If you’re thinking about selling your house, you might assume it’s a bad idea to put it on the market between Christmas and New Year’s, but you’d be mistaken. A brand-new house is for life, not just for the holidays. Motivated buyers are out looking for new residences during the holidays with the hope of moving in the spring. While it’s true that the holiday season can be a busy and stressful time for many people, there are actually several reasons why it can be a good time to sell your house. Independent estate agent based in Cheltenham enlist the top five:
1. Less competition:
People are focused on holiday activities during the holiday season. This means that there may be less competition among sellers, which can be beneficial for those who do decide to list their homes during this time. Buyers will examine properties for longer when there are fewer of them available. With fewer options available, buyers could be more inclined to take an opportunity to schedule a showing, increasing the likelihood that they will be captivated by your house and make an offer.
2. Motivated buyers:
While the holiday season may be a slower time for the housing market overall, it can also bring out more motivated buyers. These are people who are looking to buy a home before the end of the year for various reasons, such as needing to move before the start of a new job or wanting to take advantage of tax benefits. If you’re able to attract a motivated buyer, you may be able to close the deal more quickly and potentially at a higher price.
According to the Bank of England, the typical household in the UK spends an extra £800 during the holiday season. It could be difficult for them to borrow money in the coming year if they take on more debt. If you list your home before Christmas, individuals who have bids in place will be sure that their finances will work out before submitting an offer.
3. More time to prepare:
Selling a house can be a time-consuming process, and the holiday season can provide a little extra time to get everything in order. Waiting until spring means you’ll have to wait until summer to move because a house sale might take anywhere from 6 weeks – 8 months.
If you and your buyer agree to a pre-Christmas sale, you will probably appreciate moving in the spring and spending the entire summer in a new home. You can take the time to declutter and stage your home, as well as make any necessary repairs or updates. This can help make your home more appealing to potential buyers and potentially increase its value.
4. Festive appeal:
What will buyers do immediately after receiving tablets and smartphones for Christmas or after taking advantage of bargains throughout the New Year? Start looking for the ideal residence. In a tweet on Boxing Day of 2018, Rightmove reported that an astounding 25,147,701 people had visited the website that day. With 3 times as many visitors online, it is undoubtedly the busiest day for them.
The holiday season can also be a great time to showcase the charm and appeal of your home. Decorating your home for the holidays can make it feel warm and inviting, which can be especially appealing to buyers who are looking for a place to call home. You can also take advantage of the festive atmosphere by hosting an open house or holiday-themed viewing event, which can help to generate interest in your home.
5. Quicker sale:
Take advantage of the fact that mortgage brokers, attorneys, real estate agents and conveyancers need to continue making money throughout the holiday season. Selling a house around the holidays may result in a quicker progression through the phases and a quicker and simpler transfer. You will be at the top of the list in the new year, even if your lawyer or conveyancer is away.
Additionally, buyers looking for a deal are aware that the property market may slow down around the holidays and may attempt to take advantage of this. Use them to your advantage and list your house. It can be ideal to sell your house during the holidays if you want a quick sale and are open to negotiating pricing.
While the holidays may not be the busiest time for the housing market, there are several reasons why they can be a good time to sell your house in the UK. From less competition and motivated buyers to more time to prepare and festive appeal, there are many advantages to consider. Just be sure to do your research and work with a real estate agent who can help you navigate the process and maximise your chances of success.