A question commonly asked by our customers is, WHEN is the right time to buy and sell? Our CEO, Richard Palfreeman, always buys his properties in November or December. While every property decision relies on individual circumstances, there are many advantages in putting your property on the market before Christmas.
Buyers and sellers who are on the market in November and December are serious and motivated. Buyers tend to be moving for a specific reason – a new job, a baby on the way, or parents trying to register their children for schools in December – making it a great time to sell a family home. Furthermore, speculative buyers are unlikely to be looking at this time of year. With serious and motivated buyers and sellers, transactions are likely to be quicker and smoother. It may be a cliché, but the age old phrase “quality over quantity” comes to mind.
With fewer competing properties and buyers, you are sure to stand out. With fewer properties being listed on property portals and websites your home will get more attention from those serious buyers who will be trawling the web while they shelter from the colder weather and darker nights. Likewise, as a buyer, your offer will stand out for a seller with fewer buyers chancing their arm with offers.
Don’t hold off until spring – what can seem like a “natural” time to buy or sell can actually leave you disadvantaged. In reality, property prices tend to boom in spring and many vendors price their properties optimistically rather than realistically.
Whilst interest rates are still at historic lows, many people are using this time to find the best deals on mortgages. With speculation that interest rates are going to rise next year, this is a prime time to fix your mortgage.
Because of the 2015 general election and speculation that interest rates will rise, the property market next year is less easy to predict. Indeed, many people may hold off selling altogether until after the general election. Buying or selling before the end of 2014 will ensure you make the most of the current market conditions and avoid the unpredictability of 2015.
If you are considering moving at this time, clink the link to see how Christmas decorations can actually help you sell your property.
Follow the lead of our own CEO and start your property search in November by calling us on 020 8799 3371 or request your valuation online by clicking the link.
Written by Helen Fanthorpe