It can be inconvenient moving in the winter but in this market could it be worth it?
I get asked this by friends, family, clients and almost every single home evaluation I go to. There are some big advantages to selling your home in the winter, let's have a look at just a few!
For 1 - We never can anticipate how long a sellers market will last, especially in a Global Pandemic, if the time is right for you and your family to sell, then sell now and take advantage of the compeition in the market place.
For 2 - When you sell you may have to buy, if the market continues on the path it seems to be headed, the home you are looking to buy is also going to be increasing. For some people that might mean a wash between what you get for your home and what you can put down on your next home. However, for a lot of people that might mean that your future home will be priced out of your mortgage affordability.
Less competition- Most sellers wait until spring to put their home up for sale. Some listed properties even get taken off the market because the sellers don't want the hassle over the holidays. With an even lower inventory level of houses already there is even more reason to list your home over the winter, to maximize on your profits. With no competition your chances of selling your home faster and for a higher price goes way up!
More Opportunities/Choice - With buyers only looking at a few houses over the winter months, you have more time to consider the perfect offer that aligns exactly with what your goals are. Buyers looking over the winter are typically more serious, for a couple reasons; If buyers are taking time out of their holiday season, or toughing out the drive in the winter weather, they are typically more motivated to buy. Another reason would be, it's possible the buyer has been looking all year and hasn't had any luck finding a home. When an offer comes in and you have priced your home effectively the chances of multiple offers in this market is very high. With more offers to choose from not only will you be maximizing on the highest pricing, choosing an offer most suitable for you but you will also be able to rest assured that the offer submitted will be fully qualified.
Home looks great! We all know when buying a home our decision is highly based on our emotions. The holiday season is perfect for this because the house looks great! There is something about the snow that makes a house look more cozy then usual. The decorations help the buyers picture what their family holidays will look like. You can help induce that feeling by using the oldest trick in the book - baking cookies. Also lighting a fire, whether it be gas, electric fireplace or wood burning and adding your favourite decorations to your exterior and interior!
If you have any further questions at all, or want to know what your home would sell for in today's market, head to our contact page and send in a request for a no hassle free home evaluation.