asked is ‘when’s the best time to sell my home?’
The truth is, the property market has become less seasonal over the past twenty years which means there is no ‘bad’ time to sell, however there are still some important factors to consider when bringing your home to market, to ensure you get the best possible price in a timescale to suit you.
Market conditions
Supply and demand are the driving forces behind any market, so selling at a time when fewer properties are available is likely to get you a better result. Low supply usually goes hand in hand with high demand which increases competition and urgency leading to a quicker sale at a higher price. Check the property search engines like Rightmove, Zoopla or Boomin to see how many other properties are for sale in your price range and ask a local estate agent their views on the market. Of course, if prices are rising, you are also facing the same conditions on your purchase so the longer you leave it the more expensive it becomes to move home. At the time of writing, the Wokingham property market is experiencing a ‘sellers market’ with 31% less properties available now than 6 months ago* which means it’s a great time to secure a buyer at an excellent price.
Who is your buyer?
As well as market conditions it’s equally important to consider the type of buyer your home will attract and when they are most likely to be considering a purchase. If you are selling a family home in a good school catchment, the best buyers for your home are going to be active from March to June so they can secure a house in time to complete for the September term. If you are likely to attract a buy-to-let investor, they will want to complete the purchase ahead of the busy summer months so you should consider marketing your property earlier in the year.
When will your home look at its best?
There is no doubt about it that everything looks better in sunshine. Days are longer and lighter which means evening viewings are just as effective as those conducted during the day. Well-kept gardens come to life in the spring and summer months and are likely to make your home more attractive in a competitive market. If you own a charming cottage with open fireplaces you may find that creating a cosy, warm and inviting environment during Autumn is just the ticket to encourage the best buyers through the door. It’s your home and you know when it looks best.
So, when’s the best time to sell your home? That depends on the market, your circumstances, and your property, but right now – it’s pretty hot!
Hat and Home is an independent Wokingham estate agency which gives a nod to tradition and a wink to nostalgia. Our mission is to make moving home a fantastic experience. If you need any help with your sale, purchase, let or rental, please just drop us a line.
*Rightmove 02/05/21 RG40 & RG41.