Taking the plunge, deciding to sell your home

Homes are a place where we create memories. It is a place where we grow as people and celebrate life milestones. However, there are times in life where you must make the decision to move on and find your next family home.

  • 26 May, 2021
  • RESIDENTIAL

That does not make this process of selling your home any less nerve-wracking. But it is also an exciting time as there are so many emotions connected to the home buying and selling process.

You will have to make many decisions, including choosing your sale method, determining a price for your home, and the marketing method.

These can be challenging decisions, but by utilising a real estate agent from a team who has the tools, experience, and knowledge, it can make this process easier.

The first big question you need to overcome is deciding when is the best time to sell your home?

Life may mean you do not get much of a choice, as you may have to relocate for work. But if you are not in a rush, it may be worth considering how the market changes with the season.

Winter

Most people think winter is a terrible time to sell because people are not willing to go out in gloomy weather for an open home. While that might be a fair assumption, it is not entirely true.

If someone is planning on moving homes, a bit of rain will not deter them from seeing what is available. However, some people will hold off selling during these months, which means there could be fewer homes on the market, giving your home a better chance of finding a new family to fall in love with it.

Spring

Daffodils, tulips, baby animals - springs is a time of new life, and that is true for the property market. Plenty of vendors see this as a great time to sell up, injecting positivity into the market.

Buyers also see this is an ideal time to secure their new home so they can be settled by Christmas

However, because this is a popular time to sell, there is a fierce level of competition from other sellers.

Summer

The sun is out, gardens are flourishing, and the temperature is up - creating great conditions for buyers to get out there and check out what is on the market.

The downside of summer for the property market is that this is usually a time families, couples, and singles head away for some rest and relaxation. This causes sales and enquiries to be on the low side.

Autumn

When autumn rolls around, people tend to have settled into their daily routine after the holiday season, and they will be getting on with life. At this point, people tend to get interested in the property market.

Whether it is because they set a new year’s resolution to buy a new home, or they just might want to get settled before a new school term starts, there are usually buyers out and about in autumn.

Now that you have considered the benefits of each season, there are some other factors you may want to be aware of.

Economy

Cash rate reductions can lead to lower interest rates, which sparks buyer confidence. People can borrow money cheaper than they usually would, which encourages more people to purchase a property as a result.

With more demand from buyers, if there is a housing supply issue in your suburb, that could mean a stronger demand for homes in your area, pushing up prices.

Market conditions

Current market conditions could also influence your decision as to whether you want to sell yet.

A buyers’ market means that the supply of homes for sale outweighs the demand. In this situation, you may need to set a correct price and ensure you have a comprehensive marketing strategy in place.

The opposite is a seller’s market. This is where buyer demand exceeds the number of houses on the market. This could result in property getting higher prices due to the increased competition amongst buyers.

LJ Hooker NZ

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