5 Reasons why you should buy or sell property before Christmas
A question commonly asked by our customers is, WHEN is the right time to buy and sell property? 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 are serious
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.
Stand out from the crowd
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.
Avoid getting caught out in the spring crush
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.
Lock in your interest rates
Whilst interest rates are at historic lows, many people are using this time to find the best deals on mortgages. This is a prime time to fix your mortgage.
Avoiding the unpredictability of 2021
2020 has been a rollercoaster so far, but 2021 will see the UK leaving the EU for good, and it’s not easy to predict what’s going to happen to the market as a result. Currently buyers are looking to take advantage of the Stamp Duty Holiday which is set to run until March 2021 so it’s a really good time to sell property before Christmas – put your home on the market while people are looking to buy!
Follow the lead of our own CEO and start your property search this autumn by calling us on 020 8799 3371 or request a valuation to give you an idea of what you can expect.