Finding the right time to move has always been a debatable topic. We all know someone who swore they made gold mines by waiting until the ‘selling season’ to list their property for sale. I don’t know about you, but I like the sound of gold mines. I would jump on their backs and demand they tell me their selling season secret. ‘Whoah! What’s this fifth yearly season I knew nothing about?!’
Much credit to your newly-wealthy friend, but there are a lot of factors affecting the final sale price of your property. Whether you’re upsizing or downsizing, moving merely neighbourhoods or moving states, we constantly dwell on something I like to call the ‘What If?’ factor. Allow me to explain;
Every decision you pursue requires you to forego an infinite amount of alternative decisions.
If you want to eat the whole cake, you’re probably going to be too full to eat that other one your wife hid in the back of the fridge. Did I have the good cake or the bad cake? I guess I’ll never know. If you choose to sell your property now, you forego the ability to sell it yesterday or tomorrow, and we, sadly, have no way of knowing what tomorrow holds.
So, what we can do to best position ourselves to sell our property at the right time?
Analyse local suburb trends and projected growth; Dream big but start small.
Look at the performance of your suburb in recent years. Steady growth is a good indication that today is better than yesterday. Realestate.com.au is a great resource available to the general public which outlines market performance, average property prices and past growth trends relative to other areas. Another great resource is your local real estate agency; A good agency (Like Stellario, Hint Hint) operates as a real estate resource first and foremost, helping YOU make the right decision based on your personal needs. Agencies also have commercial access to in depth property data, so it’s always worth an ask even if you’re months off selling.
Identify the busy periods in Real Estate; Get in on the action!
Autumn & Spring. Not to be confused with your friends’ ‘selling season’, the reasons why Autumn and Spring are so busy is really simple; Queensland summer is hot & Queensland winter is a bit colder than most people would like.
In Spring, the weather is starting to ease and gardens are looking their best, meaning properties present better. There is also urgency to settle before Christmas; people want to be in their new homes as soon as possible. Autumn is the second most busy period. Reasonable weather is also the cause and in turn, potential buyers who missed out on Spring properties re-emerge post-Christmas.
There are also benefits to selling outside these seasons. Although there are slightly lower volumes of buyers during Summer & Winter, the buyers present are arguably more serious in nature.
Is your property ready to sell?; Getting it schmick.
No matter the market performance or time of year, better looking properties sell for more. Here are some super cost effective things you can do to get the most bang for your buck!;
- Keeping the gardens well maintained; people buy the feeling just as much as the property walls and the land it sits on.
- Maintain the pool and keep it clean. Blue water beats green for this one!
- Vacuum and mop before each open home. Presentability is numero uno!
- Identify your likely buyer and tailor to what they want to see. Your agent will be able to advise you on this one; giving the right people what they’re after makes a huge difference. A renovator doesn’t want to see the work already done for him, and a busy family probably want the new kitchen already taken care of.
So, Is there a right time to sell my property?
Finding the right time to sell depends on a lot of things. Keeping yourself informed with the market will give you a realistic & neutral assessment of where you are at as a seller. Identifying busy periods could help your property sell quicker as more buyer volume means more competitive pressure between buyers, but this is not always the case. By tailoring your property to the right audience, you can benefit from an easier sales process and reach an outcome in a shorter time-frame. Each property owner has a different set of needs from the next, and we can take from these useful simple steps to help prepare for selling a property.
Author – Sam Pennisi, Marketing Officer
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